Synovus Financial Corp bought a new stake in BorgWarner Inc. (NYSE:BWA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 48,834 shares of the auto parts company’s stock, valued at approximately $2,495,000.
Other institutional investors have also made changes to their positions in the company. BP PLC boosted its position in shares of BorgWarner by 212.0% in the fourth quarter. BP PLC now owns 78,000 shares of the auto parts company’s stock valued at $3,984,000 after acquiring an additional 53,000 shares during the period. Prudential Financial Inc. boosted its position in shares of BorgWarner by 154.3% in the third quarter. Prudential Financial Inc. now owns 2,076,392 shares of the auto parts company’s stock valued at $106,373,000 after acquiring an additional 1,259,970 shares during the period. Janus Henderson Group PLC boosted its position in shares of BorgWarner by 37.3% in the third quarter. Janus Henderson Group PLC now owns 62,635 shares of the auto parts company’s stock valued at $3,209,000 after acquiring an additional 17,021 shares during the period. Toronto Dominion Bank boosted its position in shares of BorgWarner by 11.4% in the third quarter. Toronto Dominion Bank now owns 75,840 shares of the auto parts company’s stock valued at $3,885,000 after acquiring an additional 7,746 shares during the period. Finally, New Amsterdam Partners LLC NY bought a new stake in shares of BorgWarner in the third quarter valued at about $454,000. 96.75% of the stock is owned by institutional investors.
In other news, VP Joel Wiegert sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $52.35, for a total value of $73,290.00. Following the completion of the transaction, the vice president now owns 16,197 shares of the company’s stock, valued at $847,912.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John J. Gasparovic sold 38,409 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $52.60, for a total value of $2,020,313.40. Following the completion of the transaction, the executive vice president now directly owns 63,937 shares of the company’s stock, valued at approximately $3,363,086.20. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.
BorgWarner (NYSE:BWA) last issued its earnings results on Thursday, February 8th. The auto parts company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.06. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.53 billion. BorgWarner had a return on equity of 21.92% and a net margin of 4.49%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share. sell-side analysts forecast that BorgWarner Inc. will post 4.27 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Wednesday, February 28th. BorgWarner’s payout ratio is 32.85%.
A number of brokerages have recently issued reports on BWA. ValuEngine raised shares of BorgWarner from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Barclays reissued a “hold” rating and issued a $58.00 target price on shares of BorgWarner in a research report on Sunday, January 21st. Zacks Investment Research cut shares of BorgWarner from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. BMO Capital Markets boosted their target price on shares of BorgWarner from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, October 30th. Finally, Oppenheimer began coverage on BorgWarner in a research note on Thursday, December 7th. They issued an “outperform” rating and a $63.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $52.59.
COPYRIGHT VIOLATION NOTICE: This article was originally posted by BBNS and is the sole property of of BBNS. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://baseballnewssource.com/markets/synovus-financial-corp-acquires-shares-of-48834-borgwarner-inc-bwa/1896234.html.
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.
Want to see what other hedge funds are holding BWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BorgWarner Inc. (NYSE:BWA).
Receive News & Ratings for BorgWarner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BorgWarner and related companies with MarketBeat.com's FREE daily email newsletter.