Advisors Asset Management Inc. Boosts Stake in BorgWarner Inc. (NYSE:BWA)

Advisors Asset Management Inc. raised its position in BorgWarner Inc. (NYSE:BWA) by 61.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,681 shares of the auto parts company’s stock after purchasing an additional 6,373 shares during the period. Advisors Asset Management Inc.’s holdings in BorgWarner were worth $605,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BWA. Point72 Asset Management L.P. boosted its position in BorgWarner by 361.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,450,696 shares of the auto parts company’s stock valued at $79,010,000 after buying an additional 1,919,219 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in BorgWarner by 23.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,628,733 shares of the auto parts company’s stock valued at $278,190,000 after buying an additional 1,640,503 shares during the last quarter. Earnest Partners LLC boosted its position in BorgWarner by 20.2% in the 2nd quarter. Earnest Partners LLC now owns 3,979,776 shares of the auto parts company’s stock valued at $128,308,000 after buying an additional 669,137 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of BorgWarner by 86.0% during the second quarter. Hsbc Holdings PLC now owns 1,410,411 shares of the auto parts company’s stock worth $45,576,000 after purchasing an additional 652,097 shares during the last quarter. Finally, Swedbank AB lifted its position in shares of BorgWarner by 236.5% during the third quarter. Swedbank AB now owns 844,112 shares of the auto parts company’s stock worth $30,633,000 after purchasing an additional 593,265 shares during the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BWA. Robert W. Baird increased their price target on shares of BorgWarner from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. The Goldman Sachs Group reduced their price target on shares of BorgWarner from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft increased their price target on shares of BorgWarner from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. reduced their price target on shares of BorgWarner from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Finally, Wells Fargo & Company reduced their price target on shares of BorgWarner from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, BorgWarner presently has an average rating of “Moderate Buy” and a consensus target price of $41.21.

Insider Activity

In related news, CEO Frederic Lissalde sold 154,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $34.61, for a total transaction of $5,329,940.00. Following the completion of the sale, the chief executive officer now directly owns 259,957 shares in the company, valued at approximately $8,997,111.77. This trade represents a 37.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Isabelle Mckenzie sold 5,700 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.62, for a total transaction of $197,334.00. Following the sale, the vice president now owns 37,640 shares of the company’s stock, valued at $1,303,096.80. The trade was a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 201,466 shares of company stock worth $6,973,828 over the last three months. Corporate insiders own 0.63% of the company’s stock.

BorgWarner Price Performance

Shares of NYSE:BWA opened at $34.27 on Thursday. The firm’s 50 day moving average is $34.52 and its two-hundred day moving average is $33.84. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $38.22. The firm has a market capitalization of $7.49 billion, a P/E ratio of 8.74, a PEG ratio of 0.78 and a beta of 1.20. The company has a current ratio of 1.84, a quick ratio of 1.48 and a debt-to-equity ratio of 0.66.

BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.92 by $0.17. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the business earned $0.98 earnings per share. BorgWarner’s revenue was down 4.8% compared to the same quarter last year. Analysts anticipate that BorgWarner Inc. will post 4.22 earnings per share for the current year.

BorgWarner Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Monday, December 2nd. BorgWarner’s dividend payout ratio (DPR) is presently 11.17%.

About BorgWarner

BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.