Canada Pension Plan Investment Board Buys 2,320 Shares of BorgWarner Inc. (BWA)
Canada Pension Plan Investment Board increased its position in BorgWarner Inc. (NYSE:BWA) by 6.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 38,850 shares of the auto parts company’s stock after buying an additional 2,320 shares during the period. Canada Pension Plan Investment Board’s holdings in BorgWarner were worth $1,646,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of 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 during the period. Pioneer Investment Management Inc. boosted its stake in shares of BorgWarner by 56.7% in the first quarter. Pioneer Investment Management Inc. now owns 3,288,289 shares of the auto parts company’s stock worth $137,417,000 after buying an additional 1,190,369 shares during the period. Vanguard Group Inc. boosted its stake in shares of 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 during the period. Strs Ohio boosted its stake in shares of BorgWarner by 3,368.8% in the second quarter. Strs Ohio now owns 548,001 shares of the auto parts company’s stock worth $23,213,000 after buying an additional 532,203 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of BorgWarner by 24.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,565,948 shares of the auto parts company’s stock worth $107,231,000 after buying an additional 496,065 shares during the period. 91.06% of the stock is currently owned by institutional investors and hedge funds.
BorgWarner Inc. (BWA) opened at 44.16 on Monday. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 49.23 and a beta of 1.73. BorgWarner Inc. has a 12 month low of $33.09 and a 12 month high of $48.03. The stock’s 50 day moving average price is $45.61 and its 200 day moving average price is $42.58.
BorgWarner (NYSE:BWA) last released its earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.07. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. 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 posted $0.84 EPS. The business’s revenue was up 2.5% on a year-over-year basis. Equities research analysts anticipate that BorgWarner Inc. will post $3.70 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders 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 yield of 1.27%. The ex-dividend date is Wednesday, August 30th. BorgWarner’s dividend payout ratio (DPR) is 62.92%.
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Several analysts have weighed in on BWA shares. TheStreet raised BorgWarner from a “c+” rating to a “b” rating in a report on Monday, May 1st. Zacks Investment Research raised BorgWarner from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Monday, May 22nd. ValuEngine cut BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $54.00 price target on shares of BorgWarner in a report on Wednesday, May 31st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of BorgWarner in a report on Wednesday, May 31st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. BorgWarner presently 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 the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total value of $501,539.76. Following the transaction, the insider now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tonit M. Calaway sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total transaction of $134,970.00. Following the completion of the transaction, the executive vice president now directly owns 34,120 shares in the company, valued at $1,535,058.80. The disclosure for this sale can be found here. Insiders sold a total of 15,052 shares of company stock worth $680,570 over the last three months. Corporate 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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