United Capital Financial Advisers LLC cut its stake in shares of BorgWarner Inc. (NYSE:BWA) by 61.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 47,057 shares of the auto parts company’s stock after selling 76,507 shares during the quarter. United Capital Financial Advisers LLC’s holdings in BorgWarner were worth $1,975,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the business. Scotia Capital Inc. acquired a new stake in shares of BorgWarner in the second quarter valued at approximately $1,035,000. Los Angeles Capital Management & Equity Research Inc. raised its position in BorgWarner by 855.6% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 52,616 shares of the auto parts company’s stock valued at $2,209,000 after purchasing an additional 47,110 shares in the last quarter. Horizon Investments LLC acquired a new position in BorgWarner during the first quarter valued at approximately $222,000. Skandinaviska Enskilda Banken AB publ raised its position in BorgWarner by 2.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 29,955 shares of the auto parts company’s stock valued at $1,258,000 after purchasing an additional 836 shares in the last quarter. Finally, Natixis Advisors L.P. raised its position in BorgWarner by 16.6% during the second quarter. Natixis Advisors L.P. now owns 89,475 shares of the auto parts company’s stock valued at $3,756,000 after purchasing an additional 12,737 shares in the last quarter. Hedge funds and other institutional investors own 90.97% of the company’s stock.
Several research analysts have commented on BWA shares. Barclays restated a “buy” rating and set a $44.00 price objective on shares of BorgWarner in a research report on Thursday, July 18th. ValuEngine upgraded shares of BorgWarner from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 14th. TheStreet downgraded shares of BorgWarner from a “b-” rating to a “c+” rating in a research report on Thursday, August 22nd. Nomura started coverage on shares of BorgWarner in a research report on Tuesday, August 27th. They set a “buy” rating and a $41.00 price objective for the company. Finally, Morgan Stanley set a $47.00 price objective on shares of BorgWarner and gave the company a “buy” rating in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $46.50.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, July 25th. The auto parts company reported $1.00 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.00. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.52 billion. BorgWarner had a net margin of 7.53% and a return on equity of 20.13%. The company’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 earnings per share. On average, equities research analysts anticipate that BorgWarner Inc. will post 3.88 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.17 per share. The ex-dividend date was Friday, August 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.81%. BorgWarner’s payout ratio is presently 15.18%.
BorgWarner Company Profile
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; 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.
Featured Story: How to Trade Using Analysts Ratings
Want to see what other hedge funds are holding BWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BorgWarner Inc. (NYSE:BWA).
Receive News & Ratings for BorgWarner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BorgWarner and related companies with MarketBeat.com's FREE daily email newsletter.