Kendall Capital Management Raises Stock Holdings in Meritor Inc (NYSE:MTOR)

Kendall Capital Management increased its stake in Meritor Inc (NYSE:MTOR) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,715 shares of the auto parts company’s stock after purchasing an additional 600 shares during the period. Kendall Capital Management’s holdings in Meritor were worth $390,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MTOR. LS Investment Advisors LLC bought a new stake in shares of Meritor during the first quarter valued at approximately $29,000. Mutual of America Capital Management LLC bought a new stake in Meritor during the first quarter worth approximately $43,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Meritor by 28.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,091 shares of the auto parts company’s stock worth $81,000 after purchasing an additional 1,352 shares during the period. Parametrica Management Ltd purchased a new stake in Meritor during the 1st quarter valued at $145,000. Finally, Aigen Investment Management LP lifted its position in Meritor by 23,997.8% in the first quarter. Aigen Investment Management LP now owns 11,085 shares of the auto parts company’s stock worth $147,000 after buying an additional 11,039 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE MTOR traded down $0.35 during mid-day trading on Friday, reaching $22.75. 965,746 shares of the company were exchanged, compared to its average volume of 626,344. Meritor Inc has a 1 year low of $10.91 and a 1 year high of $27.18. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 6.17 and a beta of 2.45. The company has a quick ratio of 1.08, a current ratio of 1.88 and a debt-to-equity ratio of 2.96. The firm has a 50-day moving average of $20.55 and a 200 day moving average of $19.97.

Meritor (NYSE:MTOR) last posted its earnings results on Wednesday, July 29th. The auto parts company reported ($0.47) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.01). The firm had revenue of $514.00 million for the quarter, compared to analysts’ expectations of $459.25 million. Meritor had a net margin of 8.63% and a return on equity of 35.42%. The company’s revenue was down 55.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 EPS. On average, equities analysts forecast that Meritor Inc will post 0.6 earnings per share for the current year.

Several equities research analysts have recently weighed in on MTOR shares. Royal Bank of Canada increased their target price on shares of Meritor from $21.00 to $23.00 and gave the company a “sector perform” rating in a research note on Thursday. Longbow Research increased their target price on Meritor from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. ValuEngine raised shares of Meritor from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Barclays boosted their price objective on shares of Meritor from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Meritor from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, June 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Meritor currently has an average rating of “Hold” and an average target price of $23.44.

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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