Pinebridge Investments L.P. raised its position in BorgWarner Inc. (NYSE:BWA) by 59.1% during the fourth quarter, HoldingsChannel reports. The firm owned 37,532 shares of the auto parts company’s stock after buying an additional 13,948 shares during the period. Pinebridge Investments L.P.’s holdings in BorgWarner were worth $1,918,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new position in BorgWarner in the 4th quarter valued at about $119,000. Calton & Associates Inc. purchased a new position in shares of BorgWarner during the 4th quarter worth about $150,000. Zeke Capital Advisors LLC purchased a new position in shares of BorgWarner during the 3rd quarter worth about $201,000. Dorsey & Whitney Trust CO LLC purchased a new position in shares of BorgWarner during the 3rd quarter worth about $202,000. Finally, Rothschild Investment Corp IL purchased a new position in shares of BorgWarner during the 3rd quarter worth about $205,000. Institutional investors own 96.75% of the company’s stock.
Shares of BorgWarner Inc. (NYSE:BWA) opened at $52.24 on Friday. The stock has a market cap of $10,967.55, a P/E ratio of 25.24, a P/E/G ratio of 1.42 and a beta of 1.82. BorgWarner Inc. has a 1 year low of $37.54 and a 1 year high of $58.22. The company has a current ratio of 1.46, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, February 8th. The auto parts company reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.06. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.53 billion. BorgWarner had a net margin of 4.49% and a return on equity of 21.92%. The company’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. analysts expect that BorgWarner Inc. will post 4.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Wednesday, February 28th. BorgWarner’s dividend payout ratio (DPR) is presently 32.85%.
In other BorgWarner news, VP Joel Wiegert sold 1,400 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $52.35, for a total value of $73,290.00. Following the completion of the sale, the vice president now owns 16,197 shares of the company’s stock, valued at $847,912.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John J. Gasparovic sold 38,409 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $52.60, for a total transaction of $2,020,313.40. Following the completion of the sale, the executive vice president now directly owns 63,937 shares of the company’s stock, 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 corporate insiders.
Several research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Barclays reiterated a “hold” rating and set a $58.00 price objective on shares of BorgWarner in a report on Sunday, January 21st. ValuEngine upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada reiterated a “hold” rating and set a $61.00 price objective on shares of BorgWarner in a report on Wednesday, December 20th. Finally, Oppenheimer assumed coverage on shares of BorgWarner in a report on Thursday, December 7th. They set an “outperform” rating and a $63.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $52.59.
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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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