BorgWarner Inc. (NYSE:BWA) Shares Acquired by Parkside Investments LLC

Parkside Investments LLC lifted its stake in shares of BorgWarner Inc. (NYSE:BWA) by 25.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,334 shares of the auto parts company’s stock after purchasing an additional 31,450 shares during the period. Parkside Investments LLC owned 0.07% of BorgWarner worth $7,646,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BWA. Envestnet Asset Management Inc. boosted its holdings in shares of BorgWarner by 1,080.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,956,068 shares of the auto parts company’s stock worth $19,773,000 after purchasing an additional 2,705,713 shares during the last quarter. Norges Bank acquired a new position in shares of BorgWarner during the 4th quarter worth approximately $92,430,000. Nordea Investment Management AB boosted its holdings in shares of BorgWarner by 10,047.3% during the 2nd quarter. Nordea Investment Management AB now owns 1,711,145 shares of the auto parts company’s stock worth $83,093,000 after purchasing an additional 1,694,282 shares during the last quarter. Ceredex Value Advisors LLC boosted its holdings in shares of BorgWarner by 97.2% during the 1st quarter. Ceredex Value Advisors LLC now owns 1,595,641 shares of the auto parts company’s stock worth $78,362,000 after purchasing an additional 786,542 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of BorgWarner by 24.7% during the 1st quarter. Invesco Ltd. now owns 3,637,381 shares of the auto parts company’s stock worth $141,495,000 after purchasing an additional 720,690 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BWA shares. UBS Group began coverage on BorgWarner in a report on Tuesday. They issued a “buy” rating and a $52.00 price objective on the stock. Bank of America upgraded BorgWarner from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $54.00 to $67.00 in a research report on Thursday, July 6th. Barclays lowered their price objective on BorgWarner from $58.00 to $57.00 in a research report on Monday, July 10th. Nomura lowered BorgWarner from a “buy” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research report on Thursday, August 17th. Finally, Robert W. Baird increased their price objective on BorgWarner from $48.00 to $50.00 in a research report on Thursday, July 6th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.64.

BorgWarner Trading Up 1.6 %

Shares of BWA traded up $0.65 during midday trading on Friday, hitting $40.99. 440,543 shares of the stock were exchanged, compared to its average volume of 2,229,010. BorgWarner Inc. has a 52-week low of $31.14 and a 52-week high of $51.14. The stock has a fifty day simple moving average of $42.62 and a 200 day simple moving average of $45.58. The firm has a market cap of $9.64 billion, a P/E ratio of 9.96, 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 quick ratio of 1.18 and a current ratio of 1.62.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.21. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.39 billion. BorgWarner had a return on equity of 15.45% and a net margin of 5.63%. On average, research analysts anticipate that BorgWarner Inc. will post 3.76 EPS for the current fiscal year.

BorgWarner Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, August 31st. BorgWarner’s payout ratio is currently 10.86%.

BorgWarner Company Profile

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.