American International Group Inc. grew its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 7.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,678 shares of the auto parts company’s stock after acquiring an additional 7,081 shares during the period. American International Group Inc. owned about 0.05% of BorgWarner worth $4,478,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. grew its stake in shares of BorgWarner by 0.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 214,649 shares of the auto parts company’s stock valued at $9,263,000 after acquiring an additional 1,201 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of BorgWarner by 0.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 323,031 shares of the auto parts company’s stock valued at $13,942,000 after acquiring an additional 1,218 shares in the last quarter. Securian Asset Management Inc grew its stake in shares of BorgWarner by 7.1% during the third quarter. Securian Asset Management Inc now owns 21,316 shares of the auto parts company’s stock valued at $912,000 after acquiring an additional 1,407 shares in the last quarter. BB&T Securities LLC grew its stake in shares of BorgWarner by 33.2% during the second 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 in the last quarter. Finally, Providence Capital Advisors LLC grew its stake in shares of BorgWarner by 6.6% during the second quarter. Providence Capital Advisors LLC now owns 23,190 shares of the auto parts company’s stock valued at $1,001,000 after acquiring an additional 1,433 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.
NYSE:BWA opened at $35.74 on Friday. The stock has a market capitalization of $7.84 billion, a P/E ratio of 9.19, a PEG ratio of 1.20 and a beta of 1.80. BorgWarner Inc. has a one year low of $35.56 and a one year high of $58.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.66 and a quick ratio of 1.28.
BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, October 25th. The auto parts company reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.01. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.45 billion. BorgWarner had a return on equity of 22.68% and a net margin of 5.26%. On average, analysts predict that BorgWarner Inc. will post 4.37 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.90%. BorgWarner’s payout ratio is currently 17.48%.
In other BorgWarner news, Director Alexis P. Michas sold 10,003 shares of BorgWarner stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $39.99, for a total value of $400,019.97. Following the completion of the transaction, the director now directly owns 78,223 shares in the company, valued at $3,128,137.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas T. Stallkamp sold 7,692 shares of BorgWarner stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $39.33, for a total value of $302,526.36. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at $117,990. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,475 shares of company stock valued at $1,526,992. 0.74% of the stock is currently owned by insiders.
BWA has been the subject of several recent analyst reports. Royal Bank of Canada lowered their target price on BorgWarner to $49.00 and set a “positive” rating for the company in a research note on Wednesday, September 19th. ValuEngine downgraded BorgWarner from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 1st. Oppenheimer reiterated a “buy” rating and issued a $51.00 price target on shares of BorgWarner in a research note on Thursday, October 25th. Buckingham Research decreased their price target on BorgWarner from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Wednesday, October 3rd. Finally, Citigroup decreased their price target on BorgWarner from $52.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. BorgWarner presently has an average rating of “Buy” and an average target price of $53.79.
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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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