Twin Capital Management Inc. lowered its stake in shares of BorgWarner Inc. (NYSE:BWA) by 74.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,950 shares of the auto parts company’s stock after selling 38,550 shares during the quarter. Twin Capital Management Inc.’s holdings in BorgWarner were worth $544,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of BWA. Dimensional Fund Advisors LP increased its holdings in shares of BorgWarner by 31.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,636,739 shares of the auto parts company’s stock valued at $126,343,000 after acquiring an additional 879,547 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt increased its holdings in BorgWarner by 9.6% in the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 6,075,000 shares of the auto parts company’s stock worth $233,341,000 after buying an additional 530,000 shares during the period. Wedge Capital Management L L P NC acquired a new position in BorgWarner in the 1st quarter worth approximately $12,957,000. Victory Capital Management Inc. increased its holdings in BorgWarner by 6.6% in the 1st quarter. Victory Capital Management Inc. now owns 5,159,790 shares of the auto parts company’s stock worth $198,188,000 after buying an additional 317,222 shares during the period. Finally, Nordea Investment Management AB increased its holdings in BorgWarner by 23.8% in the 1st quarter. Nordea Investment Management AB now owns 1,296,956 shares of the auto parts company’s stock worth $49,817,000 after buying an additional 249,129 shares during the period. Hedge funds and other institutional investors own 89.51% of the company’s stock.
Several equities analysts recently weighed in on BWA shares. Bank of America reiterated a “neutral” rating and issued a $46.00 price target (up previously from $42.00) on shares of BorgWarner in a report on Tuesday, April 23rd. Morgan Stanley set a $47.00 price target on shares of BorgWarner and gave the stock a “buy” rating in a report on Wednesday, June 26th. Credit Suisse Group cut their price target on shares of BorgWarner from $50.00 to $47.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. ValuEngine downgraded shares of BorgWarner from a “sell” rating to a “strong sell” rating in a report on Saturday, August 10th. Finally, Citigroup cut their price target on shares of BorgWarner from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $46.93.
BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, July 25th. The auto parts company reported $1.00 EPS for the quarter, hitting analysts’ consensus estimates of $1.00. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.52 billion. BorgWarner had a net margin of 7.53% and a return on equity of 20.13%. The business’s revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the company earned $1.18 EPS. Research analysts expect that BorgWarner Inc. will post 3.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.13%. BorgWarner’s payout ratio is 15.18%.
BorgWarner Company Profile
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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