Nomura Asset Management Co. Ltd. cut its stake in BorgWarner Inc. (NYSE:BWA) by 3.8% during the fourth quarter, Holdings Channel reports. The firm owned 34,122 shares of the auto parts company’s stock after selling 1,336 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in BorgWarner were worth $1,185,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of BWA. Capital International Investors bought a new position in shares of BorgWarner in the third quarter worth about $192,510,000. Oregon Public Employees Retirement Fund grew its holdings in BorgWarner by 3,261.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,895,153 shares of the auto parts company’s stock worth $112,000 after acquiring an additional 3,779,264 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in BorgWarner by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,635,725 shares of the auto parts company’s stock worth $283,875,000 after acquiring an additional 1,661,618 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in BorgWarner by 1,701.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,315,009 shares of the auto parts company’s stock worth $56,256,000 after acquiring an additional 1,242,029 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in BorgWarner by 93.0% during the 3rd quarter. Schroder Investment Management Group now owns 2,197,292 shares of the auto parts company’s stock worth $94,000,000 after acquiring an additional 1,058,656 shares in the last quarter. Hedge funds and other institutional investors own 90.12% of the company’s stock.
Several brokerages have issued reports on BWA. ValuEngine cut shares of BorgWarner from a “sell” rating to a “strong sell” rating in a report on Thursday. Zacks Investment Research lowered shares of BorgWarner from a “hold” rating to a “sell” rating in a research report on Monday, February 25th. Seaport Global Securities started coverage on shares of BorgWarner in a research report on Wednesday, February 13th. They set a “neutral” rating for the company. Barclays set a $36.00 price target on shares of BorgWarner and gave the company a “hold” rating in a research report on Friday, January 4th. Finally, TheStreet lowered shares of BorgWarner from a “b-” rating to a “c+” rating in a research report on Tuesday, December 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $49.62.
In other BorgWarner news, Director Deborah D. Mcwhinney purchased 1,421 shares of the business’s stock in a transaction that occurred on Wednesday, December 19th. The shares were bought at an average price of $35.14 per share, for a total transaction of $49,933.94. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas J. Mcgill sold 2,400 shares of the stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $41.97, for a total transaction of $100,728.00. Following the completion of the transaction, the chief financial officer now owns 32,958 shares in the company, valued at approximately $1,383,247.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,660 shares of company stock worth $1,099,248. 0.74% of the stock is owned by corporate insiders.
Shares of NYSE:BWA opened at $37.81 on Monday. BorgWarner Inc. has a twelve month low of $32.46 and a twelve month high of $54.35. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.26 and a current ratio of 1.59. The company has a market capitalization of $7.85 billion, a P/E ratio of 8.44, a price-to-earnings-growth ratio of 1.13 and a beta of 1.73.
BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, February 14th. The auto parts company reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.14. BorgWarner had a net margin of 8.84% and a return on equity of 22.70%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the company earned $1.07 EPS. BorgWarner’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts forecast that BorgWarner Inc. will post 4.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.17 dividend. The ex-dividend date was Thursday, February 28th. This represents a $0.68 annualized dividend and a yield of 1.80%. BorgWarner’s dividend payout ratio (DPR) is presently 15.18%.
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BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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