Engineers Gate Manager LP purchased a new stake in Meritor Inc (NYSE:MTOR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 61,007 shares of the auto parts company’s stock, valued at approximately $1,181,000. Engineers Gate Manager LP owned 0.07% of Meritor at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of MTOR. Eqis Capital Management Inc. acquired a new stake in shares of Meritor in the second quarter valued at about $203,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Meritor in the second quarter valued at about $252,000. GAM Holding AG acquired a new stake in shares of Meritor in the second quarter valued at about $253,000. First Hawaiian Bank acquired a new stake in shares of Meritor in the third quarter valued at about $273,000. Finally, Alps Advisors Inc. increased its stake in shares of Meritor by 21.3% in the third quarter. Alps Advisors Inc. now owns 24,245 shares of the auto parts company’s stock valued at $469,000 after buying an additional 4,255 shares during the period. 89.89% of the stock is owned by institutional investors.
MTOR has been the topic of several research analyst reports. Stifel Nicolaus set a $29.00 target price on Meritor and gave the company a “buy” rating in a research report on Wednesday, August 1st. Zacks Investment Research lowered Meritor from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. ValuEngine upgraded Meritor from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Barclays upped their target price on Meritor from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, August 2nd. Finally, Piper Jaffray Companies set a $37.00 target price on Meritor and gave the company a “buy” rating in a research report on Friday, September 14th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $29.67.
Shares of Meritor stock opened at $17.08 on Friday. Meritor Inc has a one year low of $15.54 and a one year high of $29.54. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.70 and a current ratio of 1.15. The stock has a market cap of $1.51 billion, a P/E ratio of 9.09 and a beta of 2.53.
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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 & Industrial; and Aftermarket & Trailer.
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