Advisors Capital Management LLC grew its holdings in BorgWarner Inc. (NYSE:BWA) by 6.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 53,593 shares of the auto parts company’s stock after purchasing an additional 3,314 shares during the period. Advisors Capital Management LLC’s holdings in BorgWarner were worth $2,746,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in BorgWarner by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 20,470,428 shares of the auto parts company’s stock worth $867,128,000 after buying an additional 308,140 shares during the period. Boston Partners lifted its holdings in BorgWarner by 2.2% during the 2nd quarter. Boston Partners now owns 10,810,607 shares of the auto parts company’s stock worth $457,937,000 after buying an additional 229,447 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in BorgWarner by 2.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 8,486,663 shares of the auto parts company’s stock worth $359,495,000 after buying an additional 176,245 shares during the period. Victory Capital Management Inc. lifted its holdings in BorgWarner by 16.1% during the 2nd quarter. Victory Capital Management Inc. now owns 3,854,638 shares of the auto parts company’s stock worth $163,282,000 after buying an additional 533,701 shares during the period. Finally, Kiltearn Partners LLP lifted its holdings in BorgWarner by 0.9% during the 2nd quarter. Kiltearn Partners LLP now owns 3,152,452 shares of the auto parts company’s stock worth $133,538,000 after buying an additional 28,300 shares during the period. 92.58% of the stock is currently owned by institutional investors.
BorgWarner Inc. (NYSE BWA) traded down $0.03 during trading on Friday, hitting $52.07. 928,100 shares of the stock were exchanged, compared to its average volume of 1,399,268. 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 stock has a market capitalization of $10,978.39, a price-to-earnings ratio of 14.19, a P/E/G ratio of 1.51 and a beta of 1.75. BorgWarner Inc. has a one year low of $33.81 and a one year high of $53.84.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, October 26th. The auto parts company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.07. BorgWarner had a net margin of 3.09% and a return on equity of 21.48%. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the business posted $0.78 earnings per share. BorgWarner’s revenue for the quarter was up 9.1% on a year-over-year basis. sell-side analysts anticipate that BorgWarner Inc. will post 3.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.17 dividend. The ex-dividend date is Thursday, November 30th. This is a positive change from BorgWarner’s previous quarterly dividend of $0.14. This represents a $0.68 annualized dividend and a yield of 1.31%. BorgWarner’s dividend payout ratio (DPR) is 40.58%.
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Several research analysts have recently weighed in on BWA shares. Barclays PLC set a $46.00 price objective on BorgWarner and gave the stock a “hold” rating in a research report on Sunday, August 6th. Deutsche Bank AG lifted their price objective on BorgWarner from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research raised BorgWarner from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, August 22nd. KeyCorp boosted their target price on BorgWarner from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Finally, BidaskClub lowered BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently 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 firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were 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 of the company’s stock, valued at $1,535,058.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brady D. Ericson sold 11,052 shares of the firm’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 transaction, the insider now directly 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. 0.66% of the stock is currently owned by company 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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