Advisors Asset Management Inc. lowered its stake in BorgWarner Inc. (NYSE:BWA – Get Rating) by 5.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,985 shares of the auto parts company’s stock after selling 454 shares during the period. Advisors Asset Management Inc.’s holdings in BorgWarner were worth $266,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of BorgWarner in the 1st quarter worth about $27,000. Capital Advisors Ltd. LLC increased its position in shares of BorgWarner by 7,755.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 707 shares of the auto parts company’s stock worth $28,000 after purchasing an additional 698 shares during the last quarter. CX Institutional bought a new stake in shares of BorgWarner in the 2nd quarter worth about $31,000. Wolff Wiese Magana LLC acquired a new position in shares of BorgWarner in the 2nd quarter valued at about $33,000. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of BorgWarner by 320.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,128 shares of the auto parts company’s stock valued at $44,000 after buying an additional 860 shares during the period. Institutional investors own 92.14% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on BWA. Royal Bank of Canada lifted their price target on shares of BorgWarner from $46.00 to $48.00 and gave the company a “sector perform” rating in a report on Thursday, August 4th. StockNews.com raised shares of BorgWarner from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 28th. Citigroup reduced their price target on shares of BorgWarner from $45.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, September 28th. Morgan Stanley upped their price target on shares of BorgWarner from $32.00 to $35.00 and gave the stock an “underweight” rating in a research note on Friday, October 28th. Finally, Robert W. Baird upped their price target on shares of BorgWarner from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $47.22.
BorgWarner Price Performance
BorgWarner (NYSE:BWA – Get Rating) last released its earnings results on Thursday, October 27th. The auto parts company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.02 by $0.22. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.99 billion. BorgWarner had a net margin of 5.33% and a return on equity of 14.51%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 EPS. On average, sell-side analysts predict that BorgWarner Inc. will post 4.37 EPS for the current year.
BorgWarner Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Wednesday, November 30th. BorgWarner’s payout ratio is currently 19.71%.
BorgWarner Company Profile
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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