Baird Financial Group Inc. reduced its position in shares of BorgWarner Inc. (NYSE:BWA) by 30.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 84,630 shares of the auto parts company’s stock after selling 36,792 shares during the period. Baird Financial Group Inc.’s holdings in BorgWarner were worth $3,653,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in BWA. Oregon Public Employees Retirement Fund raised its stake in shares of BorgWarner by 52.1% in the second quarter. Oregon Public Employees Retirement Fund now owns 114,947 shares of the auto parts company’s stock worth $4,961,000 after acquiring an additional 39,353 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of BorgWarner by 64.7% in the second quarter. Renaissance Technologies LLC now owns 1,237,265 shares of the auto parts company’s stock worth $53,400,000 after acquiring an additional 486,165 shares during the last quarter. Bridgewater Associates LP bought a new position in shares of BorgWarner in the second quarter worth about $1,228,000. BlueMountain Capital Management LLC raised its stake in shares of BorgWarner by 13,635.7% in the second quarter. BlueMountain Capital Management LLC now owns 33,103 shares of the auto parts company’s stock worth $1,429,000 after acquiring an additional 32,862 shares during the last quarter. Finally, Advisors Capital Management LLC raised its stake in shares of BorgWarner by 2.7% in the second quarter. Advisors Capital Management LLC now owns 59,842 shares of the auto parts company’s stock worth $2,583,000 after acquiring an additional 1,580 shares during the last quarter. 91.65% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on BWA shares. ValuEngine downgraded shares of BorgWarner from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Oppenheimer dropped their target price on shares of BorgWarner from $58.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, July 23rd. Goldman Sachs Group raised shares of BorgWarner from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $56.00 to $58.00 in a research note on Monday, June 25th. Citigroup dropped their target price on shares of BorgWarner from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, July 30th. Finally, Wells Fargo & Co raised shares of BorgWarner from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $57.00 to $56.00 in a research note on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $57.73.
Shares of NYSE:BWA opened at $44.33 on Friday. BorgWarner Inc. has a one year low of $42.06 and a one year high of $58.22. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.52. The company has a market cap of $9.03 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 1.20 and a beta of 1.88.
BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, July 26th. The auto parts company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.10 by $0.08. BorgWarner had a net margin of 5.11% and a return on equity of 22.83%. The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the company earned $0.96 EPS. BorgWarner’s revenue was up 12.7% on a year-over-year basis. equities research analysts forecast that BorgWarner Inc. will post 4.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Tuesday, September 4th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, August 31st. BorgWarner’s dividend payout ratio is 17.48%.
In other news, VP Thomas J. Mcgill sold 3,260 shares of BorgWarner stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $44.55, for a total transaction of $145,233.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tonit M. Calaway sold 4,590 shares of BorgWarner stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $46.01, for a total transaction of $211,185.90. Following the sale, the executive vice president now owns 34,982 shares of the company’s stock, valued at approximately $1,609,521.82. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates through two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; and timing systems, such as timing chains, variable cam timing products, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains for light vehicles, and hybrid power transmission chains.
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