Commonwealth Bank of Australia trimmed its holdings in BorgWarner Inc. (NYSE:BWA) by 9.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,180 shares of the auto parts company’s stock after selling 2,406 shares during the quarter. Commonwealth Bank of Australia’s holdings in BorgWarner were worth $1,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in BWA. Louisiana State Employees Retirement System increased its position in BorgWarner by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the auto parts company’s stock valued at $525,000 after buying an additional 100 shares in the last quarter. Acadian Asset Management LLC bought a new stake in BorgWarner in the 2nd quarter valued at about $718,000. NGAM Advisors L.P. increased its position in BorgWarner by 0.5% in the 2nd quarter. NGAM Advisors L.P. now owns 85,627 shares of the auto parts company’s stock valued at $3,628,000 after buying an additional 428 shares in the last quarter. Janney Montgomery Scott LLC increased its position in BorgWarner by 57.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 32,369 shares of the auto parts company’s stock valued at $1,371,000 after buying an additional 11,796 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in BorgWarner by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 19,211 shares of the auto parts company’s stock valued at $814,000 after buying an additional 61 shares in the last quarter. 94.67% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on BWA. BMO Capital Markets boosted their target price on BorgWarner from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, October 30th. Citigroup boosted their target price on BorgWarner from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Barclays set a $50.00 target price on BorgWarner and gave the company a “hold” rating in a research report on Friday, October 20th. Buckingham Research boosted their price objective on BorgWarner from $37.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. Finally, UBS boosted their price objective on BorgWarner from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. BorgWarner has a consensus rating of “Hold” and an average price target of $48.88.
Shares of BorgWarner Inc. (BWA) opened at $54.38 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.43. The company has a market capitalization of $11,435.88, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.57 and a beta of 1.76. BorgWarner Inc. has a twelve month low of $37.30 and a twelve month high of $55.86.
BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.07. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.26 billion. BorgWarner had a return on equity of 21.48% and a net margin of 3.09%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 EPS. sell-side analysts predict that BorgWarner Inc. will post 3.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders 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 dividend yield of 1.25%. BorgWarner’s dividend payout ratio is currently 49.28%.
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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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