CENTRAL TRUST Co boosted its position in shares of BorgWarner Inc. (NYSE:BWA) by 5.3% during the second quarter, Holdings Channel reports. The firm owned 2,679 shares of the auto parts company’s stock after buying an additional 135 shares during the period. CENTRAL TRUST Co’s holdings in BorgWarner were worth $114,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BWA. Van ECK Associates Corp boosted its position in shares of BorgWarner by 6.8% in the first quarter. Van ECK Associates Corp now owns 2,702 shares of the auto parts company’s stock worth $113,000 after buying an additional 171 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of BorgWarner during the first quarter worth about $105,000. SRS Capital Advisors Inc. boosted its position in shares of BorgWarner by 13.7% in the first quarter. SRS Capital Advisors Inc. now owns 2,929 shares of the auto parts company’s stock worth $122,000 after buying an additional 354 shares during the period. Whittier Trust Co. boosted its position in shares of BorgWarner by 6.4% in the first quarter. Whittier Trust Co. now owns 3,165 shares of the auto parts company’s stock worth $132,000 after buying an additional 189 shares during the period. Finally, Global X Management Co. LLC boosted its position in shares of BorgWarner by 29.9% in the first quarter. Global X Management Co. LLC now owns 3,694 shares of the auto parts company’s stock worth $154,000 after buying an additional 851 shares during the period. 91.95% of the stock is currently owned by institutional investors and hedge funds.
Shares of BorgWarner Inc. (NYSE BWA) opened at 44.92 on Friday. The company has a market cap of $9.53 billion, a PE ratio of 66.85 and a beta of 1.72. BorgWarner Inc. has a 52 week low of $31.49 and a 52 week high of $47.00. The company has a 50 day moving average of $43.47 and a 200 day moving average of $41.65.
BorgWarner (NYSE:BWA) last released its earnings results on Thursday, April 27th. The auto parts company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.07. BorgWarner had a net margin of 1.56% and a return on equity of 20.10%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the firm earned $0.80 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts expect that BorgWarner Inc. will post $3.58 EPS for the current year.
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A number of research analysts recently issued reports on the stock. Zacks Investment Research raised shares of BorgWarner from a “sell” rating to a “hold” rating in a research note on Tuesday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $44.00 target price on shares of BorgWarner in a research note on Wednesday, July 12th. BidaskClub raised shares of BorgWarner from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 target price on shares of BorgWarner in a research note on Tuesday, July 4th. Finally, Guggenheim initiated coverage on shares of BorgWarner in a research note on Wednesday, June 21st. They set a “neutral” rating and a $45.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $41.25.
In related news, Director Dennis C. Cuneo sold 1,000 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $44.06, for a total transaction of $44,060.00. Following the transaction, the director now owns 13,398 shares of the company’s stock, valued at approximately $590,315.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ronald T. Hundzinski sold 3,776 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $41.53, for a total transaction of $156,817.28. Following the transaction, the insider now directly owns 141,958 shares in the company, valued at approximately $5,895,515.74. The disclosure for this sale can be found here. 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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