Bank of Montreal Can Increases Stake in Meritor Inc (MTOR)
Bank of Montreal Can grew its position in shares of Meritor Inc (NYSE:MTOR) by 119.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 7,954 shares of the auto parts company’s stock after acquiring an additional 4,333 shares during the period. Bank of Montreal Can’s holdings in Meritor were worth $163,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in MTOR. JPMorgan Chase & Co. lifted its position in shares of Meritor by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,310,383 shares of the auto parts company’s stock worth $25,369,000 after purchasing an additional 60,557 shares during the period. Strs Ohio lifted its position in shares of Meritor by 146.2% in the 4th quarter. Strs Ohio now owns 3,200 shares of the auto parts company’s stock worth $54,000 after purchasing an additional 1,900 shares during the period. Rhumbline Advisers lifted its position in shares of Meritor by 45.0% in the 4th quarter. Rhumbline Advisers now owns 108,876 shares of the auto parts company’s stock worth $1,841,000 after purchasing an additional 33,773 shares during the period. First Mercantile Trust Co. lifted its position in shares of Meritor by 5.5% in the 4th quarter. First Mercantile Trust Co. now owns 19,733 shares of the auto parts company’s stock worth $334,000 after purchasing an additional 1,035 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in shares of Meritor by 67.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 46,906 shares of the auto parts company’s stock worth $793,000 after purchasing an additional 18,847 shares during the period. Institutional investors and hedge funds own 95.02% of the company’s stock.
NYSE MTOR opened at $20.41 on Tuesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.15 and a quick ratio of 0.68. The company has a market cap of $1.68 billion, a P/E ratio of 6.74 and a beta of 2.16. Meritor Inc has a 52 week low of $15.01 and a 52 week high of $25.78.
In related news, SVP Chris Villavarayan sold 21,723 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $23.21, for a total transaction of $504,190.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rodger L. Boehm acquired 2,000 shares of Meritor stock in a transaction that occurred on Tuesday, May 14th. The shares were purchased at an average price of $21.00 per share, with a total value of $42,000.00. The disclosure for this purchase can be found here. Insiders own 2.80% of the company’s stock.
Several equities research analysts have recently weighed in on MTOR shares. Longbow Research upped their price target on shares of Meritor to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Zacks Investment Research cut shares of Meritor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Stifel Nicolaus set a $29.00 price objective on shares of Meritor and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Barclays reiterated a “hold” rating and set a $21.00 price objective on shares of Meritor in a research note on Sunday, March 31st. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Meritor currently has a consensus rating of “Hold” and a consensus target price of $25.63.
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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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