Balyasny Asset Management LLC Buys 43,291 Shares of BorgWarner Inc. (BWA)

Balyasny Asset Management LLC increased its stake in BorgWarner Inc. (NYSE:BWA) by 117.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,020 shares of the auto parts company’s stock after purchasing an additional 43,291 shares during the quarter. Balyasny Asset Management LLC’s holdings in BorgWarner were worth $3,390,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Stifel Financial Corp grew its position in shares of BorgWarner by 4.1% in the second quarter. Stifel Financial Corp now owns 676,290 shares of the auto parts company’s stock valued at $28,643,000 after purchasing an additional 26,561 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of BorgWarner in the second quarter valued at $479,000. Voya Investment Management LLC grew its position in shares of BorgWarner by 38.7% in the second quarter. Voya Investment Management LLC now owns 166,025 shares of the auto parts company’s stock valued at $7,032,000 after purchasing an additional 46,335 shares in the last quarter. Bank of Hawaii grew its position in shares of BorgWarner by 8.0% in the second quarter. Bank of Hawaii now owns 17,354 shares of the auto parts company’s stock valued at $735,000 after purchasing an additional 1,286 shares in the last quarter. Finally, OxFORD Asset Management LLP grew its position in shares of BorgWarner by 204.6% in the second quarter. OxFORD Asset Management LLP now owns 156,271 shares of the auto parts company’s stock valued at $6,620,000 after purchasing an additional 104,963 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Balyasny Asset Management LLC Buys 43,291 Shares of BorgWarner Inc. (BWA)” was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another domain, it was stolen and republished in violation of U.S. and international copyright laws. The original version of this news story can be accessed at https://ledgergazette.com/2017/10/11/balyasny-asset-management-llc-buys-43291-shares-of-borgwarner-inc-bwa.html.

Shares of BorgWarner Inc. (BWA) opened at 51.99 on Wednesday. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 57.96 and a beta of 1.76. BorgWarner Inc. has a 1-year low of $33.09 and a 1-year high of $52.71. The company’s 50-day moving average price is $48.37 and its 200 day moving average price is $44.13.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.07. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the business posted $0.84 EPS. BorgWarner’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts predict that BorgWarner Inc. will post $3.70 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.14 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.08%. BorgWarner’s payout ratio is presently 62.92%.

In other news, EVP Tonit M. Calaway sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total transaction of $134,970.00. Following the completion of the transaction, the executive vice president now owns 34,120 shares in the company, valued at $1,535,058.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brady D. Ericson sold 11,052 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total value of $501,539.76. Following the transaction, the insider now owns 23,418 shares of the company’s stock, valued at approximately $1,062,708.84. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

BWA has been the subject of several recent research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $56.00 price target on shares of BorgWarner in a research report on Tuesday, August 29th. ValuEngine cut BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded BorgWarner from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $55.00 price target (up from $50.00) on shares of BorgWarner in a res

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Stifel Financial Corp grew its position in shares of BorgWarner by 4.1% in the second quarter. Stifel Financial Corp now owns 676,290 shares of the auto parts company’s stock valued at $28,643,000 after purchasing an additional 26,561 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of BorgWarner in the second quarter valued at $479,000. Voya Investment Management LLC grew its position in shares of BorgWarner by 38.7% in the second quarter. Voya Investment Management LLC now owns 166,025 shares of the auto parts company’s stock valued at $7,032,000 after purchasing an additional 46,335 shares in the last quarter. Bank of Hawaii grew its position in shares of BorgWarner by 8.0% in the second quarter. Bank of Hawaii now owns 17,354 shares of the auto parts company’s stock valued at $735,000 after purchasing an additional 1,286 shares in the last quarter. Finally, OxFORD Asset Management LLP grew its position in shares of BorgWarner by 204.6% in the second quarter. OxFORD Asset Management LLP now owns 156,271 shares of the auto parts company’s stock valued at $6,620,000 after purchasing an additional 104,963 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Balyasny Asset Management LLC Buys 43,291 Shares of BorgWarner Inc. (BWA)” was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another domain, it was stolen and republished in violation of U.S. and international copyright laws. The original version of this news story can be accessed at https://ledgergazette.com/2017/10/11/balyasny-asset-management-llc-buys-43291-shares-of-borgwarner-inc-bwa.html.

Shares of BorgWarner Inc. (BWA) opened at 51.99 on Wednesday. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 57.96 and a beta of 1.76. BorgWarner Inc. has a 1-year low of $33.09 and a 1-year high of $52.71. The company’s 50-day moving average price is $48.37 and its 200 day moving average price is $44.13.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.07. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the business posted $0.84 EPS. BorgWarner’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts predict that BorgWarner Inc. will post $3.70 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.14 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.08%. BorgWarner’s payout ratio is presently 62.92%.

In other news, EVP Tonit M. Calaway sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total transaction of $134,970.00. Following the completion of the transaction, the executive vice president now owns 34,120 shares in the company, valued at $1,535,058.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brady D. Ericson sold 11,052 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total value of $501,539.76. Following the transaction, the insider now owns 23,418 shares of the company’s stock, valued at approximately $1,062,708.84. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

BWA has been the subject of several recent research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $56.00 price target on shares of BorgWarner in a research report on Tuesday, August 29th. ValuEngine cut BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded BorgWarner from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $55.00 price target (up from $50.00) on shares of BorgWarner in a research report on Friday, July 28th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $55.00 price target on shares of BorgWarner in a research report on Friday, September 1st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. BorgWarner presently has a consensus rating of “Hold” and an average target price of $44.86.

About BorgWarner

BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.

Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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