Hanson & Doremus Investment Management increased its stake in shares of BorgWarner Inc. (NYSE:BWA) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,895 shares of the auto parts company’s stock after buying an additional 75 shares during the period. Hanson & Doremus Investment Management’s holdings in BorgWarner were worth $377,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in BorgWarner by 3.2% in the first quarter. Vanguard Group Inc. now owns 20,162,288 shares of the auto parts company’s stock valued at $842,583,000 after buying an additional 616,244 shares in the last quarter. BlackRock Inc. raised its stake in BorgWarner by 3,228.4% in the first quarter. BlackRock Inc. now owns 13,090,582 shares of the auto parts company’s stock valued at $547,056,000 after buying an additional 12,697,279 shares in the last quarter. Boston Partners raised its stake in BorgWarner by 3.9% in the first quarter. Boston Partners now owns 10,581,160 shares of the auto parts company’s stock valued at $442,187,000 after buying an additional 397,426 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in BorgWarner by 2.1% in the second quarter. Diamond Hill Capital Management Inc. now owns 8,486,663 shares of the auto parts company’s stock valued at $359,495,000 after buying an additional 176,245 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in BorgWarner by 1.4% in the first quarter. JPMorgan Chase & Co. now owns 5,408,179 shares of the auto parts company’s stock valued at $226,008,000 after buying an additional 76,928 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.
BorgWarner Inc. (NYSE:BWA) traded down 0.412% during mid-day trading on Friday, reaching $44.715. 744,262 shares of the company traded hands. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 49.849 and a beta of 1.73. BorgWarner Inc. has a 12-month low of $33.09 and a 12-month high of $48.03. The company’s 50-day moving average is $44.82 and its 200-day moving average is $42.26.
BorgWarner (NYSE:BWA) last announced its earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.07. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.27 billion. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.84 earnings per share. Equities analysts predict that BorgWarner Inc. will post $3.70 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.14 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.56 annualized dividend and a yield of 1.25%. BorgWarner’s payout ratio is 62.92%.
BWA has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on shares of BorgWarner from $34.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday, June 9th. Zacks Investment Research upgraded shares of BorgWarner from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, June 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of BorgWarner in a research note on Tuesday, July 4th. BMO Capital Markets lifted their price objective on shares of BorgWarner from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, May 1st. Finally, ValuEngine lowered shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, nine have given 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 target price of $42.67.
In other BorgWarner news, Director Dennis C. Cuneo sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $44.06, for a total value of $44,060.00. Following the transaction, the director now directly owns 13,398 shares of the company’s stock, valued at $590,315.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.
About BorgWarner
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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