Goldman Sachs Group Inc. Acquires 1,297,584 Shares of BorgWarner Inc. (BWA)
Goldman Sachs Group Inc. boosted its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 108.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,496,736 shares of the auto parts company’s stock after buying an additional 1,297,584 shares during the quarter. Goldman Sachs Group Inc. owned about 1.18% of BorgWarner worth $105,762,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its position in shares of BorgWarner by 3,228.4% in the first quarter. BlackRock Inc. now owns 13,090,582 shares of the auto parts company’s stock worth $547,056,000 after buying an additional 12,697,279 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of BorgWarner by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 20,162,288 shares of the auto parts company’s stock valued at $842,583,000 after acquiring an additional 616,244 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of BorgWarner by 16.1% during the 2nd quarter. Victory Capital Management Inc. now owns 3,854,638 shares of the auto parts company’s stock valued at $163,282,000 after acquiring an additional 533,701 shares during the last quarter. Strs Ohio increased its holdings in shares of BorgWarner by 3,368.8% during the 2nd quarter. Strs Ohio now owns 548,001 shares of the auto parts company’s stock valued at $23,213,000 after acquiring an additional 532,203 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of BorgWarner by 24.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,565,948 shares of the auto parts company’s stock valued at $107,231,000 after acquiring an additional 496,065 shares during the last quarter. 91.09% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the company. Zacks Investment Research lowered BorgWarner from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Jefferies Group LLC reiterated a “buy” rating and set a $56.00 price target on shares of BorgWarner in a report on Tuesday, August 29th. Bank of America Corporation reissued an “underperform” rating and issued a $27.00 price target (down previously from $30.00) on shares of BorgWarner in a research report on Friday, June 16th. BMO Capital Markets reissued an “outperform” rating and issued a $55.00 price target (up previously from $50.00) on shares of BorgWarner in a research report on Friday, July 28th. Finally, ValuEngine lowered shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. 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 company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $44.20.
BorgWarner Inc. (BWA) traded up 0.73% during trading on Tuesday, reaching $52.23. The company’s stock had a trading volume of 509,042 shares. The firm’s 50-day moving average is $47.15 and its 200-day moving average is $43.68. The stock has a market cap of $11.02 billion, a P/E ratio of 58.23 and a beta of 1.75. BorgWarner Inc. has a 52-week low of $33.09 and a 52-week high of $52.71.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.27 billion. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. BorgWarner’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS. Equities research analysts forecast that BorgWarner Inc. will post $3.70 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.14 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.08%. BorgWarner’s dividend payout ratio (DPR) is currently 62.92%.
In other BorgWarner news, insider Brady D. Ericson sold 11,052 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total value of $501,539.76. Following the transaction, 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Tonit M. Calaway sold 3,000 shares of the firm’s 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 sale, the executive vice president now 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 corporate 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.
Want to see what other hedge funds are holding BWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BorgWarner Inc. (NYSE:BWA).
Receive News & Stock Ratings for BorgWarner Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BorgWarner Inc. and related stocks with our FREE daily email newsletter.