Jupiter Asset Management Ltd. grew its stake in shares of BorgWarner Inc. (NYSE:BWA) by 0.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 264,766 shares of the auto parts company’s stock after acquiring an additional 685 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in BorgWarner were worth $12,264,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC bought a new stake in shares of BorgWarner during the 4th quarter worth $26,000. Winslow Evans & Crocker Inc. lifted its position in shares of BorgWarner by 113.2% during the 4th quarter. Winslow Evans & Crocker Inc. now owns 757 shares of the auto parts company’s stock worth $29,000 after buying an additional 402 shares during the last quarter. Valley Brook Capital Group acquired a new stake in shares of BorgWarner in the fourth quarter valued at about $29,000. Ropes Wealth Advisors LLC acquired a new stake in shares of BorgWarner in the fourth quarter valued at about $33,000. Finally, Cranbrook Wealth Management LLC acquired a new stake in shares of BorgWarner in the first quarter valued at about $39,000. Hedge funds and other institutional investors own 92.83% of the company’s stock.
In other BorgWarner news, CEO Frederic Lissalde sold 40,000 shares of BorgWarner stock in a transaction dated Friday, May 7th. The stock was sold at an average price of $52.59, for a total transaction of $2,103,600.00. Following the completion of the sale, the chief executive officer now owns 228,784 shares of the company’s stock, valued at $12,031,750.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Paul Arthur Farrell sold 7,241 shares of the business’s stock in a transaction dated Friday, May 7th. The shares were sold at an average price of $52.51, for a total value of $380,224.91. Following the completion of the sale, the vice president now directly owns 22,352 shares of the company’s stock, valued at approximately $1,173,703.52. The disclosure for this sale can be found here. Insiders have sold 111,362 shares of company stock valued at $5,796,851 in the last three months. 0.36% of the stock is owned by corporate insiders.
BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Tuesday, May 4th. The auto parts company reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.29. The company had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.57 billion. BorgWarner had a return on equity of 12.53% and a net margin of 3.67%. The firm’s quarterly revenue was up 75.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. Analysts forecast that BorgWarner Inc. will post 4.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.30%. The ex-dividend date is Friday, May 28th. BorgWarner’s dividend payout ratio is 24.64%.
Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their price target on BorgWarner from $45.00 to $40.00 and set a “hold” rating for the company in a research note on Thursday, March 25th. Morgan Stanley increased their price target on BorgWarner from $29.00 to $31.00 and gave the company an “underweight” rating in a research note on Thursday, May 13th. Credit Suisse Group increased their price target on BorgWarner from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, February 16th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $58.00 target price on shares of BorgWarner in a research note on Wednesday, March 24th. Finally, KeyCorp raised their target price on BorgWarner from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. BorgWarner has an average rating of “Buy” and an average price target of $49.13.
BorgWarner Company Profile
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. The company's Engine segment offers turbocharger and turbocharger actuators; eBoosters; and timing systems products, including timing chains, variable cam timing, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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