Boston Partners cut its stake in shares of BorgWarner Inc. (NYSE:BWA) by 42.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,692,545 shares of the auto parts company’s stock after selling 4,956,404 shares during the quarter. Boston Partners’ holdings in BorgWarner were worth $288,850,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in BWA. Amundi Pioneer Asset Management Inc. grew its holdings in shares of BorgWarner by 36.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,711,868 shares of the auto parts company’s stock valued at $85,988,000 after buying an additional 460,476 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in shares of BorgWarner by 51.4% during the first quarter. Great Lakes Advisors LLC now owns 1,149,390 shares of the auto parts company’s stock valued at $52,871,000 after buying an additional 390,000 shares during the last quarter. Millennium Management LLC grew its holdings in shares of BorgWarner by 278.1% during the first quarter. Millennium Management LLC now owns 511,227 shares of the auto parts company’s stock valued at $25,679,000 after buying an additional 376,030 shares during the last quarter. Shufro Rose & Co. LLC grew its holdings in shares of BorgWarner by 1,999.5% during the second quarter. Shufro Rose & Co. LLC now owns 316,715 shares of the auto parts company’s stock valued at $13,669,000 after buying an additional 301,630 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of BorgWarner by 36.3% during the second quarter. Wells Fargo & Company MN now owns 1,104,707 shares of the auto parts company’s stock valued at $47,679,000 after buying an additional 294,196 shares during the last quarter. 93.62% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:BWA opened at $45.00 on Friday. BorgWarner Inc. has a one year low of $42.06 and a one year high of $58.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.23 and a current ratio of 1.58. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 1.30 and a beta of 1.85.
BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, July 26th. The auto parts company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.10 by $0.08. BorgWarner had a net margin of 5.11% and a return on equity of 22.83%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period in the prior year, the company earned $0.96 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. sell-side analysts anticipate that BorgWarner Inc. will post 4.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Tuesday, September 4th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, August 31st. BorgWarner’s payout ratio is currently 17.48%.
In other news, EVP Tonit M. Calaway sold 4,590 shares of the stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $46.01, for a total transaction of $211,185.90. Following the sale, the executive vice president now directly owns 34,982 shares of the company’s stock, valued at approximately $1,609,521.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Thomas J. Mcgill sold 3,260 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $44.55, for a total transaction of $145,233.00. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Citigroup dropped their price objective on shares of BorgWarner from $59.00 to $52.00 and set a “neutral” rating on the stock in a report on Monday, July 30th. Oppenheimer dropped their price objective on shares of BorgWarner from $58.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, July 23rd. Cowen started coverage on shares of BorgWarner in a report on Monday, April 16th. They issued an “outperform” rating and a $60.00 price target on the stock. ValuEngine lowered shares of BorgWarner from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Finally, Zacks Investment Research lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a report on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $57.47.
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: Market Capitalization – What it Means for Investors
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