Janus Henderson Group PLC lessened its holdings in BorgWarner Inc. (NYSE:BWA) by 46.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 445,768 shares of the auto parts company’s stock after selling 385,263 shares during the quarter. Janus Henderson Group PLC’s holdings in BorgWarner were worth $19,070,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in BWA. American Century Companies Inc. boosted its holdings in BorgWarner by 37,503.3% in the third quarter. American Century Companies Inc. now owns 3,489,587 shares of the auto parts company’s stock worth $149,285,000 after purchasing an additional 3,480,307 shares during the period. BlackRock Inc. boosted its holdings in BorgWarner by 14.5% in the second quarter. BlackRock Inc. now owns 19,874,263 shares of the auto parts company’s stock worth $857,773,000 after purchasing an additional 2,517,481 shares during the period. JPMorgan Chase & Co. boosted its holdings in BorgWarner by 33.4% in the third quarter. JPMorgan Chase & Co. now owns 6,635,725 shares of the auto parts company’s stock worth $283,875,000 after purchasing an additional 1,661,618 shares during the period. Morgan Stanley boosted its holdings in BorgWarner by 130.9% in the second quarter. Morgan Stanley now owns 1,200,289 shares of the auto parts company’s stock worth $51,805,000 after purchasing an additional 680,461 shares during the period. Finally, OppenheimerFunds Inc. boosted its holdings in BorgWarner by 3,555.5% in the second quarter. OppenheimerFunds Inc. now owns 667,057 shares of the auto parts company’s stock worth $28,790,000 after purchasing an additional 648,809 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.
In other BorgWarner news, Director Alexis P. Michas sold 10,003 shares of the firm’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $39.99, for a total value of $400,019.97. Following the sale, the director now directly owns 78,223 shares in the company, valued at $3,128,137.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas T. Stallkamp sold 7,692 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $39.33, for a total value of $302,526.36. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at $117,990. The disclosure for this sale can be found here. Insiders sold 38,475 shares of company stock worth $1,526,992 over the last quarter. 0.74% of the stock is currently owned by company insiders.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, October 25th. The auto parts company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.45 billion. BorgWarner had a return on equity of 22.68% and a net margin of 5.26%. As a group, analysts predict that BorgWarner Inc. will post 4.37 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, November 30th. BorgWarner’s payout ratio is 17.48%.
A number of equities analysts have commented on BWA shares. Royal Bank of Canada decreased their price objective on shares of BorgWarner to $49.00 and set a “positive” rating for the company in a report on Wednesday, September 19th. ValuEngine downgraded shares of BorgWarner from a “sell” rating to a “strong sell” rating in a report on Saturday, September 1st. Oppenheimer reaffirmed a “buy” rating and issued a $51.00 price objective on shares of BorgWarner in a report on Thursday, October 25th. Buckingham Research decreased their price objective on shares of BorgWarner from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, October 3rd. Finally, Citigroup decreased their price objective on shares of BorgWarner from $52.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, October 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. BorgWarner currently has a consensus rating of “Buy” and an average target price of $53.79.
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BorgWarner Company Profile
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates through two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; and timing systems, such as timing chains, variable cam timing products, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains for light vehicles, and hybrid power transmission chains.
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