SG Americas Securities LLC Lowers Stake in BorgWarner Inc. (BWA)
SG Americas Securities LLC reduced its stake in BorgWarner Inc. (NYSE:BWA) by 48.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,396 shares of the auto parts company’s stock after selling 28,733 shares during the period. SG Americas Securities LLC’s holdings in BorgWarner were worth $1,288,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank raised its position in shares of BorgWarner by 55.5% in the first quarter. Toronto Dominion Bank now owns 54,501 shares of the auto parts company’s stock valued at $2,277,000 after buying an additional 19,447 shares during the period. Scopus Asset Management L.P. bought a new position in shares of BorgWarner during the first quarter valued at approximately $4,179,000. Strs Ohio raised its position in shares of BorgWarner by 4.2% in the first quarter. Strs Ohio now owns 15,798 shares of the auto parts company’s stock valued at $660,000 after buying an additional 631 shares during the period. Black Creek Investment Management Inc. raised its position in shares of BorgWarner by 20.5% in the first quarter. Black Creek Investment Management Inc. now owns 2,010,675 shares of the auto parts company’s stock valued at $84,026,000 after buying an additional 342,700 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its position in shares of BorgWarner by 20.9% in the first quarter. NN Investment Partners Holdings N.V. now owns 22,969 shares of the auto parts company’s stock valued at $960,000 after buying an additional 3,969 shares during the period. Institutional investors and hedge funds own 91.06% of the company’s stock.
BorgWarner Inc. (BWA) opened at 46.41 on Friday. BorgWarner Inc. has a 52 week low of $33.09 and a 52 week high of $48.03. The company has a market capitalization of $9.80 billion, a price-to-earnings ratio of 51.74 and a beta of 1.73. The company has a 50 day moving average of $45.59 and a 200 day moving average of $42.70.
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, 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 company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that BorgWarner Inc. will post $3.70 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors 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 1.21%. The ex-dividend date of this dividend is Wednesday, August 30th. BorgWarner’s dividend payout ratio (DPR) is presently 62.92%.
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Several research analysts have commented on BWA shares. Zacks Investment Research lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a report on Wednesday. Bank of America Corporation restated an “underperform” rating and issued a $27.00 price objective (down from $30.00) on shares of BorgWarner in a report on Friday, June 16th. BMO Capital Markets restated an “outperform” rating and issued a $55.00 price objective (up from $50.00) on shares of BorgWarner in a report on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and issued a $56.00 price objective on shares of BorgWarner in a report on Tuesday. Finally, Morgan Stanley decreased their price objective on shares of BorgWarner from $34.00 to $32.00 and set an “underweight” rating for the company in a report on Friday, June 9th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $43.20.
In related news, EVP Tonit M. Calaway sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $44.99, for a total value of $134,970.00. Following the completion of the sale, the executive vice president now directly owns 34,120 shares of the company’s stock, valued at $1,535,058.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brady D. Ericson sold 11,052 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 23,418 shares of the company’s stock, valued at $1,062,708.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,052 shares of company stock valued at $680,570. 0.66% of the stock is owned by insiders.
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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