BorgWarner Inc. (BWA) Holdings Boosted by HighTower Advisors LLC
HighTower Advisors LLC raised its holdings in BorgWarner Inc. (NYSE:BWA) by 19.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,348 shares of the auto parts company’s stock after purchasing an additional 5,038 shares during the period. HighTower Advisors LLC’s holdings in BorgWarner were worth $1,328,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of BorgWarner by 6.8% during the 1st quarter. Van ECK Associates Corp now owns 2,702 shares of the auto parts company’s stock valued at $113,000 after acquiring an additional 171 shares in the last quarter. CENTRAL TRUST Co raised its position in shares of BorgWarner by 5.3% during the 2nd quarter. CENTRAL TRUST Co now owns 2,679 shares of the auto parts company’s stock valued at $114,000 after acquiring an additional 135 shares in the last quarter. SRS Capital Advisors Inc. raised its position in shares of BorgWarner by 13.7% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,929 shares of the auto parts company’s stock valued at $122,000 after acquiring an additional 354 shares in the last quarter. Exane Derivatives acquired a new stake in shares of BorgWarner during the 2nd quarter valued at approximately $135,000. Finally, Global X Management Co. LLC raised its position in shares of BorgWarner by 29.9% during 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 acquiring an additional 851 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on BWA shares. BidaskClub lowered BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Jefferies Group LLC restated a “buy” rating and set a $48.00 price objective on shares of BorgWarner in a research note on Tuesday, July 4th. Deutsche Bank AG upped their price objective on BorgWarner from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research upgraded BorgWarner from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, August 22nd. Finally, Robert W. Baird reissued a “buy” rating and issued a $55.00 price target on shares of BorgWarner in a research note on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $44.86.
In other news, insider Brady D. Ericson sold 11,052 shares of the company’s stock in a transaction that occurred 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 owns 23,418 shares of the company’s stock, valued at $1,062,708.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tonit M. Calaway sold 3,000 shares of the company’s stock in a transaction that occurred 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 directly owns 34,120 shares in the company, valued at approximately $1,535,058.80. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.
Shares of BorgWarner Inc. (NYSE:BWA) opened at 51.99 on Wednesday. BorgWarner Inc. has a 12-month low of $33.09 and a 12-month high of $52.71. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 57.96 and a beta of 1.76. The firm has a 50-day moving average price of $48.37 and a 200-day moving average price of $44.13.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, July 27th. The auto parts company reported $0.96 EPS for the quarter, beating the 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 company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts anticipate that BorgWarner Inc. will post $3.70 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Wednesday, August 30th. BorgWarner’s payout ratio is 62.92%.
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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