Bank of Nova Scotia Sells 9,915 Shares of BorgWarner Inc. (NYSE:BWA)

Bank of Nova Scotia trimmed its holdings in shares of BorgWarner Inc. (NYSE:BWAGet Rating) by 33.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,902 shares of the auto parts company’s stock after selling 9,915 shares during the quarter. Bank of Nova Scotia’s holdings in BorgWarner were worth $665,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. AlphaCrest Capital Management LLC increased its position in BorgWarner by 95.5% during the first quarter. AlphaCrest Capital Management LLC now owns 21,703 shares of the auto parts company’s stock worth $844,000 after acquiring an additional 10,601 shares during the period. abrdn plc grew its stake in BorgWarner by 2.7% during the second quarter. abrdn plc now owns 81,537 shares of the auto parts company’s stock worth $2,760,000 after buying an additional 2,112 shares in the last quarter. Arizona State Retirement System grew its stake in BorgWarner by 2.2% during the first quarter. Arizona State Retirement System now owns 66,742 shares of the auto parts company’s stock worth $2,596,000 after buying an additional 1,456 shares in the last quarter. HGK Asset Management Inc. grew its stake in BorgWarner by 11.5% during the first quarter. HGK Asset Management Inc. now owns 14,362 shares of the auto parts company’s stock worth $559,000 after buying an additional 1,480 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in BorgWarner by 42.1% during the second quarter. Robeco Institutional Asset Management B.V. now owns 275,799 shares of the auto parts company’s stock worth $9,204,000 after buying an additional 81,710 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

BorgWarner Stock Up 2.2 %

NYSE:BWA opened at $42.22 on Friday. The firm’s 50 day simple moving average is $36.21 and its 200 day simple moving average is $36.83. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.72 and a quick ratio of 1.28. BorgWarner Inc. has a one year low of $31.14 and a one year high of $50.09. The company has a market cap of $9.89 billion, a PE ratio of 12.24, a P/E/G ratio of 0.33 and a beta of 1.43.

BorgWarner (NYSE:BWAGet Rating) last posted its earnings results on Thursday, October 27th. The auto parts company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.02 by $0.22. BorgWarner had a net margin of 5.33% and a return on equity of 14.51%. The business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the company earned $0.80 EPS. The firm’s revenue was up 18.9% compared to the same quarter last year. On average, research analysts anticipate that BorgWarner Inc. will post 4.37 earnings per share for the current year.

BorgWarner Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.68 annualized dividend and a yield of 1.61%. BorgWarner’s payout ratio is 19.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TheStreet upgraded shares of BorgWarner from a “c+” rating to a “b” rating in a research note on Tuesday, November 15th. Citigroup reduced their price target on shares of BorgWarner from $45.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 28th. Morgan Stanley raised their price target on shares of BorgWarner from $32.00 to $35.00 and gave the company an “underweight” rating in a research note on Friday, October 28th. StockNews.com upgraded shares of BorgWarner from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 28th. Finally, Robert W. Baird raised their price target on shares of BorgWarner from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $47.22.

About BorgWarner

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BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. The company operates through four segments: Air Management, E-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging.

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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