HighPoint Advisor Group LLC continued to hold its stake in BorgWarner Inc. (NYSE:BWA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,912 shares of the auto parts company’s stock at the close of the second quarter. HighPoint Advisor Group LLC’s holdings in BorgWarner were worth $743,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Scotia Capital Inc. boosted its position in shares of BorgWarner by 2.6% in the 2nd quarter. Scotia Capital Inc. now owns 12,973 shares of the auto parts company’s stock worth $550,000 after purchasing an additional 328 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of BorgWarner in the 2nd quarter worth $639,000. Bank of Nova Scotia boosted its position in shares of BorgWarner by 9.5% in the 2nd quarter. Bank of Nova Scotia now owns 45,062 shares of the auto parts company’s stock worth $1,909,000 after purchasing an additional 3,904 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of BorgWarner by 6.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 20,069 shares of the auto parts company’s stock worth $850,000 after purchasing an additional 1,223 shares during the last quarter. Finally, 361 Capital LLC bought a new position in shares of BorgWarner in the 2nd quarter worth $1,630,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.
Several research analysts have recently issued reports on the company. KeyCorp restated a “buy” rating and issued a $56.00 price target (up from $50.00) on shares of BorgWarner in a research report on Friday. Barclays PLC set a $46.00 price target on BorgWarner and gave the stock a “hold” rating in a research report on Sunday, August 6th. Deutsche Bank AG raised their price target on BorgWarner from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research upgraded BorgWarner from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, August 22nd. Finally, BidaskClub lowered BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $45.60.
In related news, EVP Tonit M. Calaway sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $44.99, for a total value of $134,970.00. Following the transaction, the executive vice president now owns 34,120 shares of the company’s stock, valued at approximately $1,535,058.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the insider now directly owns 23,418 shares in the company, valued at approximately $1,062,708.84. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.
BorgWarner Inc. (NYSE:BWA) traded up 0.92% on Friday, reaching $51.39. The company’s stock had a trading volume of 305,028 shares. BorgWarner Inc. has a 12 month low of $33.09 and a 12 month high of $52.71. The company has a market cap of $10.85 billion, a P/E ratio of 57.29 and a beta of 1.76. The stock’s 50 day moving average price is $48.75 and its 200 day moving average price is $44.23.
BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.07. The company 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 business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. Equities research analysts forecast that BorgWarner Inc. will post $3.70 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.10%. BorgWarner’s dividend payout ratio (DPR) is presently 62.92%.
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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