Point72 Asset Management L.P. acquired a new stake in shares of BorgWarner Inc. (NYSE:BWA) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 80,000 shares of the auto parts company’s stock, valued at approximately $4,098,000.
A number of other large investors also recently added to or reduced their stakes in BWA. Pacer Advisors Inc. boosted its position in BorgWarner by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 4,433 shares of the auto parts company’s stock valued at $188,000 after purchasing an additional 341 shares during the period. Zeke Capital Advisors LLC acquired a new position in BorgWarner during the 3rd quarter valued at approximately $201,000. Dorsey & Whitney Trust CO LLC acquired a new position in BorgWarner during the 3rd quarter valued at approximately $202,000. Rothschild Investment Corp IL acquired a new position in BorgWarner during the 3rd quarter valued at approximately $205,000. Finally, Reliance Trust Co. of Delaware acquired a new position in BorgWarner during the 3rd quarter valued at approximately $213,000. Institutional investors and hedge funds own 95.15% of the company’s stock.
BorgWarner Inc. (NYSE BWA) traded up $1.40 on Thursday, hitting $55.91. The stock had a trading volume of 1,191,482 shares, compared to its average volume of 1,495,835. BorgWarner Inc. has a 12 month low of $37.54 and a 12 month high of $56.25. The company has a quick ratio of 1.10, a current ratio of 1.43 and a debt-to-equity ratio of 0.53. The company has a market cap of $11,620.00, a P/E ratio of 40.51, a PEG ratio of 1.57 and a beta of 1.76.
BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.95 EPS for the quarter, topping the Zacks’ 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 the consensus estimate of $2.26 billion. During the same quarter in the previous year, the business earned $0.78 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. research analysts expect that BorgWarner Inc. will post 3.83 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, November 30th. This is an increase from BorgWarner’s previous quarterly dividend of $0.14. BorgWarner’s payout ratio is currently 49.28%.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded BorgWarner from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Thursday. BMO Capital Markets boosted their price objective on BorgWarner from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, October 30th. Buckingham Research boosted their price objective on BorgWarner from $37.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, October 19th. Oppenheimer started coverage on BorgWarner in a research note on Thursday, December 7th. They set an “outperform” rating and a $63.00 target price on the stock. Finally, UBS Group lifted their target price on BorgWarner from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $51.88.
In other news, VP Joel Wiegert sold 1,400 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $52.35, for a total value of $73,290.00. Following the sale, the vice president now owns 16,197 shares of the company’s stock, valued at approximately $847,912.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John J. Gasparovic sold 38,409 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $52.60, for a total value of $2,020,313.40. Following the completion of the sale, the executive vice president now directly owns 63,937 shares in the company, valued at approximately $3,363,086.20. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.
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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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