BorgWarner Inc. (BWA) Shares Sold by GAM Holding AG
GAM Holding AG cut its position in shares of BorgWarner Inc. (NYSE:BWA) by 9.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,275 shares of the company’s stock after selling 14,821 shares during the period. GAM Holding AG owned 0.07% of BorgWarner worth $5,146,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of BorgWarner by 2.0% in the second quarter. Vanguard Group Inc. now owns 19,469,808 shares of the company’s stock worth $574,749,000 after buying an additional 384,993 shares during the period. Harris Associates L P raised its position in shares of BorgWarner by 18.5% in the second quarter. Harris Associates L P now owns 10,074,318 shares of the company’s stock worth $297,394,000 after buying an additional 1,570,440 shares during the period. Alecta Pensionsforsakring Omsesidigt raised its position in shares of BorgWarner by 4.6% in the third quarter. Alecta Pensionsforsakring Omsesidigt now owns 7,425,000 shares of the company’s stock worth $261,137,000 after buying an additional 325,000 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of BorgWarner by 0.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,693,136 shares of the company’s stock worth $168,061,000 after buying an additional 27,275 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of BorgWarner by 284.3% in the third quarter. JPMorgan Chase & Co. now owns 4,994,064 shares of the company’s stock worth $175,693,000 after buying an additional 3,694,451 shares during the period. Institutional investors own 86.26% of the company’s stock.
Shares of BorgWarner Inc. (NYSE:BWA) traded up 3.31% on Wednesday, reaching $35.60. 3,183,541 shares of the company’s stock traded hands. The firm has a market capitalization of $7.58 billion, a P/E ratio of 14.50 and a beta of 1.75. The company’s 50-day moving average is $35.05 and its 200-day moving average is $33.80. BorgWarner Inc. has a 52 week low of $27.52 and a 52 week high of $44.35.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, October 27th. The company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. The company earned $2.21 billion during the quarter, compared to the consensus estimate of $2.19 billion. BorgWarner had a net margin of 6.01% and a return on equity of 18.50%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 earnings per share. Equities research analysts anticipate that BorgWarner Inc. will post $3.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.57%. This is an increase from BorgWarner’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, November 29th. BorgWarner’s payout ratio is currently 21.14%.
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BWA has been the topic of a number of research analyst reports. Seaport Global Securities initiated coverage on shares of BorgWarner in a report on Tuesday, August 9th. They issued a “neutral” rating on the stock. Berenberg Bank assumed coverage on shares of BorgWarner in a research note on Tuesday, November 22nd. They issued a “sell” rating and a $28.00 target price on the stock. Bank of America Corp. downgraded shares of BorgWarner from a “neutral” rating to an “underperform” rating and cut their target price for the company from $39.00 to $29.00 in a research note on Wednesday, November 9th. Jefferies Group assumed coverage on shares of BorgWarner in a research note on Wednesday. They issued a “buy” rating and a $43.00 target price on the stock. Finally, Buckingham Research assumed coverage on shares of BorgWarner in a research note on Tuesday, August 2nd. They issued a “neutral” rating and a $33.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $37.46.
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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