Pictet & Cie Europe SA Has $1.51 Million Position in BorgWarner Inc. (BWA)
Pictet & Cie Europe SA decreased its position in shares of BorgWarner Inc. (NYSE:BWA) by 26.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,595 shares of the auto parts company’s stock after selling 12,950 shares during the period. Pictet & Cie Europe SA’s holdings in BorgWarner were worth $1,508,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. PICTET BANK & TRUST Ltd increased its position in BorgWarner by 669.4% in the second quarter. PICTET BANK & TRUST Ltd now owns 47,010 shares of the auto parts company’s stock worth $1,991,000 after buying an additional 40,900 shares during the period. Delta Lloyd Asset Management N.V. bought a new position in BorgWarner during the second quarter worth about $1,063,000. Swiss National Bank increased its position in BorgWarner by 2.8% in the second quarter. Swiss National Bank now owns 775,602 shares of the auto parts company’s stock worth $32,855,000 after buying an additional 21,000 shares during the period. Pacad Investment Ltd. increased its position in BorgWarner by 23,400.0% in the second quarter. Pacad Investment Ltd. now owns 23,500 shares of the auto parts company’s stock worth $995,000 after buying an additional 23,400 shares during the period. Finally, Chicago Equity Partners LLC acquired a new position in shares of BorgWarner during the second quarter worth $444,000. Institutional investors and hedge funds own 91.06% of the company’s stock.
BorgWarner Inc. (BWA) traded up 0.54% during midday trading on Friday, hitting $46.66. 1,363,379 shares of the company were exchanged. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of 52.02 and a beta of 1.73. The stock has a 50 day moving average of $45.61 and a 200-day moving average of $42.74. BorgWarner Inc. has a 1-year low of $33.09 and a 1-year high of $48.03.
BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.07. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.27 billion. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. Equities analysts expect that BorgWarner Inc. will post $3.70 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.20%. BorgWarner’s payout ratio is 62.92%.
A number of brokerages have recently weighed in on BWA. Jefferies Group LLC restated a “buy” rating and issued a $50.00 target price on shares of BorgWarner in a research note on Wednesday, May 31st. Royal Bank Of Canada restated a “hold” rating and issued a $44.00 target price on shares of BorgWarner in a research note on Wednesday, July 12th. BidaskClub downgraded BorgWarner from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Robert W. Baird restated a “buy” rating and issued a $55.00 target price on shares of BorgWarner in a research note on Friday. Finally, ValuEngine downgraded BorgWarner from a “strong-buy” rating to a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $43.80.
In other news, insider Brady D. Ericson sold 11,052 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total transaction of $501,539.76. Following the sale, the insider now directly owns 23,418 shares in the company, valued at approximately $1,062,708.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis C. Cuneo sold 1,000 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $44.06, for a total transaction of $44,060.00. Following the sale, the director now owns 13,398 shares in the company, valued at $590,315.88. The disclosure for this sale can be found here. Insiders have sold a total of 15,052 shares of company stock worth $680,570 over the last 90 days. 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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