Comerica Bank decreased its stake in shares of BorgWarner Inc. (NYSE:BWA) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,270 shares of the auto parts company’s stock after selling 1,859 shares during the period. Comerica Bank’s holdings in BorgWarner were worth $2,293,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in BorgWarner by 3.2% during the first quarter. Vanguard Group Inc. now owns 20,162,288 shares of the auto parts company’s stock worth $842,583,000 after buying an additional 616,244 shares in the last quarter. BlackRock Inc. lifted its stake in shares of BorgWarner by 3,228.4% during the first quarter. BlackRock Inc. now owns 13,090,582 shares of the auto parts company’s stock worth $547,056,000 after purchasing an additional 12,697,279 shares in the last quarter. Boston Partners lifted its stake in shares of BorgWarner by 2.2% during the second quarter. Boston Partners now owns 10,810,607 shares of the auto parts company’s stock worth $457,937,000 after purchasing an additional 229,447 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of BorgWarner by 2.1% in the second quarter. Diamond Hill Capital Management Inc. now owns 8,486,663 shares of the auto parts company’s stock worth $359,495,000 after acquiring an additional 176,245 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of BorgWarner by 1.4% in the first quarter. JPMorgan Chase & Co. now owns 5,408,179 shares of the auto parts company’s stock worth $226,008,000 after acquiring an additional 76,928 shares in the last quarter. 91.11% of the stock is owned by institutional investors.
Several research firms have recently commented on BWA. Zacks Investment Research raised BorgWarner from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Wednesday, May 31st. Deutsche Bank AG boosted their price objective on BorgWarner from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. CLSA began coverage on BorgWarner in a research report on Thursday, June 22nd. They issued a “hold” rating and a $45.00 target price for the company. Royal Bank Of Canada restated a “hold” rating and issued a $44.00 target price on shares of BorgWarner in a research report on Wednesday, July 12th. Finally, BidaskClub downgraded BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $44.00.
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BorgWarner Inc. (NYSE BWA) traded up 0.31% during midday trading on Friday, reaching $48.42. 220,480 shares of the company’s stock were exchanged. BorgWarner Inc. has a 52 week low of $33.09 and a 52 week high of $48.58. The company has a market cap of $10.22 billion, a price-to-earnings ratio of 53.98 and a beta of 1.73. The firm has a 50-day moving average price of $45.82 and a 200 day moving average price of $43.01.
BorgWarner (NYSE:BWA) last announced its quarterly earnings results 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 net margin of 2.06% and a return on equity of 20.75%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the company posted $0.84 EPS. The company’s revenue was up 2.5% on a year-over-year basis. 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. Stockholders of record on Friday, September 1st will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, August 30th. BorgWarner’s dividend payout ratio (DPR) is presently 62.92%.
In related news, insider Brady D. Ericson sold 11,052 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total transaction of $501,539.76. Following the transaction, the insider now directly owns 23,418 shares of the company’s stock, valued at $1,062,708.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Tonit M. Calaway sold 3,000 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total transaction of $134,970.00. Following the transaction, the executive vice president now directly owns 34,120 shares in the company, valued at $1,535,058.80. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
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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