Aviva PLC trimmed its position in BorgWarner Inc. (NYSE:BWA) by 1.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 78,829 shares of the auto parts company’s stock after selling 1,500 shares during the quarter. Aviva PLC’s holdings in BorgWarner were worth $3,826,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. grew its holdings in BorgWarner by 17.4% during the 1st quarter. BlackRock Inc. now owns 22,568,526 shares of the auto parts company’s stock valued at $1,046,276,000 after buying an additional 3,340,790 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in BorgWarner by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,357,129 shares of the auto parts company’s stock valued at $294,719,000 after buying an additional 104,001 shares in the last quarter. Franklin Resources Inc. grew its holdings in BorgWarner by 18.9% during the 1st quarter. Franklin Resources Inc. now owns 5,122,935 shares of the auto parts company’s stock valued at $237,499,000 after buying an additional 812,753 shares in the last quarter. Waddell & Reed Financial Inc. grew its holdings in BorgWarner by 17.4% during the 1st quarter. Waddell & Reed Financial Inc. now owns 3,971,518 shares of the auto parts company’s stock valued at $184,120,000 after buying an additional 588,982 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in BorgWarner by 1.7% during the 2nd quarter. American Century Companies Inc. now owns 3,933,662 shares of the auto parts company’s stock valued at $190,940,000 after buying an additional 66,527 shares in the last quarter. 92.85% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on BWA. Wells Fargo & Company lowered their target price on BorgWarner from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, September 10th. Robert W. Baird increased their target price on BorgWarner from $53.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, June 9th. They noted that the move was a valuation call. Finally, Barclays lowered their target price on BorgWarner from $52.00 to $50.00 and set an “equal weight” rating for the company in a research report on Friday, August 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $49.43.
BorgWarner (NYSE:BWA) last released its earnings results on Tuesday, August 3rd. The auto parts company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.28. BorgWarner had a return on equity of 15.95% and a net margin of 5.49%. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same quarter last year, the firm posted ($0.14) earnings per share. The business’s revenue was up 163.5% compared to the same quarter last year. Research analysts expect that BorgWarner Inc. will post 4.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st were paid a $0.17 dividend. The ex-dividend date was Tuesday, August 31st. This represents a $0.68 dividend on an annualized basis and a yield of 1.58%. BorgWarner’s payout ratio is 24.64%.
BorgWarner Company Profile
BorgWarner, Inc engages in the provision of technology solutions for combustion, hybrid and electric vehicles. It operates through the following segments: Air Management, e-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment develops and manufactures products to improve fuel economy, reduce emissions and enhance performance.
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