Cibc World Market Inc. cut its holdings in shares of BorgWarner Inc. (NYSE:BWA – Get Rating) by 4.9% during the second quarter, Holdings Channel.com reports. The firm owned 6,907 shares of the auto parts company’s stock after selling 354 shares during the period. Cibc World Market Inc.’s holdings in BorgWarner were worth $230,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of BWA. Principal Financial Group Inc. increased its holdings in shares of BorgWarner by 24.0% in the 2nd quarter. Principal Financial Group Inc. now owns 366,126 shares of the auto parts company’s stock valued at $12,218,000 after acquiring an additional 70,747 shares during the period. Cerity Partners LLC raised its holdings in BorgWarner by 590.4% in the second quarter. Cerity Partners LLC now owns 298,808 shares of the auto parts company’s stock worth $9,971,000 after purchasing an additional 255,529 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of BorgWarner during the second quarter valued at about $55,000. Wealthspire Advisors LLC bought a new stake in shares of BorgWarner in the 2nd quarter valued at about $312,000. Finally, Duality Advisers LP bought a new position in shares of BorgWarner during the 2nd quarter worth approximately $712,000. 92.14% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on BWA shares. StockNews.com upgraded shares of BorgWarner from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 28th. Royal Bank of Canada raised their price objective on BorgWarner from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 4th. Bank of America reduced their target price on BorgWarner from $78.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, September 9th. Robert W. Baird raised their price target on BorgWarner from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Finally, Citigroup upped their price objective on shares of BorgWarner from $37.00 to $44.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $48.00.
BorgWarner Price Performance
BorgWarner (NYSE:BWA – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The auto parts company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.22. BorgWarner had a net margin of 5.33% and a return on equity of 14.51%. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the business earned $0.80 earnings per share. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, sell-side analysts forecast 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 issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.62%. The ex-dividend date is Wednesday, November 30th. BorgWarner’s dividend payout ratio (DPR) is 19.71%.
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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