Point72 Hong Kong Ltd purchased a new position in BorgWarner Inc. (NYSE:BWA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,861 shares of the auto parts company's stock, valued at approximately $511,000.
Several other institutional investors also recently added to or reduced their stakes in the stock. Trillium Asset Management LLC increased its stake in BorgWarner by 2.1% in the 1st quarter. Trillium Asset Management LLC now owns 13,788 shares of the auto parts company's stock worth $479,000 after buying an additional 283 shares during the period. Empirical Finance LLC increased its stake in BorgWarner by 3.5% in the 1st quarter. Empirical Finance LLC now owns 8,456 shares of the auto parts company's stock worth $294,000 after buying an additional 285 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in BorgWarner by 1.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,200 shares of the auto parts company's stock worth $667,000 after buying an additional 335 shares during the period. First Pacific Financial increased its stake in BorgWarner by 3.6% in the 2nd quarter. First Pacific Financial now owns 9,763 shares of the auto parts company's stock worth $315,000 after buying an additional 340 shares during the period. Finally, Verdence Capital Advisors LLC increased its stake in BorgWarner by 3.8% in the 1st quarter. Verdence Capital Advisors LLC now owns 9,459 shares of the auto parts company's stock worth $329,000 after buying an additional 343 shares during the period. Hedge funds and other institutional investors own 95.67% of the company's stock.
BWA stock opened at $35.80 on Friday. The firm has a 50 day moving average of $32.95 and a 200 day moving average of $33.67. The stock has a market capitalization of $8.16 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 0.94 and a beta of 1.20. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $41.06.
BorgWarner (NYSE:BWA - Get Free Report) last released its earnings results on Wednesday, July 31st. The auto parts company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.18. The company had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.69 billion. BorgWarner had a net margin of 4.97% and a return on equity of 15.50%. BorgWarner's revenue for the quarter was down 20.3% on a year-over-year basis. During the same period last year, the business earned $1.35 EPS. Sell-side analysts forecast that BorgWarner Inc. will post 4.1 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Tuesday, September 3rd. BorgWarner's dividend payout ratio (DPR) is presently 16.67%.
In related news, EVP Tania Wingfield sold 2,066 shares of BorgWarner stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.00, for a total value of $66,112.00. Following the completion of the sale, the executive vice president now directly owns 46,016 shares in the company, valued at approximately $1,472,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BorgWarner news, EVP Tania Wingfield sold 2,066 shares of BorgWarner stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.00, for a total transaction of $66,112.00. Following the completion of the sale, the executive vice president now directly owns 46,016 shares in the company, valued at approximately $1,472,512. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Tonit M. Calaway sold 10,868 shares of BorgWarner stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $31.74, for a total transaction of $344,950.32. Following the sale, the chief accounting officer now owns 206,083 shares of the company's stock, valued at $6,541,074.42. The disclosure for this sale can be found here. 0.45% of the stock is owned by company insiders.
A number of research firms have commented on BWA. Wells Fargo & Company cut their target price 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. StockNews.com raised shares of BorgWarner from a "hold" rating to a "buy" rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $36.00 target price on shares of BorgWarner in a research report on Tuesday, September 10th. Bank of America cut their target price on shares of BorgWarner from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, July 22nd. Finally, Robert W. Baird raised their target price on shares of BorgWarner from $38.00 to $39.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $41.07.
Read Our Latest Stock Report on 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.
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