World Asset Management Inc lowered its stake in BorgWarner Inc. (NYSE:BWA) by 12.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,988 shares of the auto parts company’s stock after selling 2,810 shares during the period. World Asset Management Inc’s holdings in BorgWarner were worth $804,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. raised its position in shares of BorgWarner by 6.7% in the second quarter. Bessemer Group Inc. now owns 10,066 shares of the auto parts company’s stock worth $427,000 after buying an additional 628 shares in the last quarter. Cambiar Investors LLC raised its stake in BorgWarner by 2.9% in the second quarter. Cambiar Investors LLC now owns 95,601 shares of the auto parts company’s stock valued at $4,050,000 after buying an additional 2,704 shares during the period. CIBC Asset Management Inc raised its stake in BorgWarner by 0.3% in the second quarter. CIBC Asset Management Inc now owns 19,211 shares of the auto parts company’s stock valued at $814,000 after buying an additional 61 shares during the period. Bbva Compass Bancshares Inc. raised its stake in BorgWarner by 1.3% in the second quarter. Bbva Compass Bancshares Inc. now owns 128,091 shares of the auto parts company’s stock valued at $5,426,000 after buying an additional 1,665 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in BorgWarner by 57.3% in the second quarter. Janney Montgomery Scott LLC now owns 32,369 shares of the auto parts company’s stock valued at $1,371,000 after buying an additional 11,796 shares during the period. 92.35% of the stock is currently owned by hedge funds and other institutional investors.
BorgWarner Inc. (BWA) traded down 0.61% during mid-day trading on Friday, hitting $44.34. The stock had a trading volume of 1,933,913 shares. The firm has a market cap of $9.36 billion, a P/E ratio of 49.43 and a beta of 1.73. BorgWarner Inc. has a 1-year low of $33.09 and a 1-year high of $48.03. The stock has a 50 day moving average of $45.45 and a 200-day moving average of $42.44.
BorgWarner (NYSE:BWA) last released its earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.07. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the firm earned $0.84 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. Analysts predict that BorgWarner Inc. will post $3.70 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Wednesday, August 30th. BorgWarner’s dividend payout ratio is currently 62.92%.
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A number of research firms recently commented on BWA. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 target price on shares of BorgWarner in a research report on Wednesday, May 31st. Royal Bank Of Canada restated a “hold” rating and issued a $44.00 price objective on shares of BorgWarner in a report on Wednesday, July 12th. BidaskClub downgraded BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Guggenheim began coverage on BorgWarner in a research note on Wednesday, June 21st. They issued a “neutral” rating and a $45.00 target price for the company. Finally, Zacks Investment Research lowered BorgWarner from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. BorgWarner presently has a consensus rating of “Hold” and a consensus target price of $42.67.
In related news, Director Dennis C. Cuneo sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $44.06, for a total transaction of $44,060.00. Following the sale, the director now directly owns 13,398 shares in the company, valued at approximately $590,315.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brady D. Ericson sold 11,052 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total transaction of $501,539.76. Following the sale, the insider now owns 23,418 shares in the company, valued at $1,062,708.84. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.
BorgWarner Company Profile
BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.
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