Comerica Bank lessened its stake in BorgWarner Inc. (NYSE:BWA) by 19.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,871 shares of the auto parts company’s stock after selling 10,683 shares during the quarter. Comerica Bank’s holdings in BorgWarner were worth $1,610,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. BB&T Securities LLC raised its holdings in BorgWarner by 33.2% in the 2nd quarter. BB&T Securities LLC now owns 5,681 shares of the auto parts company’s stock worth $245,000 after purchasing an additional 1,415 shares during the period. Tower Research Capital LLC TRC raised its holdings in BorgWarner by 277.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,007 shares of the auto parts company’s stock worth $259,000 after purchasing an additional 4,417 shares during the period. Yorktown Management & Research Co Inc acquired a new position in BorgWarner in the 2nd quarter worth about $263,000. Financial Counselors Inc. acquired a new position in BorgWarner in the 2nd quarter worth about $293,000. Finally, Perigon Wealth Management LLC raised its holdings in BorgWarner by 3,640.7% in the 2nd quarter. Perigon Wealth Management LLC now owns 6,808 shares of the auto parts company’s stock worth $294,000 after purchasing an additional 6,626 shares during the period. 93.35% of the stock is owned by institutional investors and hedge funds.
Shares of BorgWarner stock opened at $39.58 on Monday. BorgWarner Inc. has a 12 month low of $35.71 and a 12 month high of $58.22. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.34 and a beta of 1.81. The company has a quick ratio of 1.28, a current ratio of 1.66 and a debt-to-equity ratio of 0.50.
BorgWarner (NYSE:BWA) last announced its earnings results on Thursday, October 25th. The auto parts company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. BorgWarner had a return on equity of 22.68% and a net margin of 5.26%. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.45 billion. As a group, equities research analysts anticipate that BorgWarner Inc. will post 4.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be given a $0.17 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.72%. BorgWarner’s dividend payout ratio (DPR) is presently 17.48%.
A number of research firms recently weighed in on BWA. Wolfe Research began coverage on BorgWarner in a report on Tuesday, October 2nd. They issued an “outperform” rating for the company. ValuEngine cut BorgWarner from a “sell” rating to a “strong sell” rating in a report on Saturday, September 1st. BMO Capital Markets set a $60.00 price target on BorgWarner and gave the stock a “buy” rating in a report on Thursday, September 20th. Royal Bank of Canada reduced their price target on BorgWarner to $49.00 and set a “positive” rating for the company in a report on Wednesday, September 19th. Finally, Bank of America raised BorgWarner from an “underperform” rating to a “neutral” rating and set a $45.00 target price for the company in a report on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. BorgWarner has a consensus rating of “Buy” and a consensus target price of $54.23.
In other news, Director Thomas T. Stallkamp sold 7,692 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $39.33, for a total value of $302,526.36. Following the completion of the sale, the director now directly owns 3,000 shares in the company, valued at $117,990. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joel Wiegert sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $39.57, for a total value of $158,280.00. The disclosure for this sale can be found here. Insiders sold 38,475 shares of company stock valued at $1,526,992 over the last 90 days. Company insiders own 0.74% of the company’s stock.
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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