Axa Buys 40,900 Shares of Meritor Inc (MTOR)
Axa grew its stake in shares of Meritor Inc (NYSE:MTOR) by 14.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 323,500 shares of the auto parts company’s stock after acquiring an additional 40,900 shares during the period. Axa’s holdings in Meritor were worth $7,589,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in MTOR. Rothschild Asset Management Inc. acquired a new stake in shares of Meritor during the 3rd quarter valued at $37,927,000. Hennessy Advisors Inc. lifted its position in shares of 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 last quarter. Russell Investments Group Ltd. raised its stake in Meritor by 340.9% during the 3rd 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 during the period. OppenheimerFunds Inc. acquired a new stake in Meritor during the 4th quarter valued at $14,667,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in Meritor during the 3rd quarter valued at $13,493,000. Institutional investors own 93.65% of the company’s stock.
In other news, SVP Joseph A. Plomin sold 15,826 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $25.64, for a total value of $405,778.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey A. Craig sold 155,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $26.21, for a total transaction of $4,062,550.00. Following the completion of the transaction, the chief executive officer now directly owns 425,310 shares in the company, valued at $11,147,375.10. The disclosure for this sale can be found here. Insiders sold 238,826 shares of company stock worth $6,439,309 over the last ninety days. 2.32% of the stock is currently owned by company insiders.
Meritor (NYSE:MTOR) last posted its quarterly earnings results on Wednesday, January 31st. The auto parts company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.16. Meritor had a net margin of 7.69% and a return on equity of 208.74%. The business had revenue of $903.00 million for the quarter, compared to the consensus estimate of $836.28 million. During the same period in the prior year, the business posted $0.25 earnings per share. Meritor’s revenue for the quarter was up 29.2% compared to the same quarter last year. research analysts predict that Meritor Inc will post 2.7 EPS for the current fiscal year.
Several analysts have issued reports on MTOR shares. Royal Bank of Canada cut their target price on shares of Meritor from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, November 16th. Zacks Investment Research downgraded shares of Meritor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. ValuEngine raised shares of Meritor from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Piper Jaffray Companies raised shares of Meritor from an “underweight” rating to an “overweight” rating and set a $30.00 target price on the stock in a research note on Friday, December 8th. Finally, Barclays boosted their target price on shares of Meritor from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $28.95.
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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.
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