Pillar Pacific Capital Management LLC reduced its holdings in Meritor Inc (NYSE:MTOR) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,600 shares of the auto parts company’s stock after selling 500 shares during the period. Pillar Pacific Capital Management LLC’s holdings in Meritor were worth $270,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MTOR. Meeder Asset Management Inc. boosted its holdings in Meritor by 124.3% during the second quarter. Meeder Asset Management Inc. now owns 1,433 shares of the auto parts company’s stock worth $35,000 after buying an additional 794 shares in the last quarter. Howe & Rusling Inc. acquired a new position in Meritor during the third quarter worth $46,000. Robeco Institutional Asset Management B.V. acquired a new position in Meritor during the second quarter worth $77,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Meritor by 16.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,739 shares of the auto parts company’s stock valued at $115,000 after buying an additional 686 shares during the last quarter. Finally, New York State Teachers Retirement System raised its position in shares of Meritor by 45.8% in the second quarter. New York State Teachers Retirement System now owns 7,000 shares of the auto parts company’s stock valued at $170,000 after buying an additional 2,200 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently commented on MTOR shares. Barclays reduced their target price on shares of Meritor from $21.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Meritor from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research report on Thursday, August 1st. Buckingham Research cut their price objective on shares of Meritor from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Citigroup cut their price objective on shares of Meritor from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, August 26th. Finally, UBS Group cut their price objective on shares of Meritor from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Meritor presently has a consensus rating of “Hold” and an average price target of $23.80.

MTOR stock traded up $0.12 during midday trading on Friday, reaching $23.62. 15,633 shares of the company’s stock traded hands, compared to its average volume of 938,980. The firm has a market capitalization of $1.96 billion, a PE ratio of 7.79 and a beta of 2.30. Meritor Inc has a 52 week low of $15.01 and a 52 week high of $25.78. The company has a 50-day moving average price of $20.00 and a two-hundred day moving average price of $21.04. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.76 and a current ratio of 1.25.

In other Meritor news, SVP Boise April Miller sold 31,830 shares of Meritor stock in a transaction on Friday, August 16th. The shares were sold at an average price of $17.38, for a total value of $553,205.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is currently owned by company insiders.

Meritor Profile

Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck; and Aftermarket, Industrial and Trailer.

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Institutional Ownership by Quarter for Meritor (NYSE:MTOR)

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