Crossmark Global Holdings Inc. purchased a new position in shares of BorgWarner Inc. (NYSE:BWA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,200 shares of the auto parts company’s stock, valued at approximately $1,189,000.
Other institutional investors also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its stake in shares of BorgWarner by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 19,211 shares of the auto parts company’s stock worth $814,000 after acquiring an additional 61 shares in the last quarter. Hanson & Doremus Investment Management raised its holdings in BorgWarner by 0.9% during the second quarter. Hanson & Doremus Investment Management now owns 8,895 shares of the auto parts company’s stock valued at $377,000 after buying an additional 75 shares in the last quarter. Contravisory Investment Management Inc. raised its holdings in BorgWarner by 1.3% during the second quarter. Contravisory Investment Management Inc. now owns 6,356 shares of the auto parts company’s stock valued at $269,000 after buying an additional 79 shares in the last quarter. Cutter & CO Brokerage Inc. increased its stake in shares of BorgWarner by 1.7% in the second quarter. Cutter & CO Brokerage Inc. now owns 5,270 shares of the auto parts company’s stock worth $223,000 after purchasing an additional 90 shares during the period. Finally, MML Investors Services LLC increased its stake in shares of BorgWarner by 1.2% in the second quarter. MML Investors Services LLC now owns 7,407 shares of the auto parts company’s stock worth $314,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 92.58% of the company’s stock.
Shares of BorgWarner Inc. (BWA) opened at $52.10 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The company has a market cap of $11,003.66, a PE ratio of 14.22, a PEG ratio of 1.51 and a beta of 1.75. BorgWarner Inc. has a 52-week low of $33.81 and a 52-week high of $53.84.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, October 26th. The auto parts company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.88 by $0.07. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.26 billion. BorgWarner had a net margin of 3.09% and a return on equity of 21.48%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. research analysts anticipate that BorgWarner Inc. will post 3.82 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.17 per share. This is a boost from BorgWarner’s previous quarterly dividend of $0.14. This represents a $0.68 annualized dividend and a yield of 1.31%. BorgWarner’s payout ratio is 40.58%.
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A number of equities research analysts recently weighed in on the company. BMO Capital Markets lifted their target price on BorgWarner from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, October 30th. Citigroup Inc. lifted their price objective on BorgWarner from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Barclays PLC set a $50.00 target price on BorgWarner and gave the stock a “hold” rating in a report on Friday, October 20th. Buckingham Research boosted their target price on BorgWarner from $37.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. Finally, UBS AG boosted their price objective on shares of BorgWarner from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. BorgWarner has a consensus rating of “Hold” and an average price target of $47.72.
In other BorgWarner news, EVP Tonit M. Calaway sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $44.99, for a total value of $134,970.00. Following the transaction, the executive vice president now directly owns 34,120 shares in the company, valued at $1,535,058.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brady D. Ericson sold 11,052 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total transaction of $501,539.76. Following the completion of the sale, the insider now directly owns 23,418 shares in the company, valued at approximately $1,062,708.84. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.
BorgWarner Company Profile
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.
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