Canada Pension Plan Investment Board reduced its stake in BorgWarner Inc. (NYSE:BWA) by 18.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,259 shares of the auto parts company’s stock after selling 43,900 shares during the quarter. Canada Pension Plan Investment Board owned about 0.09% of BorgWarner worth $8,225,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in BorgWarner in the 3rd quarter valued at about $146,000. 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 valued at $245,000 after acquiring an additional 1,415 shares during the period. CIBC World Markets Inc. bought a new position in BorgWarner in the 3rd quarter valued at about $255,000. 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 valued at $259,000 after acquiring an additional 4,417 shares during the period. Finally, Yorktown Management & Research Co Inc bought a new position in BorgWarner in the 2nd quarter valued at about $263,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:BWA opened at $35.74 on Friday. BorgWarner Inc. has a 12-month low of $35.56 and a 12-month high of $58.22. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 1.20 and a beta of 1.80. The company has a current ratio of 1.66, a quick ratio of 1.28 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 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.01. BorgWarner had a net margin of 5.26% and a return on equity of 22.68%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.45 billion. Equities analysts expect that BorgWarner Inc. will post 4.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.90%. BorgWarner’s payout ratio is presently 17.48%.
Several research firms have weighed in on BWA. Buckingham Research lowered their price target on shares of BorgWarner from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, October 3rd. Oppenheimer reissued a “buy” rating and issued a $51.00 price target on shares of BorgWarner in a report on Thursday, October 25th. Jefferies Financial Group assumed coverage on shares of BorgWarner in a report on Tuesday. They issued a “buy” rating and a $48.00 price target on the stock. Morgan Stanley decreased their target price on shares of BorgWarner from $61.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, November 14th. Finally, ValuEngine lowered shares of BorgWarner from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. BorgWarner currently has an average rating of “Buy” and a consensus target price of $53.79.
In other BorgWarner news, Director Thomas T. Stallkamp sold 7,692 shares of the stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $39.33, for a total transaction of $302,526.36. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $117,990. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Joel Wiegert sold 4,000 shares of the stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $39.57, for a total transaction of $158,280.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,475 shares of company stock worth $1,526,992. 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.
Further Reading: Depreciation
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