CIBC World Markets Inc. Reduces Position in BorgWarner Inc. (BWA)
CIBC World Markets Inc. lessened its stake in BorgWarner Inc. (NYSE:BWA) by 6.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 13,981 shares of the auto parts company’s stock after selling 985 shares during the period. CIBC World Markets Inc.’s holdings in BorgWarner were worth $592,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of BWA. Van ECK Associates Corp increased its holdings in BorgWarner by 6.8% in the 1st quarter. Van ECK Associates Corp now owns 2,702 shares of the auto parts company’s stock valued at $113,000 after purchasing an additional 171 shares during the last quarter. CENTRAL TRUST Co increased its holdings in BorgWarner by 5.3% in the 2nd quarter. CENTRAL TRUST Co now owns 2,679 shares of the auto parts company’s stock valued at $114,000 after purchasing an additional 135 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in BorgWarner by 13.7% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,929 shares of the auto parts company’s stock valued at $122,000 after purchasing an additional 354 shares during the last quarter. Exane Derivatives acquired a new stake in BorgWarner in the 2nd quarter valued at approximately $135,000. Finally, Global X Management Co. LLC increased its holdings in BorgWarner by 29.9% in the 1st quarter. Global X Management Co. LLC now owns 3,694 shares of the auto parts company’s stock valued at $154,000 after purchasing an additional 851 shares during the last quarter. Hedge funds and other institutional investors own 91.09% of the company’s stock.
BorgWarner Inc. (BWA) opened at 49.17 on Tuesday. BorgWarner Inc. has a 52 week low of $33.09 and a 52 week high of $49.20. The firm has a market cap of $10.38 billion, a P/E ratio of 54.82 and a beta of 1.73. The company’s 50 day moving average is $45.94 and its 200-day moving average is $43.11.
BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.07. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.27 billion. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business 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 declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, August 30th. BorgWarner’s payout ratio is 62.92%.
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Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of BorgWarner from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Thursday, September 14th. 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 note on Friday, July 28th. Barclays PLC set a $46.00 price target on shares of BorgWarner and gave the stock a “hold” rating in a research note on Sunday, August 6th. ValuEngine downgraded shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Deutsche Bank AG boosted their price target on shares of BorgWarner from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. BorgWarner has an average rating of “Hold” and a consensus target price of $44.00.
In related 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 completion of the sale, the insider now directly owns 23,418 shares of the company’s stock, valued at approximately $1,062,708.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Tonit M. Calaway sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $44.99, for a total transaction of $134,970.00. Following the sale, the executive vice president now directly owns 34,120 shares of the company’s stock, valued at $1,535,058.80. The disclosure for this sale can be found here. 0.66% of the stock is currently 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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