Earnest Partners LLC cut its position in BorgWarner Inc. (NYSE:BWA) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,176,278 shares of the auto parts company’s stock after selling 19,364 shares during the quarter. Earnest Partners LLC owned about 0.56% of BorgWarner worth $49,827,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of BWA. UBS Asset Management Americas Inc. increased its stake in BorgWarner by 7.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 619,106 shares of the auto parts company’s stock valued at $25,872,000 after buying an additional 42,792 shares during the period. Ameritas Investment Partners Inc. acquired a new position in BorgWarner during the 1st quarter valued at about $201,000. Pacer Advisors Inc. increased its stake in BorgWarner by 3.1% during the 1st quarter. Pacer Advisors Inc. now owns 4,092 shares of the auto parts company’s stock valued at $171,000 after buying an additional 123 shares during the period. Clinton Group Inc. acquired a new position in BorgWarner during the 1st quarter valued at about $205,000. Finally, Kiltearn Partners LLP increased its stake in BorgWarner by 2.8% during the 1st quarter. Kiltearn Partners LLP now owns 3,124,152 shares of the auto parts company’s stock valued at $130,558,000 after buying an additional 84,900 shares during the period. Hedge funds and other institutional investors own 91.06% of the company’s stock.
In related news, insider Brady D. Ericson sold 11,052 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 23,418 shares of the company’s stock, valued at approximately $1,062,708.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Tonit M. Calaway sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $44.99, for a total value of $134,970.00. Following the transaction, the executive vice president now directly 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. Company insiders own 0.66% of the company’s stock.
Several brokerages have recently issued reports on BWA. KeyCorp lifted their price objective on shares of BorgWarner from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday. Deutsche Bank AG downgraded shares of BorgWarner from a “buy” rating to a “hold” rating and set a $55.00 target price on the stock. in a research report on Thursday, October 12th. Zacks Investment Research downgraded shares of BorgWarner from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. BMO Capital Markets reissued an “outperform” rating on shares of BorgWarner in a research report on Tuesday, September 12th. Finally, ValuEngine downgraded shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $45.60.
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Shares of BorgWarner Inc. (NYSE BWA) traded down 0.19% during midday trading on Tuesday, reaching $52.07. 195,733 shares of the company’s stock traded hands. The stock has a 50 day moving average of $49.09 and a 200-day moving average of $44.34. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 58.05 and a beta of 1.75. BorgWarner Inc. has a 52-week low of $33.09 and a 52-week high of $52.71.
BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.07. BorgWarner had a return on equity of 24.24% and a net margin of 9.25%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company earned $0.84 EPS. BorgWarner’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts expect that BorgWarner Inc. will post $3.70 EPS for the current year.
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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