Columbia Asset Management lowered its position in BorgWarner Inc. (NYSE:BWA) by 25.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,573 shares of the auto parts company’s stock after selling 5,800 shares during the period. Columbia Asset Management’s holdings in BorgWarner were worth $702,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of BWA. BlackRock Inc. boosted its holdings in BorgWarner by 3,228.4% in the 1st quarter. BlackRock Inc. now owns 13,090,582 shares of the auto parts company’s stock worth $547,056,000 after buying an additional 12,697,279 shares during the period. Pioneer Investment Management Inc. boosted its holdings in BorgWarner by 56.7% in the 1st quarter. Pioneer Investment Management Inc. now owns 3,288,289 shares of the auto parts company’s stock worth $137,417,000 after buying an additional 1,190,369 shares during the period. Vanguard Group Inc. boosted its holdings in BorgWarner by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 20,162,288 shares of the auto parts company’s stock worth $842,583,000 after buying an additional 616,244 shares during the period. Victory Capital Management Inc. boosted its holdings in BorgWarner by 16.1% in the 2nd quarter. Victory Capital Management Inc. now owns 3,854,638 shares of the auto parts company’s stock worth $163,282,000 after buying an additional 533,701 shares during the period. Finally, Strs Ohio boosted its holdings in BorgWarner by 3,368.8% in the 2nd quarter. Strs Ohio now owns 548,001 shares of the auto parts company’s stock worth $23,213,000 after buying an additional 532,203 shares during the period. 91.11% of the stock is owned by institutional investors.
Several research analysts recently weighed in on BWA shares. BidaskClub downgraded shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 21st. ValuEngine downgraded shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research raised shares of BorgWarner from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Wednesday, May 31st. Deutsche Bank AG reiterated a “buy” rating and issued a $54.00 price target on shares of BorgWarner in a research note on Wednesday, May 31st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $50.00 price target on shares of BorgWarner in a research note on Wednesday, May 31st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $43.93.
Shares of BorgWarner Inc. (NYSE:BWA) traded up 0.26% during mid-day trading on Friday, hitting $46.20. 903,768 shares of the stock traded hands. The firm has a 50 day moving average of $45.56 and a 200 day moving average of $42.86. BorgWarner Inc. has a 12 month low of $33.09 and a 12 month high of $48.03. The company has a market cap of $9.75 billion, a P/E ratio of 51.51 and a beta of 1.73.
BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.27 billion. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. BorgWarner’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. Equities analysts anticipate that BorgWarner Inc. will post $3.70 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.21%. BorgWarner’s payout ratio is presently 62.92%.
In related news, EVP Tonit M. Calaway sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $44.99, for a total transaction of $134,970.00. Following the transaction, the executive vice president now directly owns 34,120 shares in the company, valued at $1,535,058.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brady D. Ericson sold 11,052 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $45.38, for a total transaction of $501,539.76. Following the transaction, 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. Insiders have sold 15,052 shares of company stock worth $680,570 over the last 90 days. 0.66% of the stock is currently owned by company 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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