Kornitzer Capital Management Inc. KS Increases Stock Position in BorgWarner Inc. (NYSE:BWA)

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Kornitzer Capital Management Inc. KS increased its position in BorgWarner Inc. (NYSE:BWA) by 1.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 99,835 shares of the auto parts company’s stock after buying an additional 1,730 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in BorgWarner were worth $3,662,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in BorgWarner by 16.7% during the 3rd quarter. Empowered Funds LLC now owns 65,974 shares of the auto parts company’s stock valued at $2,420,000 after acquiring an additional 9,426 shares during the last quarter. First Mercantile Trust Co. bought a new position in BorgWarner during the 3rd quarter valued at $342,000. Mackay Shields LLC lifted its position in shares of BorgWarner by 5.7% in the 3rd quarter. Mackay Shields LLC now owns 32,448 shares of the auto parts company’s stock worth $1,190,000 after buying an additional 1,759 shares during the last quarter. IFM Investors Pty Ltd lifted its position in shares of BorgWarner by 38.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 20,262 shares of the auto parts company’s stock worth $743,000 after buying an additional 5,669 shares during the last quarter. Finally, Verity Asset Management Inc. lifted its position in shares of BorgWarner by 9.3% in the 3rd quarter. Verity Asset Management Inc. now owns 7,231 shares of the auto parts company’s stock worth $265,000 after buying an additional 615 shares during the last quarter. Institutional investors and hedge funds own 90.68% of the company’s stock.

Shares of BWA stock traded up $0.34 during trading hours on Friday, reaching $46.31. The stock had a trading volume of 1,030,509 shares, compared to its average volume of 1,679,818. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.58 and a quick ratio of 1.26. BorgWarner Inc. has a twelve month low of $30.71 and a twelve month high of $46.33. The firm has a 50-day simple moving average of $38.56 and a 200-day simple moving average of $38.07. The firm has a market capitalization of $9.30 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 1.48 and a beta of 1.85.

BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, October 31st. The auto parts company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.11. BorgWarner had a net margin of 7.43% and a return on equity of 19.43%. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the company earned $1.00 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts anticipate that BorgWarner Inc. will post 3.92 earnings per share for the current year.

A number of research firms have recently issued reports on BWA. Nomura began coverage on shares of BorgWarner in a research report on Tuesday, August 27th. They issued a “buy” rating and a $41.00 price target on the stock. UBS Group reduced their price target on shares of BorgWarner from $49.00 to $46.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Barclays restated a “buy” rating and issued a $46.00 price target on shares of BorgWarner in a research report on Sunday, November 3rd. Citigroup reduced their price target on shares of BorgWarner from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada set a $41.00 price target on shares of BorgWarner and gave the stock a “hold” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. BorgWarner currently has a consensus rating of “Hold” and an average target price of $45.33.

BorgWarner Profile

BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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