BorgWarner Inc. (BWA) Shares Bought by Advisor Group Inc.
Advisor Group Inc. grew its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 8.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,122 shares of the auto parts company’s stock after buying an additional 1,238 shares during the period. Advisor Group Inc.’s holdings in BorgWarner were worth $637,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc increased its stake in shares of BorgWarner by 0.3% during the second quarter. CIBC Asset Management Inc now owns 19,211 shares of the auto parts company’s stock valued at $814,000 after buying an additional 61 shares during the period. Hanson & Doremus Investment Management increased its stake in shares of BorgWarner by 0.9% during the second quarter. Hanson & Doremus Investment Management now owns 8,895 shares of the auto parts company’s stock valued at $377,000 after buying an additional 75 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of BorgWarner by 0.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,846 shares of the auto parts company’s stock valued at $788,000 after buying an additional 77 shares during the period. Contravisory Investment Management Inc. increased its stake in shares of BorgWarner by 1.3% during the second quarter. Contravisory Investment Management Inc. now owns 6,356 shares of the auto parts company’s stock valued at $269,000 after buying an additional 79 shares during the period. Finally, Cutter & CO Brokerage Inc. increased its stake in shares of BorgWarner by 1.7% during the second quarter. Cutter & CO Brokerage Inc. now owns 5,270 shares of the auto parts company’s stock valued at $223,000 after buying an additional 90 shares during the period. 91.09% of the stock is currently owned by hedge funds and other institutional investors.
BWA has been the topic of several research analyst reports. Zacks Investment Research cut BorgWarner from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Jefferies Group LLC reissued a “buy” rating and set a $56.00 target price on shares of BorgWarner in a research note on Tuesday, August 29th. BMO Capital Markets reissued an “outperform” rating and set a $55.00 target price (up from $50.00) on shares of BorgWarner in a research note on Friday, July 28th. Bank of America Corporation reissued an “underperform” rating and set a $27.00 target price (down from $30.00) on shares of BorgWarner in a research note on Friday, June 16th. Finally, ValuEngine cut BorgWarner from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Three 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. The company presently has an average rating of “Hold” and an average price target of $44.20.
Shares of BorgWarner Inc. (NYSE:BWA) opened at 52.45 on Thursday. BorgWarner Inc. has a 12-month low of $33.09 and a 12-month high of $52.71. The firm has a 50-day moving average price of $47.55 and a 200 day moving average price of $43.80. The company has a market capitalization of $11.07 billion, a P/E ratio of 58.47 and a beta of 1.76.
BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.07. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the business posted $0.84 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts predict that BorgWarner Inc. will post $3.70 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.14 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.07%. BorgWarner’s dividend payout ratio is presently 62.92%.
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In other news, insider Brady D. Ericson sold 11,052 shares of BorgWarner stock in a transaction on Wednesday, August 16th. The stock was 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 in the company, valued at approximately $1,062,708.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tonit M. Calaway sold 3,000 shares of BorgWarner stock in a transaction on 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 transaction, the executive vice president now owns 34,120 shares in the company, valued at $1,535,058.80. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
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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