BorgWarner Inc. (BWA) Stake Increased by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System boosted its position in BorgWarner Inc. (NYSE:BWA) by 1.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 327,730 shares of the auto parts company’s stock after buying an additional 6,146 shares during the period. State Board of Administration of Florida Retirement System owned 0.16% of BorgWarner worth $13,883,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in BWA. BlackRock Inc. boosted its stake 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 during the last quarter. Pioneer Investment Management Inc. boosted its stake in 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 valued at $137,417,000 after buying an additional 1,190,369 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 valued at $842,583,000 after buying an additional 616,244 shares during the last quarter. Strs Ohio boosted its stake in BorgWarner by 3,368.8% in the second quarter. Strs Ohio now owns 548,001 shares of the auto parts company’s stock valued at $23,213,000 after buying an additional 532,203 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in 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 valued at $107,231,000 after buying an additional 496,065 shares during the last quarter. Institutional investors own 91.06% of the company’s stock.
Shares of BorgWarner Inc. (NYSE:BWA) opened at 44.25 on Tuesday. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 49.33 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 quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.27 billion. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 earnings per share. Equities research analysts predict 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. Stockholders of record on Friday, September 1st will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Wednesday, August 30th. BorgWarner’s payout ratio is currently 62.92%.
Several equities research analysts recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating and issued a $55.00 price target (up previously from $50.00) on shares of BorgWarner in a research report on Friday, July 28th. Barclays PLC set a $46.00 price objective on shares of BorgWarner and gave the stock a “hold” rating in a research note on Sunday, August 6th. Deutsche Bank AG boosted their target price on shares of BorgWarner from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research raised shares of BorgWarner from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $44.00 target price on shares of BorgWarner in a research note on Wednesday, July 12th. Three research 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. BorgWarner has an average rating of “Hold” and an average target price of $42.67.
In related news, insider Brady D. Ericson sold 11,052 shares of the business’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 completion of the transaction, the insider now owns 23,418 shares in the company, valued at approximately $1,062,708.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis C. Cuneo sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $44.06, for a total transaction of $44,060.00. Following the completion of 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. Insiders sold a total of 15,052 shares of company stock worth $680,570 over the last three months. 0.66% of the stock is owned by company insiders.
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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