Chevy Chase Trust Holdings Inc. decreased its stake in BorgWarner Inc. (NYSE:BWA) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 171,858 shares of the auto parts company’s stock after selling 493 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.08% of BorgWarner worth $7,280,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of BorgWarner during the first quarter valued at $105,000. Van ECK Associates Corp increased its position in shares of BorgWarner by 6.8% in the first quarter. Van ECK Associates Corp now owns 2,702 shares of the auto parts company’s stock valued at $113,000 after buying an additional 171 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of BorgWarner by 13.7% in the first quarter. SRS Capital Advisors Inc. now owns 2,929 shares of the auto parts company’s stock valued at $122,000 after buying an additional 354 shares during the last quarter. Whittier Trust Co. boosted its stake in shares of BorgWarner by 6.4% in the first quarter. Whittier Trust Co. now owns 3,165 shares of the auto parts company’s stock valued at $132,000 after buying an additional 189 shares during the last quarter. Finally, Global X Management Co. LLC boosted its stake in shares of BorgWarner by 29.9% in the first quarter. Global X Management Co. LLC now owns 3,694 shares of the auto parts company’s stock valued at $154,000 after buying an additional 851 shares during the last quarter. 92.35% of the stock is owned by institutional investors and hedge funds.
BorgWarner Inc. (NYSE:BWA) traded up 0.24% on Wednesday, reaching $45.36. The company had a trading volume of 937,129 shares. BorgWarner Inc. has a 12 month low of $33.09 and a 12 month high of $48.03. The stock has a 50 day moving average of $45.14 and a 200 day moving average of $42.38. The firm has a market capitalization of $9.57 billion, a PE ratio of 50.57 and a beta of 1.73.
BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.07. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. BorgWarner’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts anticipate that BorgWarner Inc. will post $3.70 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Wednesday, August 30th. BorgWarner’s payout ratio is currently 62.92%.
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Several analysts recently commented on the company. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 price target on shares of BorgWarner in a research report on Wednesday, May 31st. Royal Bank Of Canada reiterated a “hold” rating and set a $44.00 price target on shares of BorgWarner in a research report on Wednesday, July 12th. BidaskClub cut BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Guggenheim began coverage on BorgWarner in a report on Wednesday, June 21st. They issued a “neutral” rating and a $45.00 target price for the company. Finally, Zacks Investment Research cut BorgWarner from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $42.67.
In other news, Director Dennis C. Cuneo sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $44.06, for a total transaction of $44,060.00. Following the completion of the transaction, the director now directly owns 13,398 shares of the company’s stock, valued at $590,315.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.
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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