American Century Companies Inc. boosted its stake in shares of BorgWarner Inc. (NYSE:BWA) by 89.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 495,536 shares of the auto parts company’s stock after buying an additional 234,624 shares during the period. American Century Companies Inc. owned about 0.23% of BorgWarner worth $25,386,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. CIBC Asset Management Inc raised its holdings in BorgWarner by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 19,211 shares of the auto parts company’s stock worth $814,000 after buying an additional 61 shares during the period. Hanson & Doremus Investment Management raised its holdings in BorgWarner by 0.9% during the 2nd quarter. Hanson & Doremus Investment Management now owns 8,895 shares of the auto parts company’s stock worth $377,000 after buying an additional 75 shares during the period. Contravisory Investment Management Inc. raised its holdings in BorgWarner by 1.3% during the 2nd quarter. Contravisory Investment Management Inc. now owns 6,356 shares of the auto parts company’s stock worth $269,000 after buying an additional 79 shares during the period. Cutter & CO Brokerage Inc. raised its holdings in BorgWarner by 1.7% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 5,270 shares of the auto parts company’s stock worth $223,000 after buying an additional 90 shares during the period. Finally, MML Investors Services LLC raised its holdings in BorgWarner by 1.2% during the 2nd quarter. MML Investors Services LLC now owns 7,407 shares of the auto parts company’s stock worth $314,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 92.75% of the company’s stock.
In other BorgWarner news, EVP Tonit M. Calaway sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total transaction of $134,970.00. Following the completion of the sale, the executive vice president now owns 34,120 shares of the company’s stock, valued at $1,535,058.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.
BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.07. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.26 billion. BorgWarner had a return on equity of 21.48% and a net margin of 3.09%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. research analysts expect that BorgWarner Inc. will post 3.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. This is a boost from BorgWarner’s previous quarterly dividend of $0.14. BorgWarner’s dividend payout ratio is presently 40.58%.
BWA has been the topic of several recent analyst reports. downgraded BorgWarner from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Deutsche Bank AG downgraded BorgWarner from a “buy” rating to a “hold” rating and set a $55.00 price objective on the stock. in a report on Thursday, October 12th. Barclays PLC set a $50.00 price objective on BorgWarner and gave the stock a “hold” rating in a report on Friday, October 20th. Jefferies Group LLC reiterated a “buy” rating and issued a $56.00 target price on shares of BorgWarner in a report on Tuesday, August 29th. Finally, reiterated an “outperform” rating and issued a $55.00 target price (up previously from $50.00) on shares of BorgWarner in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.72.
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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