Lumbard & Kellner LLC Trims Stake in BorgWarner Inc. (BWA)
Lumbard & Kellner LLC trimmed its position in shares of BorgWarner Inc. (NYSE:BWA) by 0.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,940 shares of the auto parts company’s stock after selling 5 shares during the quarter. BorgWarner makes up about 1.5% of Lumbard & Kellner LLC’s investment portfolio, making the stock its 28th largest holding. Lumbard & Kellner LLC’s holdings in BorgWarner were worth $2,539,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of BorgWarner by 9.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,371 shares of the auto parts company’s stock valued at $228,000 after acquiring an additional 448 shares in the last quarter. Kiltearn Partners LLP raised its stake in shares of BorgWarner by 0.9% in the 2nd quarter. Kiltearn Partners LLP now owns 3,152,452 shares of the auto parts company’s stock valued at $133,538,000 after acquiring an additional 28,300 shares in the last quarter. South Dakota Investment Council raised its stake in shares of BorgWarner by 2.8% in the 2nd quarter. South Dakota Investment Council now owns 85,100 shares of the auto parts company’s stock valued at $3,605,000 after acquiring an additional 2,300 shares in the last quarter. Eaton Vance Management raised its stake in shares of BorgWarner by 3.8% in the 2nd quarter. Eaton Vance Management now owns 21,754 shares of the auto parts company’s stock valued at $921,000 after acquiring an additional 800 shares in the last quarter. Finally, Commonwealth Bank of Australia raised its stake in shares of BorgWarner by 4.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 26,586 shares of the auto parts company’s stock valued at $1,125,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 91.11% of the company’s stock.
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In other news, insider Brady D. Ericson sold 11,052 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $45.38, for a total transaction of $501,539.76. Following the transaction, the insider now owns 23,418 shares in the company, valued at $1,062,708.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dennis C. Cuneo sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was 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 in the company, valued at approximately $590,315.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,052 shares of company stock worth $680,570. 0.66% of the stock is owned by corporate insiders.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised BorgWarner from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Wednesday, May 31st. Deutsche Bank AG raised their price objective on BorgWarner from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. CLSA assumed coverage on BorgWarner in a research note on Thursday, June 22nd. They issued a “hold” rating and a $45.00 price objective on the stock. Royal Bank Of Canada reissued a “hold” rating and issued a $44.00 price objective on shares of BorgWarner in a research note on Wednesday, July 12th. Finally, BidaskClub downgraded BorgWarner from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $43.93.
BorgWarner Inc. (NYSE:BWA) traded up 0.91% during mid-day trading on Monday, hitting $46.62. The stock had a trading volume of 254,117 shares. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 51.97 and a beta of 1.73. BorgWarner Inc. has a one year low of $33.09 and a one year high of $48.03. The stock’s 50 day moving average price is $45.58 and its 200 day moving average price is $42.87.
BorgWarner (NYSE:BWA) last announced 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. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.27 billion. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. Analysts forecast that BorgWarner Inc. will post $3.70 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.21%. BorgWarner’s dividend payout ratio (DPR) is currently 62.92%.
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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