Earnest Partners LLC decreased its stake in shares of BorgWarner Inc. (NYSE:BWA) by 2.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,159,231 shares of the auto parts company’s stock after selling 34,791 shares during the quarter. Earnest Partners LLC’s holdings in BorgWarner were worth $50,032,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. lifted its position in BorgWarner by 14.5% during the second quarter. BlackRock Inc. now owns 19,874,263 shares of the auto parts company’s stock worth $857,773,000 after buying an additional 2,517,481 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in BorgWarner by 3.0% during the second quarter. Diamond Hill Capital Management Inc. now owns 8,380,386 shares of the auto parts company’s stock worth $361,697,000 after buying an additional 241,769 shares in the last quarter. JPMorgan Chase & Co. lifted its position in BorgWarner by 4.0% during the first quarter. JPMorgan Chase & Co. now owns 5,205,225 shares of the auto parts company’s stock worth $261,459,000 after buying an additional 198,540 shares in the last quarter. LSV Asset Management lifted its position in BorgWarner by 8.4% during the second quarter. LSV Asset Management now owns 4,426,453 shares of the auto parts company’s stock worth $191,045,000 after buying an additional 341,578 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in BorgWarner by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,536,508 shares of the auto parts company’s stock worth $109,489,000 after buying an additional 73,548 shares in the last quarter. Hedge funds and other institutional investors own 91.65% of the company’s stock.
NYSE:BWA opened at $43.81 on Wednesday. BorgWarner Inc. has a 52 week low of $42.06 and a 52 week high of $58.22. The company has a current ratio of 1.58, a quick ratio of 1.23 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, July 26th. The auto parts company reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.08. BorgWarner had a return on equity of 22.83% and a net margin of 5.11%. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the business earned $0.96 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. research analysts predict that BorgWarner Inc. will post 4.49 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Tuesday, September 4th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, August 31st. This represents a $0.68 annualized dividend and a dividend yield of 1.55%. BorgWarner’s dividend payout ratio is presently 17.48%.
A number of equities analysts recently commented on BWA shares. Goldman Sachs Group upgraded BorgWarner from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $58.00 in a research report on Monday, June 25th. Wells Fargo & Co upgraded BorgWarner from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $57.00 to $56.00 in a research report on Wednesday, July 18th. ValuEngine downgraded BorgWarner from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Citigroup reduced their target price on BorgWarner from $60.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 22nd. Finally, Oppenheimer reduced their target price on BorgWarner from $58.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, July 23rd. 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’s stock. BorgWarner has a consensus rating of “Buy” and a consensus target price of $57.73.
In related news, VP Thomas J. Mcgill sold 3,260 shares of the business’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $44.55, for a total value of $145,233.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Tonit M. Calaway sold 4,590 shares of the business’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $46.01, for a total value of $211,185.90. Following the completion of the sale, the executive vice president now owns 34,982 shares in the company, valued at approximately $1,609,521.82. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by insiders.
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: Return on Investment (ROI)
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