High Pointe Capital Management LLC lessened its stake in BorgWarner Inc. (NYSE:BWA) by 2.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,570 shares of the auto parts company’s stock after selling 360 shares during the period. High Pointe Capital Management LLC’s holdings in BorgWarner were worth $681,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in BWA. FMR LLC grew its position in BorgWarner by 147.9% in the 2nd quarter. FMR LLC now owns 15,661,666 shares of the auto parts company’s stock valued at $552,856,000 after buying an additional 9,344,587 shares in the last quarter. Ceredex Value Advisors LLC grew its position in BorgWarner by 62.7% in the 2nd quarter. Ceredex Value Advisors LLC now owns 4,620,897 shares of the auto parts company’s stock valued at $163,117,000 after buying an additional 1,781,561 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in BorgWarner by 33.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,572,986 shares of the auto parts company’s stock valued at $126,127,000 after acquiring an additional 896,406 shares during the last quarter. Jet Capital Investors L P lifted its holdings in BorgWarner by 966.6% in the 2nd quarter. Jet Capital Investors L P now owns 964,844 shares of the auto parts company’s stock valued at $34,059,000 after acquiring an additional 874,386 shares during the last quarter. Finally, Bardin Hill Management Partners LP acquired a new stake in BorgWarner in the 2nd quarter valued at about $28,994,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.
BWA has been the subject of a number of research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $36.00 price target on shares of BorgWarner in a report on Wednesday, November 4th. Citigroup upped their price target on shares of BorgWarner from $30.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Morgan Stanley downgraded shares of BorgWarner from an “equal weight” rating to an “underweight” rating and set a $27.00 price target for the company. in a report on Monday, November 9th. Zacks Investment Research raised shares of BorgWarner from a “hold” rating to a “strong-buy” rating and set a $47.00 price target for the company in a report on Tuesday, October 6th. Finally, Wolfe Research downgraded shares of BorgWarner from an “outperform” rating to a “peer perform” rating in a report on Thursday, November 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.40.
BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, October 29th. The auto parts company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.13. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.38 billion. BorgWarner had a net margin of 4.11% and a return on equity of 11.48%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. Sell-side analysts forecast that BorgWarner Inc. will post 2.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a $0.17 dividend. The ex-dividend date is Monday, November 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.81%. BorgWarner’s dividend payout ratio is currently 16.46%.
In related news, VP Craig Aaron sold 4,572 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $42.65, for a total value of $194,995.80. Following the transaction, the vice president now owns 10,971 shares in the company, valued at $467,913.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.51% of the company’s stock.
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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