Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of BorgWarner Inc. (NYSE:BWA) by 63.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 160,862 shares of the auto parts company’s stock after selling 279,145 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of BorgWarner worth $6,882,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in BWA. BlackRock Inc. grew its position in shares of BorgWarner by 14.5% during the 2nd quarter. BlackRock Inc. now owns 19,874,263 shares of the auto parts company’s stock valued at $857,773,000 after acquiring an additional 2,517,481 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of BorgWarner by 3.0% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 8,380,386 shares of the auto parts company’s stock valued at $361,697,000 after acquiring an additional 241,769 shares during the period. JPMorgan Chase & Co. grew its position in shares of BorgWarner by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,635,725 shares of the auto parts company’s stock valued at $283,875,000 after acquiring an additional 1,661,618 shares during the period. LSV Asset Management grew its position in shares of BorgWarner by 7.4% during the 3rd quarter. LSV Asset Management now owns 4,753,551 shares of the auto parts company’s stock valued at $203,356,000 after acquiring an additional 327,098 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of BorgWarner by 5.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,061,964 shares of the auto parts company’s stock valued at $173,771,000 after acquiring an additional 219,432 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.
In related news, Director Thomas T. Stallkamp sold 7,692 shares of the company’s stock in a transaction 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 approximately $117,990. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexis P. Michas sold 10,003 shares of the company’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $39.99, for a total transaction of $400,019.97. Following the completion of the transaction, the director now directly owns 78,223 shares of the company’s stock, valued at approximately $3,128,137.77. The disclosure for this sale can be found here. Insiders sold a total of 38,475 shares of company stock valued at $1,526,992 in the last ninety days. 0.74% of the stock is currently owned by insiders.
A number of brokerages have recently issued reports on BWA. Buckingham Research cut their price objective on shares of BorgWarner from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Wednesday, October 3rd. Oppenheimer reissued a “buy” rating and set a $51.00 price objective on shares of BorgWarner in a research report on Thursday, October 25th. Jefferies Financial Group began coverage on shares of BorgWarner in a research report on Tuesday. They set a “buy” rating and a $48.00 price objective for the company. Morgan Stanley cut their price objective on shares of BorgWarner from $61.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, November 14th. Finally, ValuEngine downgraded shares of BorgWarner from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $53.79.
Shares of BorgWarner stock opened at $35.74 on Friday. The firm has a market capitalization of $7.76 billion, a P/E ratio of 8.57, a PEG ratio of 1.19 and a beta of 1.80. 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 Inc. has a fifty-two week low of $35.56 and a fifty-two week high of $58.22.
BorgWarner (NYSE:BWA) last issued its earnings results on Thursday, October 25th. The auto parts company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.01. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.45 billion. BorgWarner had a net margin of 5.26% and a return on equity of 22.68%. On average, sell-side analysts forecast that BorgWarner Inc. will post 4.37 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.90%. The ex-dividend date is Friday, November 30th. BorgWarner’s dividend payout ratio is currently 17.48%.
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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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