KBC Group NV Purchases 61,119 Shares of BorgWarner Inc. (BWA)
KBC Group NV grew its stake in BorgWarner Inc. (NYSE:BWA) by 211.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,981 shares of the auto parts company’s stock after purchasing an additional 61,119 shares during the quarter. KBC Group NV’s holdings in BorgWarner were worth $4,610,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of BWA. Louisiana State Employees Retirement System increased its position in BorgWarner by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the auto parts company’s stock worth $525,000 after buying an additional 100 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in BorgWarner in the second quarter worth $718,000. NGAM Advisors L.P. increased its position in BorgWarner by 0.5% in the second quarter. NGAM Advisors L.P. now owns 85,627 shares of the auto parts company’s stock worth $3,628,000 after buying an additional 428 shares during the last quarter. Janney Montgomery Scott LLC increased its position in BorgWarner by 57.3% in the second quarter. Janney Montgomery Scott LLC now owns 32,369 shares of the auto parts company’s stock worth $1,371,000 after buying an additional 11,796 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in BorgWarner by 0.3% in the second quarter. CIBC Asset Management Inc now owns 19,211 shares of the auto parts company’s stock worth $814,000 after buying an additional 61 shares during the last quarter. Institutional investors own 94.67% of the company’s stock.
Several research firms recently commented on BWA. Oppenheimer began coverage on BorgWarner in a research report on Thursday. They set an “outperform” rating and a $63.00 target price for the company. BMO Capital Markets lifted their price target on BorgWarner from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, October 30th. Citigroup lifted their price target on BorgWarner from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Barclays set a $50.00 target price on BorgWarner and gave the company a “hold” rating in a research note on Friday, October 20th. Finally, Buckingham Research boosted their price target on BorgWarner from $37.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $49.67.
BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.07. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.26 billion. BorgWarner had a return on equity of 21.48% and a net margin of 3.09%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 EPS. analysts forecast that BorgWarner Inc. will post 3.82 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.17 dividend. The ex-dividend date is Thursday, November 30th. This is a boost from BorgWarner’s previous quarterly dividend of $0.14. This represents a $0.68 annualized dividend and a yield of 1.28%. BorgWarner’s dividend payout ratio is 49.28%.
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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