Global X Management Co. LLC raised its stake in shares of BorgWarner Inc. (NYSE:BWA) by 57.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 5,832 shares of the auto parts company’s stock after buying an additional 2,138 shares during the period. Global X Management Co. LLC’s holdings in BorgWarner were worth $247,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Advisor Partners LLC raised its stake in shares of BorgWarner by 16.0% in the second quarter. Advisor Partners LLC now owns 8,906 shares of the auto parts company’s stock worth $377,000 after buying an additional 1,229 shares in the last quarter. Davis R M Inc. raised its stake in BorgWarner by 4.0% in the second quarter. Davis R M Inc. now owns 634,611 shares of the auto parts company’s stock valued at $26,882,000 after buying an additional 24,584 shares during the period. Candriam Luxembourg S.C.A. raised its stake in BorgWarner by 763.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 117,974 shares of the auto parts company’s stock valued at $4,998,000 after buying an additional 104,312 shares during the period. Bessemer Group Inc. raised its stake in BorgWarner by 6.7% in the second quarter. Bessemer Group Inc. now owns 10,066 shares of the auto parts company’s stock valued at $427,000 after buying an additional 628 shares during the period. Finally, Cambiar Investors LLC raised its stake in BorgWarner by 2.9% in the second quarter. Cambiar Investors LLC now owns 95,601 shares of the auto parts company’s stock valued at $4,050,000 after buying an additional 2,704 shares during the period. 92.35% of the stock is currently owned by institutional investors and hedge funds.
BorgWarner Inc. (NYSE BWA) opened at 44.93 on Wednesday. The stock has a 50 day moving average of $45.52 and a 200 day moving average of $42.50. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 50.09 and a beta of 1.73. BorgWarner Inc. has a one year low of $33.09 and a one year high of $48.03.
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 analysts’ consensus estimates of $0.89 by $0.07. The firm had revenue of $2.39 billion during 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 company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. Analysts forecast that BorgWarner Inc. will post $3.70 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders 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 dividend yield of 1.25%. BorgWarner’s dividend payout ratio is 62.92%.
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Several research analysts recently weighed in on the stock. BMO Capital Markets reaffirmed 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. Barclays PLC set a $46.00 price objective on shares of BorgWarner and gave the company a “hold” rating in a report on Sunday, August 6th. Deutsche Bank AG increased their price objective on shares of BorgWarner from $54.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research raised shares of BorgWarner from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $44.00 price target on shares of BorgWarner in a report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $42.67.
In related news, insider Brady D. Ericson sold 11,052 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $45.38, for a total value of $501,539.76. Following the completion of the transaction, the insider now directly owns 23,418 shares in the company, valued at $1,062,708.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis C. Cuneo sold 1,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $44.06, for a total value of $44,060.00. Following the completion of the transaction, the director now owns 13,398 shares of the company’s stock, valued at $590,315.88. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.
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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