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.

Meritor (NYSE:MTOR) last posted its quarterly earnings data on Wednesday, May 1st. The auto parts company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.87 by $0.16. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.11 billion. Meritor had a net margin of 5.86% and a return on equity of 89.66%. Meritor’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 EPS. Research analysts forecast that Meritor Inc will post 3.54 earnings per share for the current fiscal year.

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.

ILLEGAL ACTIVITY WARNING: “Bank of Montreal Can Increases Stake in Meritor Inc (MTOR)” was published by Daily Political and is owned by of Daily Political. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this piece of content can be accessed at https://www.dailypolitical.com/2019/06/04/bank-of-montreal-can-increases-stake-in-meritor-inc-mtor.html.

About Meritor

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.

Read More: Options Trading – What is a Straddle?

Want to see what other hedge funds are holding MTOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meritor Inc (NYSE:MTOR).

Institutional Ownership by Quarter for Meritor (NYSE:MTOR)

Receive News & Ratings for Meritor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritor and related companies with MarketBeat.com's FREE daily email newsletter.