BlackRock Advisors LLC raised its stake in BorgWarner Inc. (NYSE:BWA) by 18.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 422,761 shares of the company’s stock after buying an additional 66,770 shares during the period. BlackRock Advisors LLC owned approximately 0.20% of BorgWarner worth $12,480,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Mizuho Asset Management Co. Ltd. increased its position in shares of BorgWarner by 106.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,567 shares of the company’s stock valued at $105,000 after buying an additional 1,837 shares during the period. River & Mercantile Asset Management LLP boosted its stake in shares of BorgWarner by 166.7% in the second quarter. River & Mercantile Asset Management LLP now owns 4,000 shares of the company’s stock worth $118,000 after buying an additional 2,500 shares during the last quarter. Washington Trust Bank boosted its stake in shares of BorgWarner by 1.4% in the second quarter. Washington Trust Bank now owns 4,054 shares of the company’s stock worth $120,000 after buying an additional 54 shares during the last quarter. JFS Wealth Advisors LLC purchased a new stake in shares of BorgWarner during the second quarter worth approximately $130,000. Finally, ING Groep NV purchased a new stake in shares of BorgWarner during the second quarter worth approximately $227,000. Institutional investors own 88.29% of the company’s stock.
BorgWarner Inc. (NYSE:BWA) opened at 36.30 on Thursday. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 13.13 and a beta of 1.93. The stock’s 50 day moving average price is $34.70 and its 200 day moving average price is $34.16. BorgWarner Inc. has a 12-month low of $27.52 and a 12-month high of $48.64.
BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.02. BorgWarner had a return on equity of 18.50% and a net margin of 7.10%. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the business earned $0.75 earnings per share. The business’s revenue was up 14.6% on a year-over-year basis. Analysts forecast that BorgWarner Inc. will post $3.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.52 annualized dividend and a yield of 1.43%. BorgWarner’s dividend payout ratio (DPR) is presently 18.77%.
A number of equities research analysts have recently commented on BWA shares. Seaport Global Securities started coverage on shares of BorgWarner in a research note on Tuesday, August 9th. They set a “neutral” rating on the stock. Zacks Investment Research raised shares of BorgWarner from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Bank of America Corp. cut shares of BorgWarner from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 21st. Robert W. Baird reaffirmed a “buy” rating on shares of BorgWarner in a research note on Tuesday, June 28th. Finally, Buckingham Research started coverage on shares of BorgWarner in a research note on Tuesday, August 2nd. They set a “neutral” rating and a $33.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $42.71.
In related news, VP Brady D. Ericson sold 17,132 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $33.69, for a total transaction of $577,177.08. Following the transaction, the vice president now directly owns 25,502 shares in the company, valued at $859,162.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brady D. Ericson sold 16,240 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $33.77, for a total value of $548,424.80. Following the transaction, the vice president now owns 70,156 shares in the company, valued at $2,369,168.12. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.
BorgWarner Company Profile
BorgWarner Inc is a supplier of engineered automotive systems and components for powertrain applications. The Company operates through two segments: Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Drivetrain segment’s products include transmission components and systems, all-wheel drive (AWD) torque transfer systems and rotating electrical devices.
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