Taylor Cottrill Erickson & Associates Inc. lowered its stake in shares of BorgWarner Inc. (NYSE:BWA) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,820 shares of the auto parts company’s stock after selling 2,225 shares during the period. Taylor Cottrill Erickson & Associates Inc.’s holdings in BorgWarner were worth $2,661,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. First Bank & Trust raised its stake in BorgWarner by 0.3% in the first quarter. First Bank & Trust now owns 4,126 shares of the auto parts company’s stock valued at $173,000 after buying an additional 12 shares in the last quarter. Atria Investments LLC raised its stake in BorgWarner by 0.8% in the first quarter. Atria Investments LLC now owns 5,456 shares of the auto parts company’s stock valued at $228,000 after buying an additional 43 shares in the last quarter. Hanson & Doremus Investment Management raised its stake in BorgWarner by 0.9% in the second quarter. Hanson & Doremus Investment Management now owns 8,895 shares of the auto parts company’s stock valued at $377,000 after buying an additional 75 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in BorgWarner by 0.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,846 shares of the auto parts company’s stock valued at $788,000 after buying an additional 77 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its stake in BorgWarner by 1.3% in the second quarter. Contravisory Investment Management Inc. now owns 6,356 shares of the auto parts company’s stock valued at $269,000 after buying an additional 79 shares in the last quarter. Institutional investors own 92.35% of the company’s stock.
BorgWarner Inc. (NYSE BWA) opened at 44.34 on Friday. BorgWarner Inc. has a 1-year low of $33.09 and a 1-year high of $48.03. The stock has a market capitalization of $9.36 billion, a P/E ratio of 49.43 and a beta of 1.73. The stock has a 50 day moving average of $45.45 and a 200 day moving average of $42.44.
BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.07. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.27 billion. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 EPS. On average, analysts expect that BorgWarner Inc. will post $3.70 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.26%. BorgWarner’s payout ratio is 62.92%.
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Several research firms recently commented on BWA. Jefferies Group LLC restated a “buy” rating and set a $50.00 price target on shares of BorgWarner in a research report on Wednesday, May 31st. Royal Bank Of Canada restated a “hold” rating and set a $44.00 price target on shares of BorgWarner in a research report on Wednesday, July 12th. BidaskClub lowered shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Guggenheim started coverage on shares of BorgWarner in a research report on Wednesday, June 21st. They issued a “neutral” rating and a $45.00 target price on the stock. Finally, Zacks Investment Research lowered shares of BorgWarner from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $42.67.
In other BorgWarner news, insider Brady D. Ericson sold 11,052 shares of the firm’s stock in a transaction dated 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 directly owns 23,418 shares of the company’s stock, valued at approximately $1,062,708.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis C. Cuneo sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was 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 $590,315.88. The disclosure for this sale can be found here. 0.66% of the stock is currently 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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