State of Wisconsin Investment Board Raises Stake in BorgWarner Inc. (BWA)
State of Wisconsin Investment Board boosted its stake in BorgWarner Inc. (NYSE:BWA) by 9.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 448,616 shares of the auto parts company’s stock after buying an additional 38,670 shares during the period. State of Wisconsin Investment Board owned about 0.21% of BorgWarner worth $19,003,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in BorgWarner by 3.2% in 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. raised its position in BorgWarner by 3,228.4% in the first quarter. BlackRock Inc. now owns 13,090,582 shares of the auto parts company’s stock worth $547,056,000 after buying an additional 12,697,279 shares in the last quarter. Boston Partners raised its position in BorgWarner by 2.2% in the second quarter. Boston Partners now owns 10,810,607 shares of the auto parts company’s stock worth $457,937,000 after buying an additional 229,447 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in 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 buying an additional 176,245 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in 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 buying an additional 76,928 shares in the last quarter. Institutional investors own 92.35% of the company’s stock.
BorgWarner Inc. (BWA) opened at 44.34 on Friday. BorgWarner Inc. has a 52 week low of $33.09 and a 52 week high of $48.03. The firm has a 50-day moving average price of $45.45 and a 200 day moving average price of $42.44. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 49.43 and a beta of 1.73.
BorgWarner (NYSE:BWA) last released its earnings results on Thursday, July 27th. The auto parts company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.07. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.27 billion. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. On average, equities research analysts forecast that BorgWarner Inc. will post $3.70 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Wednesday, August 30th. BorgWarner’s payout ratio is presently 62.92%.
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A number of research firms recently commented on BWA. BMO Capital Markets reaffirmed an “outperform” rating and issued a $55.00 price objective (up from $50.00) on shares of BorgWarner in a research note on Friday, July 28th. Barclays PLC set a $46.00 price objective on BorgWarner and gave the stock a “hold” rating in a research note on Sunday, August 6th. Deutsche Bank AG lifted their price objective on BorgWarner from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research raised BorgWarner from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $44.00 price objective on shares of BorgWarner in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $42.67.
In other BorgWarner news, insider Brady D. Ericson sold 11,052 shares of BorgWarner stock in a transaction 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 in the company, valued at $1,062,708.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dennis C. Cuneo sold 1,000 shares of BorgWarner stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $44.06, for a total value of $44,060.00. Following the transaction, the director now owns 13,398 shares of the company’s stock, valued at approximately $590,315.88. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
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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