ING Groep NV bought a new stake in BorgWarner Inc. (NYSE:BWA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,105 shares of the auto parts company’s stock, valued at approximately $1,074,000.
Several other large investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its stake in shares of BorgWarner by 0.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 214,649 shares of the auto parts company’s stock valued at $9,263,000 after buying an additional 1,201 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in BorgWarner by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 323,031 shares of the auto parts company’s stock worth $13,942,000 after purchasing an additional 1,218 shares during the period. Securian Asset Management Inc increased its position in BorgWarner by 7.1% in the third quarter. Securian Asset Management Inc now owns 21,316 shares of the auto parts company’s stock worth $912,000 after purchasing an additional 1,407 shares during the period. BB&T Securities LLC increased its position in BorgWarner by 33.2% in the second quarter. BB&T Securities LLC now owns 5,681 shares of the auto parts company’s stock worth $245,000 after purchasing an additional 1,415 shares during the period. Finally, Providence Capital Advisors LLC increased its position in BorgWarner by 6.6% in the second quarter. Providence Capital Advisors LLC now owns 23,190 shares of the auto parts company’s stock worth $1,001,000 after purchasing an additional 1,433 shares during the period. Institutional investors own 93.45% of the company’s stock.
BWA has been the subject of a number of research reports. Morgan Stanley lowered their price objective on BorgWarner from $61.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday. Oppenheimer reiterated a “buy” rating and issued a $51.00 price objective on shares of BorgWarner in a research report on Thursday, October 25th. BMO Capital Markets set a $60.00 price objective on BorgWarner and gave the stock a “buy” rating in a research report on Thursday, September 20th. Citigroup lowered their price objective on BorgWarner from $59.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, July 30th. Finally, Bank of America upgraded BorgWarner from an “underperform” rating to a “neutral” rating and set a $45.00 price objective for the company in a research report on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. BorgWarner presently has an average rating of “Buy” and a consensus price target of $54.23.
In other news, VP Joel Wiegert sold 4,000 shares of the business’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $39.57, for a total transaction of $158,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brady D. Ericson sold 16,780 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $39.70, for a total value of $666,166.00. Following the transaction, the insider now owns 18,089 shares of the company’s stock, valued at $718,133.30. The disclosure for this sale can be found here. Insiders have sold a total of 28,472 shares of company stock valued at $1,126,972 over the last 90 days. Corporate insiders own 0.74% of the company’s stock.
BorgWarner stock opened at $39.78 on Friday. The stock has a market cap of $8.29 billion, a PE ratio of 9.14, a P/E/G ratio of 1.35 and a beta of 1.81. BorgWarner Inc. has a 1 year low of $35.71 and a 1 year high of $58.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.66 and a quick ratio of 1.28.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, October 25th. The auto parts company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.01. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.45 billion. BorgWarner had a return on equity of 22.68% and a net margin of 5.26%. Equities analysts forecast that BorgWarner Inc. will post 4.38 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.71%. BorgWarner’s payout ratio is currently 17.48%.
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: Quiet Period
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