New York State Common Retirement Fund boosted its position in BorgWarner Inc. (NYSE:BWA) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 718,818 shares of the auto parts company’s stock after purchasing an additional 9,200 shares during the quarter. New York State Common Retirement Fund owned approximately 0.34% of BorgWarner worth $36,825,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in BorgWarner by 1.5% in the second quarter. Vanguard Group Inc. now owns 20,470,428 shares of the auto parts company’s stock worth $867,128,000 after purchasing an additional 308,140 shares in the last quarter. Boston Partners raised its holdings in BorgWarner by 7.2% in the third quarter. Boston Partners now owns 11,588,389 shares of the auto parts company’s stock worth $593,672,000 after purchasing an additional 777,782 shares in the last quarter. Victory Capital Management Inc. raised its holdings in BorgWarner by 1.3% in the third quarter. Victory Capital Management Inc. now owns 3,904,799 shares of the auto parts company’s stock worth $200,044,000 after purchasing an additional 50,161 shares in the last quarter. Kiltearn Partners LLP raised its holdings in BorgWarner by 0.9% in the second quarter. Kiltearn Partners LLP now owns 3,152,452 shares of the auto parts company’s stock worth $133,538,000 after purchasing an additional 28,300 shares in the last quarter. Finally, Black Creek Investment Management Inc. grew its stake in shares of BorgWarner by 32.5% in the second quarter. Black Creek Investment Management Inc. now owns 2,664,249 shares of the auto parts company’s stock worth $112,858,000 after acquiring an additional 653,574 shares during the last quarter. Institutional investors and hedge funds own 94.67% of the company’s stock.
Shares of BorgWarner Inc. (NYSE:BWA) opened at $53.76 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. BorgWarner Inc. has a 12-month low of $37.54 and a 12-month high of $55.86. The company has a market capitalization of $11,317.81, a price-to-earnings ratio of 14.63, a P/E/G ratio of 1.56 and a beta of 1.76.
BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.88 by $0.07. BorgWarner had a return on equity of 21.48% and a net margin of 3.09%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the firm posted $0.78 earnings per share. BorgWarner’s revenue was up 9.1% compared to the same quarter last year. research analysts predict that BorgWarner Inc. will post 3.82 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, November 30th. This is a boost from BorgWarner’s previous quarterly dividend of $0.14. This represents a $0.68 annualized dividend and a dividend yield of 1.26%. BorgWarner’s dividend payout ratio (DPR) is 49.28%.
A number of equities research analysts have recently commented on the company. Zacks Investment Research raised BorgWarner from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Tuesday, September 5th. Oppenheimer assumed coverage on BorgWarner in a research note on Thursday. They issued an “outperform” rating and a $63.00 target price on the stock. BMO Capital Markets reissued an “outperform” rating on shares of BorgWarner in a research note on Tuesday, September 12th. Buckingham Research increased their target price on BorgWarner from $37.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, October 19th. Finally, Robert W. Baird reissued a “buy” rating and issued a $55.00 target price on shares of BorgWarner in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $49.67.
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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