Pictet Asset Management SA Has $3.99 Million Stock Position in BorgWarner Inc. (NYSE:BWA)

Pictet Asset Management SA reduced its position in BorgWarner Inc. (NYSE:BWAGet Rating) by 4.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 119,481 shares of the auto parts company’s stock after selling 5,095 shares during the period. Pictet Asset Management SA’s holdings in BorgWarner were worth $3,987,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. lifted its stake in BorgWarner by 6.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 4,231 shares of the auto parts company’s stock valued at $140,000 after purchasing an additional 260 shares during the last quarter. Independent Advisor Alliance lifted its stake in BorgWarner by 5.2% in the 1st quarter. Independent Advisor Alliance now owns 5,758 shares of the auto parts company’s stock valued at $224,000 after purchasing an additional 284 shares during the last quarter. Quantinno Capital Management LP raised its holdings in BorgWarner by 2.3% in the 1st quarter. Quantinno Capital Management LP now owns 12,910 shares of the auto parts company’s stock valued at $502,000 after acquiring an additional 286 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in BorgWarner by 1.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 26,500 shares of the auto parts company’s stock valued at $1,031,000 after acquiring an additional 293 shares during the period. Finally, First Pacific Financial raised its holdings in BorgWarner by 3.3% in the 2nd quarter. First Pacific Financial now owns 9,371 shares of the auto parts company’s stock valued at $313,000 after acquiring an additional 297 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BWA. Morgan Stanley increased their price target on shares of BorgWarner from $32.00 to $35.00 and gave the company an “underweight” rating in a report on Friday, October 28th. StockNews.com raised shares of BorgWarner from a “buy” rating to a “strong-buy” rating in a report on Friday, October 28th. Robert W. Baird increased their price target on shares of BorgWarner from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. TheStreet raised shares of BorgWarner from a “c+” rating to a “b” rating in a report on Tuesday, November 15th. Finally, Bank of America lowered their price target on shares of BorgWarner from $78.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, September 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.22.

BorgWarner Stock Performance

Shares of BorgWarner stock opened at $42.22 on Monday. BorgWarner Inc. has a fifty-two week low of $31.14 and a fifty-two week high of $50.09. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.72 and a quick ratio of 1.28. The firm has a market capitalization of $9.89 billion, a P/E ratio of 12.24, a P/E/G ratio of 0.34 and a beta of 1.43. The company’s 50 day moving average price is $36.21 and its two-hundred day moving average price is $36.82.

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

BorgWarner Announces Dividend

The company 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 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Wednesday, November 30th. BorgWarner’s dividend payout ratio is presently 19.71%.

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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