California State Teachers Retirement System Reduces Stake in Meritor Inc (MTOR)

California State Teachers Retirement System trimmed its holdings in Meritor Inc (NYSE:MTOR) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,199 shares of the auto parts company’s stock after selling 14,255 shares during the period. California State Teachers Retirement System owned 0.15% of Meritor worth $3,491,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MTOR. Rothschild Asset Management Inc. acquired a new position in Meritor during the third quarter valued at approximately $37,927,000. Russell Investments Group Ltd. raised its position in Meritor by 340.9% during the third quarter. Russell Investments Group Ltd. now owns 815,739 shares of the auto parts company’s stock valued at $21,218,000 after purchasing an additional 630,702 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Meritor during the third quarter valued at approximately $16,311,000. Fuller & Thaler Asset Management Inc. acquired a new position in Meritor during the third quarter valued at approximately $13,493,000. Finally, JPMorgan Chase & Co. raised its position in Meritor by 27.8% during the third quarter. JPMorgan Chase & Co. now owns 2,188,730 shares of the auto parts company’s stock valued at $57,345,000 after purchasing an additional 476,424 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

In other Meritor news, SVP Chris Villavarayan sold 4,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $23.53, for a total transaction of $94,120.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Paul Bialy sold 2,191 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $24.64, for a total transaction of $53,986.24. The disclosure for this sale can be found here. In the last three months, insiders sold 146,290 shares of company stock worth $3,549,231. 2.32% of the stock is currently owned by insiders.

MTOR has been the subject of several research analyst reports. BidaskClub upgraded shares of Meritor from a “buy” rating to a “strong-buy” rating in a report on Friday, September 22nd. Longbow Research downgraded shares of Meritor from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Barclays set a $22.00 price target on shares of Meritor and gave the stock a “hold” rating in a report on Friday, October 20th. UBS Group upped their price target on shares of Meritor from $19.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. Finally, Royal Bank of Canada lowered their price target on shares of Meritor from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, November 16th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Meritor currently has a consensus rating of “Buy” and a consensus target price of $26.14.

Shares of Meritor Inc (MTOR) opened at $24.52 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 2.55. Meritor Inc has a one year low of $13.34 and a one year high of $27.96. The firm has a market cap of $2,186.77, a price-to-earnings ratio of 6.91 and a beta of 2.29.

Meritor (NYSE:MTOR) last issued its quarterly earnings data on Wednesday, November 15th. The auto parts company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.15. Meritor had a net margin of 9.68% and a negative return on equity of 1,152.54%. The company had revenue of $922.00 million for the quarter, compared to analysts’ expectations of $836.39 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Meritor’s revenue for the quarter was up 26.6% on a year-over-year basis. analysts forecast that Meritor Inc will post 2.43 EPS for the current year.

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Meritor Profile

Meritor, Inc is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The Company’s segments include Commercial Truck & Industrial and Aftermarket & Trailer.

Institutional Ownership by Quarter for Meritor (NYSE:MTOR)

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