Waratah Capital Advisors Ltd. purchased a new position in BorgWarner Inc. (NYSE:BWA) during the first quarter, Holdings Channel reports. The fund purchased 18,072 shares of the auto parts company’s stock, valued at approximately $755,000.
Several other institutional investors have also recently added to or reduced their stakes in BWA. Boston Partners boosted its position in BorgWarner by 3.9% in the first quarter. Boston Partners now owns 10,581,160 shares of the auto parts company’s stock worth $442,187,000 after buying an additional 397,426 shares in the last quarter. State Street Corp boosted its position in BorgWarner by 1.0% in the fourth quarter. State Street Corp now owns 9,928,092 shares of the auto parts company’s stock worth $391,566,000 after buying an additional 95,047 shares in the last quarter. JPMorgan Chase & Co. boosted its position in BorgWarner by 1.4% in the first quarter. JPMorgan Chase & Co. now owns 5,408,179 shares of the auto parts company’s stock worth $226,008,000 after buying an additional 76,928 shares in the last quarter. Victory Capital Management Inc. boosted its position in BorgWarner by 10.3% in the first quarter. Victory Capital Management Inc. now owns 3,320,937 shares of the auto parts company’s stock worth $138,782,000 after buying an additional 309,065 shares in the last quarter. Finally, Pioneer Investment Management Inc. boosted its position in BorgWarner by 56.7% in the first quarter. Pioneer Investment Management Inc. now owns 3,288,289 shares of the auto parts company’s stock worth $137,417,000 after buying an additional 1,190,369 shares in the last quarter. 93.37% of the stock is owned by hedge funds and other institutional investors.
BorgWarner Inc. (NYSE BWA) traded up 0.23% during midday trading on Tuesday, hitting $43.76. 583,973 shares of the stock traded hands. BorgWarner Inc. has a 12-month low of $27.52 and a 12-month high of $45.05. The company’s 50-day moving average is $41.92 and its 200 day moving average is $40.82. The firm has a market cap of $9.29 billion, a P/E ratio of 65.12 and a beta of 1.62.
BorgWarner (NYSE:BWA) last announced its earnings results on Thursday, April 27th. The auto parts company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.07. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.26 billion. BorgWarner had a net margin of 1.56% and a return on equity of 20.10%. BorgWarner’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 earnings per share. On average, analysts anticipate that BorgWarner Inc. will post $3.56 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.28%. BorgWarner’s dividend payout ratio is presently 86.16%.
A number of equities analysts recently commented on BWA shares. Morgan Stanley dropped their price target on shares of BorgWarner from $34.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday. Zacks Investment Research raised shares of BorgWarner from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Wednesday, June 7th. Jefferies Group LLC set a $48.00 price target on shares of BorgWarner and gave the stock a “buy” rating in a research note on Thursday, April 6th. BMO Capital Markets lifted their price target on shares of BorgWarner from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, May 1st. Finally, ValuEngine cut shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $40.77.
In other news, insider Ronald T. Hundzinski sold 3,776 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $41.53, for a total transaction of $156,817.28. Following the sale, the insider now owns 141,958 shares of the company’s stock, valued at $5,895,515.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.
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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