PNC Financial Services Group Inc. boosted its stake in Meritor Inc (NYSE:MTOR) by 4,972.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 13,138 shares of the auto parts company’s stock after acquiring an additional 12,879 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Meritor were worth $269,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in MTOR. Schroder Investment Management Group bought a new position in Meritor in the 4th quarter valued at about $136,000. New York State Teachers Retirement System bought a new position in Meritor in the 1st quarter valued at about $154,000. Sciencast Management LP bought a new position in Meritor in the 4th quarter valued at about $318,000. Affinity Investment Advisors LLC bought a new position in Meritor in the 1st quarter valued at about $384,000. Finally, Caxton Associates LP grew its position in Meritor by 47.7% in the 4th quarter. Caxton Associates LP now owns 16,843 shares of the auto parts company’s stock valued at $395,000 after buying an additional 5,443 shares in the last quarter. Hedge funds and other institutional investors own 92.78% of the company’s stock.
Shares of Meritor opened at $21.27 on Wednesday, according to MarketBeat. Meritor Inc has a twelve month low of $15.46 and a twelve month high of $29.54. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.16 and a quick ratio of 0.72. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 8.08 and a beta of 2.50.
Meritor (NYSE:MTOR) last issued its quarterly earnings results on Thursday, May 3rd. The auto parts company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.10. Meritor had a net margin of 8.08% and a return on equity of 115.74%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $974.09 million. During the same period in the prior year, the company earned $0.35 EPS. Meritor’s revenue was up 32.3% on a year-over-year basis. equities research analysts forecast that Meritor Inc will post 2.81 EPS for the current year.
A number of brokerages recently issued reports on MTOR. Barclays decreased their target price on shares of Meritor from $27.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 17th. Zacks Investment Research lowered shares of Meritor from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 24th. Piper Jaffray Companies set a $35.00 target price on shares of Meritor and gave the company a “buy” rating in a research report on Tuesday, March 13th. ValuEngine lowered shares of Meritor from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Finally, Stifel Nicolaus set a $27.00 target price on shares of Meritor and gave the company a “buy” rating in a research report on Friday, May 4th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $28.41.
Meritor Company 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 & Industrial; and Aftermarket & Trailer.
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