Legal & General Group Plc Has $46.67 Million Stake in BorgWarner Inc. (BWA)
Legal & General Group Plc increased its position in BorgWarner Inc. (NYSE:BWA) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,101,656 shares of the auto parts company’s stock after buying an additional 57,855 shares during the period. Legal & General Group Plc owned approximately 0.52% of BorgWarner worth $46,665,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of BWA. CENTRAL TRUST Co increased its stake in shares of BorgWarner by 5.3% in the second quarter. CENTRAL TRUST Co now owns 2,679 shares of the auto parts company’s stock worth $114,000 after buying an additional 135 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of BorgWarner by 6.8% in the first quarter. Van ECK Associates Corp now owns 2,702 shares of the auto parts company’s stock worth $113,000 after buying an additional 171 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of BorgWarner during the first quarter worth about $105,000. SRS Capital Advisors Inc. increased its stake in shares of BorgWarner by 13.7% in the first quarter. SRS Capital Advisors Inc. now owns 2,929 shares of the auto parts company’s stock worth $122,000 after buying an additional 354 shares in the last quarter. Finally, Whittier Trust Co. increased its stake in shares of BorgWarner by 6.4% in the first quarter. Whittier Trust Co. now owns 3,165 shares of the auto parts company’s stock worth $132,000 after buying an additional 189 shares in the last quarter. 91.06% of the stock is currently owned by institutional investors and hedge funds.
BorgWarner Inc. (NYSE:BWA) opened at 44.25 on Tuesday. The company has a market capitalization of $9.34 billion, a PE ratio of 49.33 and a beta of 1.73. The stock has a 50 day moving average price of $45.61 and a 200-day moving average price of $42.58. BorgWarner Inc. has a 52 week low of $33.09 and a 52 week high of $48.03.
BorgWarner (NYSE:BWA) last announced 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. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the business posted $0.84 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities analysts predict that BorgWarner Inc. will post $3.70 earnings per share for the current fiscal year.
The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.27%. BorgWarner’s dividend payout ratio is currently 62.92%.
A number of brokerages recently issued reports on BWA. Zacks Investment Research raised BorgWarner from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, August 22nd. Barclays PLC set a $46.00 target price on BorgWarner and gave the stock a “hold” rating in a research note on Sunday, August 6th. Deutsche Bank AG upped their target price on BorgWarner from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. BidaskClub cut BorgWarner from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Bank of America Corporation restated an “underperform” rating and set a $27.00 target price (down from $30.00) on shares of BorgWarner in a research note on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $42.67.
In other news, Director Dennis C. Cuneo sold 1,000 shares of BorgWarner stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tonit M. Calaway sold 3,000 shares of BorgWarner 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 approximately $1,535,058.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,052 shares of company stock valued at $680,570. Company insiders own 0.66% of the company’s stock.
BorgWarner Company Profile
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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