Livforsakringsbolaget Skandia Omsesidigt lessened its stake in shares of BorgWarner Inc. (NYSE:BWA – Free Report) by 9.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,214 shares of the auto parts company’s stock after selling 9,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in BorgWarner were worth $4,411,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of BorgWarner by 72.2% during the first quarter. Steward Partners Investment Advisory LLC now owns 816 shares of the auto parts company’s stock valued at $40,000 after acquiring an additional 342 shares during the period. AllSquare Wealth Management LLC acquired a new position in BorgWarner in the first quarter valued at about $43,000. Belpointe Asset Management LLC bought a new stake in BorgWarner during the fourth quarter worth about $49,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of BorgWarner during the first quarter worth approximately $52,000. Finally, Harbour Investments Inc. increased its holdings in shares of BorgWarner by 76.2% during the first quarter. Harbour Investments Inc. now owns 1,230 shares of the auto parts company’s stock worth $60,000 after buying an additional 532 shares in the last quarter. Institutional investors and hedge funds own 92.35% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the company. UBS Group assumed coverage on BorgWarner in a research report on Tuesday. They set a “buy” rating and a $52.00 price target on the stock. Morgan Stanley cut their price target on BorgWarner from $50.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, August 8th. Barclays decreased their price objective on shares of BorgWarner from $58.00 to $57.00 in a report on Monday, July 10th. Robert W. Baird boosted their target price on shares of BorgWarner from $48.00 to $50.00 in a research note on Thursday, July 6th. Finally, Bank of America raised shares of BorgWarner from a “neutral” rating to a “buy” rating and increased their price target for the company from $54.00 to $67.00 in a research note on Thursday, July 6th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, BorgWarner currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.64.
BorgWarner Trading Down 0.9 %
Shares of NYSE:BWA traded down $0.38 during midday trading on Thursday, hitting $40.03. The company had a trading volume of 381,721 shares, compared to its average volume of 2,223,454. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. BorgWarner Inc. has a 12 month low of $31.14 and a 12 month high of $51.14. The firm has a fifty day simple moving average of $42.71 and a 200 day simple moving average of $45.62. The stock has a market cap of $9.41 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.89 and a beta of 1.44.
BorgWarner (NYSE:BWA – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The auto parts company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.21. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.39 billion. BorgWarner had a return on equity of 15.45% and a net margin of 5.63%. On average, analysts predict that BorgWarner Inc. will post 3.76 EPS for the current year.
BorgWarner Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.11 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.44 annualized dividend and a yield of 1.10%. BorgWarner’s dividend payout ratio (DPR) is presently 10.86%.
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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