UBS Group AG grew its position in BorgWarner Inc. (NYSE:BWA – Free Report) by 62.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 804,800 shares of the auto parts company’s stock after purchasing an additional 310,568 shares during the period. UBS Group AG owned about 0.34% of BorgWarner worth $39,524,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in shares of BorgWarner by 1,080.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,956,068 shares of the auto parts company’s stock valued at $19,773,000 after acquiring an additional 2,705,713 shares during the last quarter. Norges Bank acquired a new stake in shares of BorgWarner in the fourth quarter valued at $92,430,000. Ceredex Value Advisors LLC raised its holdings in shares of BorgWarner by 97.2% in the first quarter. Ceredex Value Advisors LLC now owns 1,595,641 shares of the auto parts company’s stock valued at $78,362,000 after buying an additional 786,542 shares during the last quarter. Invesco Ltd. raised its holdings in shares of BorgWarner by 24.7% in the first quarter. Invesco Ltd. now owns 3,637,381 shares of the auto parts company’s stock valued at $141,495,000 after buying an additional 720,690 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in BorgWarner by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 26,131,243 shares of the auto parts company’s stock worth $1,016,505,000 after buying an additional 570,039 shares in the last quarter. Institutional investors own 92.35% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 target price on shares of BorgWarner in a research note on Thursday, August 3rd. JPMorgan Chase & Co. dropped their price objective on shares of BorgWarner from $59.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, July 20th. Nomura Instinet reiterated a “neutral” rating and issued a $44.00 price objective on shares of BorgWarner in a research report on Thursday, August 17th. Wells Fargo & Company lowered their target price on BorgWarner from $56.00 to $53.00 in a research note on Monday, July 10th. Finally, Robert W. Baird upped their price target on BorgWarner from $48.00 to $50.00 in a research note on Thursday, July 6th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, BorgWarner currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.62.
BorgWarner Stock Performance
Shares of NYSE:BWA opened at $40.49 on Thursday. The firm’s 50 day simple moving average is $43.48 and its 200 day simple moving average is $45.95. BorgWarner Inc. has a fifty-two week low of $31.14 and a fifty-two week high of $51.14. The company has a market capitalization of $9.52 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 0.90 and a beta of 1.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.62 and a quick ratio of 1.18.
BorgWarner (NYSE:BWA – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.21. BorgWarner had a net margin of 5.63% and a return on equity of 15.45%. The company had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.39 billion. As a group, sell-side analysts forecast that BorgWarner Inc. will post 3.76 earnings per share for the current year.
BorgWarner Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.44 dividend on an annualized basis and a yield of 1.09%. BorgWarner’s payout ratio is 10.86%.
Insiders Place Their Bets
In related news, VP Stefan Demmerle sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $47.61, for a total value of $238,050.00. Following the completion of the transaction, the vice president now directly owns 177,614 shares in the company, valued at approximately $8,456,202.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.45% of the company’s stock.
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It 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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