Geode Capital Management LLC Boosts Stake in Meritor, Inc. (MTOR)

Geode Capital Management LLC lifted its position in Meritor, Inc. (NYSE:MTOR) by 9.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 787,670 shares of the auto parts company’s stock after purchasing an additional 64,853 shares during the quarter. Geode Capital Management LLC owned 0.88% of Meritor worth $18,478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in Meritor by 8.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,304,885 shares of the auto parts company’s stock valued at $54,072,000 after acquiring an additional 182,490 shares during the period. JPMorgan Chase & Co. boosted its holdings in Meritor by 27.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,188,730 shares of the auto parts company’s stock valued at $57,345,000 after acquiring an additional 476,424 shares during the period. Hennessy Advisors Inc. boosted its holdings in Meritor by 480.4% during the 4th quarter. Hennessy Advisors Inc. now owns 1,415,600 shares of the auto parts company’s stock valued at $33,210,000 after acquiring an additional 1,171,700 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in Meritor by 38.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 868,650 shares of the auto parts company’s stock valued at $20,378,000 after acquiring an additional 241,575 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Meritor by 1.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 744,720 shares of the auto parts company’s stock valued at $17,472,000 after acquiring an additional 12,555 shares during the period. Hedge funds and other institutional investors own 93.48% of the company’s stock.

In other news, SVP Joseph A. Plomin sold 15,826 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $25.64, for a total value of $405,778.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Chris Villavarayan sold 18,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $28.61, for a total value of $514,980.00. The disclosure for this sale can be found here. Insiders sold a total of 238,826 shares of company stock valued at $6,439,309 in the last three months. Corporate insiders own 2.32% of the company’s stock.

MTOR has been the subject of several analyst reports. ValuEngine upgraded Meritor from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Piper Jaffray upgraded Meritor from an “underweight” rating to an “overweight” rating and set a $30.00 price objective for the company in a report on Friday, December 8th. Longbow Research upgraded Meritor from a “neutral” rating to a “buy” rating in a report on Wednesday, January 24th. Barclays increased their price objective on Meritor from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Finally, Zacks Investment Research upgraded Meritor from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $28.95.

NYSE MTOR opened at $20.56 on Friday. Meritor, Inc. has a fifty-two week low of $14.97 and a fifty-two week high of $29.54. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.17 and a quick ratio of 0.69. The company has a market capitalization of $1,833.64, a price-to-earnings ratio of 10.94 and a beta of 2.48.

Meritor (NYSE:MTOR) last released its quarterly earnings data on Wednesday, January 31st. The auto parts company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.16. Meritor had a return on equity of 208.74% and a net margin of 7.69%. The business had revenue of $903.00 million during the quarter, compared to analysts’ expectations of $836.28 million. During the same quarter last year, the business posted $0.25 EPS. The business’s revenue was up 29.2% on a year-over-year basis. research analysts expect that Meritor, Inc. will post 2.71 earnings per share for the current year.

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 & Industrial; and Aftermarket & Trailer.

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