Morse Asset Management Inc cut its position in shares of BorgWarner Inc. (NYSE:BWA) by 93.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,000 shares of the auto parts company’s stock after selling 72,570 shares during the period. Morse Asset Management Inc’s holdings in BorgWarner were worth $212,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. CENTRAL TRUST Co increased its stake in BorgWarner by 5.3% in the second quarter. CENTRAL TRUST Co now owns 2,679 shares of the auto parts company’s stock worth $114,000 after buying an additional 135 shares during the last quarter. Van ECK Associates Corp increased its stake in BorgWarner by 6.8% in the first quarter. Van ECK Associates Corp now owns 2,702 shares of the auto parts company’s stock worth $113,000 after buying an additional 171 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in BorgWarner during the first quarter worth $105,000. SRS Capital Advisors Inc. increased its stake in BorgWarner by 13.7% in the first quarter. SRS Capital Advisors Inc. now owns 2,929 shares of the auto parts company’s stock worth $122,000 after buying an additional 354 shares during the last quarter. Finally, Whittier Trust Co. increased its stake in BorgWarner by 6.4% in the first quarter. Whittier Trust Co. now owns 3,165 shares of the auto parts company’s stock worth $132,000 after buying an additional 189 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.
BorgWarner Inc. (NYSE:BWA) opened at 46.53 on Thursday. The firm’s 50-day moving average is $44.71 and its 200 day moving average is $42.24. BorgWarner Inc. has a 12-month low of $33.09 and a 12-month high of $48.03. The company has a market cap of $9.82 billion, a price-to-earnings ratio of 51.87 and a beta of 1.73.
BorgWarner (NYSE:BWA) last issued its earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.07. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.27 billion. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. BorgWarner’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. On average, equities analysts expect that BorgWarner Inc. will post $3.70 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, August 30th. BorgWarner’s dividend payout ratio (DPR) is presently 62.92%.
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A number of research firms have recently weighed in on BWA. Barclays PLC set a $46.00 price target on shares of BorgWarner and gave the company a “hold” rating in a research note on Sunday. Deutsche Bank AG raised their price target on shares of BorgWarner from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday. BidaskClub downgraded shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. BMO Capital Markets restated an “outperform” rating and issued a $55.00 price target (up from $50.00) on shares of BorgWarner in a research note on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of BorgWarner from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.67.
In other news, Director Dennis C. Cuneo sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $44.06, for a total transaction of $44,060.00. Following the completion of the sale, the director now owns 13,398 shares of the company’s stock, valued at $590,315.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.
BorgWarner Company Profile
BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.
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