Fisher Asset Management LLC Sells 8,595 Shares of BorgWarner Inc. (BWA)
Fisher Asset Management LLC decreased its position in BorgWarner Inc. (NYSE:BWA) by 4.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,253 shares of the company’s stock after selling 8,595 shares during the period. Fisher Asset Management LLC owned 0.09% of BorgWarner worth $7,115,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of BWA. Mizuho Asset Management Co. Ltd. raised its position in BorgWarner by 106.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,567 shares of the company’s stock worth $105,000 after buying an additional 1,837 shares during the period. River & Mercantile Asset Management LLP raised its position in BorgWarner by 166.7% in the second quarter. River & Mercantile Asset Management LLP now owns 4,000 shares of the company’s stock worth $118,000 after buying an additional 2,500 shares during the period. Pacer Advisors Inc. raised its position in BorgWarner by 7.2% in the second quarter. Pacer Advisors Inc. now owns 4,021 shares of the company’s stock worth $119,000 after buying an additional 271 shares during the period. Washington Trust Bank raised its position in BorgWarner by 1.4% in the second quarter. Washington Trust Bank now owns 4,054 shares of the company’s stock worth $120,000 after buying an additional 54 shares during the period. Finally, Seven Eight Capital LLC bought a new position in BorgWarner during the second quarter worth approximately $121,000. Hedge funds and other institutional investors own 86.26% of the company’s stock.
Shares of BorgWarner Inc. (NYSE:BWA) traded down 0.81% on Monday, reaching $35.39. The company’s stock had a trading volume of 1,620,164 shares. The stock has a 50 day moving average of $35.06 and a 200-day moving average of $33.79. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of 14.41 and a beta of 1.75. BorgWarner Inc. has a 12 month low of $27.52 and a 12 month high of $44.35.
BorgWarner (NYSE:BWA) last released its earnings results on Thursday, October 27th. The company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.19 billion. BorgWarner had a return on equity of 18.50% and a net margin of 6.01%. The firm’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 earnings per share. On average, analysts anticipate that BorgWarner Inc. will post $3.26 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, November 29th. This is a boost from BorgWarner’s previous quarterly dividend of $0.13. BorgWarner’s dividend payout ratio is currently 21.14%.
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A number of equities analysts have commented on the company. Berenberg Bank assumed coverage on BorgWarner in a research note on Tuesday, November 22nd. They set a “sell” rating and a $28.00 price objective on the stock. Zacks Investment Research upgraded BorgWarner from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Seaport Global Securities initiated coverage on BorgWarner in a research note on Tuesday, August 9th. They issued a “neutral” rating on the stock. Buckingham Research initiated coverage on BorgWarner in a research note on Tuesday, August 2nd. They issued a “neutral” rating and a $33.00 price target on the stock. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $46.00 price target on shares of BorgWarner in a research note on Wednesday, September 7th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. BorgWarner presently has a consensus rating of “Hold” and a consensus price target of $37.00.
BorgWarner Company Profile
BorgWarner Inc is a supplier of engineered automotive systems and components for powertrain applications. The Company operates through two segments: Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Drivetrain segment’s products include transmission components and systems, all-wheel drive (AWD) torque transfer systems and rotating electrical devices.
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