Trilogy Global Advisors LP lessened its position in shares of BorgWarner Inc. (NYSE:BWA) by 47.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,538 shares of the auto parts company’s stock after selling 121,435 shares during the period. Trilogy Global Advisors LP owned 0.06% of BorgWarner worth $5,614,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank raised its stake in shares of BorgWarner by 55.5% during the 1st quarter. Toronto Dominion Bank now owns 54,501 shares of the auto parts company’s stock valued at $2,277,000 after purchasing an additional 19,447 shares during the period. Scopus Asset Management L.P. bought a new stake in shares of BorgWarner during the 1st quarter valued at $4,179,000. Strs Ohio raised its stake in shares of BorgWarner by 4.2% during the 1st quarter. Strs Ohio now owns 15,798 shares of the auto parts company’s stock valued at $660,000 after purchasing an additional 631 shares during the period. Black Creek Investment Management Inc. raised its stake in shares of BorgWarner by 20.5% during the 1st quarter. Black Creek Investment Management Inc. now owns 2,010,675 shares of the auto parts company’s stock valued at $84,026,000 after purchasing an additional 342,700 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its stake in shares of BorgWarner by 20.9% during the 1st quarter. NN Investment Partners Holdings N.V. now owns 22,969 shares of the auto parts company’s stock valued at $960,000 after purchasing an additional 3,969 shares during the period. 91.09% of the stock is currently owned by hedge funds and other institutional investors.
BorgWarner Inc. (NYSE:BWA) traded down 0.08% on Wednesday, hitting $49.05. The stock had a trading volume of 90,137 shares. The firm has a market capitalization of $10.35 billion, a price-to-earnings ratio of 54.68 and a beta of 1.73. BorgWarner Inc. has a 1-year low of $33.09 and a 1-year high of $49.35. The stock’s 50-day moving average is $46.01 and its 200 day moving average is $43.15.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.27 billion. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. BorgWarner’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. On average, equities research analysts predict that BorgWarner Inc. will post $3.70 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.14%. BorgWarner’s dividend payout ratio is currently 62.92%.
In other BorgWarner 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 transaction of $501,539.76. Following the completion of the sale, the insider now owns 23,418 shares in the company, valued at $1,062,708.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Tonit M. Calaway sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total value of $134,970.00. Following the sale, the executive vice president now owns 34,120 shares of the company’s stock, valued at approximately $1,535,058.80. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.
A number of analysts recently issued reports on the company. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 price objective on shares of BorgWarner in a research note on Wednesday, May 31st. Royal Bank Of Canada reiterated a “hold” rating and set a $44.00 price objective on shares of BorgWarner in a research note on Wednesday, July 12th. BidaskClub lowered BorgWarner from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded BorgWarner from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Tuesday, September 5th. Finally, Guggenheim assumed coverage on BorgWarner in a research note on Wednesday, June 21st. They set a “neutral” rating and a $45.00 price objective on the stock. Three 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 an average rating of “Hold” and a consensus price target of $44.00.
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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