Stone Ridge Asset Management LLC purchased a new stake in shares of BorgWarner (NYSE:BWA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 24,878 shares of the auto parts company’s stock, valued at approximately $1,271,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Stephens Inc. AR grew its stake in shares of BorgWarner by 20.2% in the fourth quarter. Stephens Inc. AR now owns 5,994 shares of the auto parts company’s stock worth $306,000 after purchasing an additional 1,008 shares during the last quarter. Wayne Hummer Investments L.L.C. grew its stake in shares of BorgWarner by 16.6% in the fourth quarter. Wayne Hummer Investments L.L.C. now owns 7,342 shares of the auto parts company’s stock worth $375,000 after purchasing an additional 1,045 shares during the last quarter. Parkside Investments LLC grew its stake in shares of BorgWarner by 2.4% in the fourth quarter. Parkside Investments LLC now owns 45,500 shares of the auto parts company’s stock worth $2,325,000 after purchasing an additional 1,075 shares during the last quarter. Norinchukin Bank The grew its stake in shares of BorgWarner by 7.3% in the fourth quarter. Norinchukin Bank The now owns 15,846 shares of the auto parts company’s stock worth $810,000 after purchasing an additional 1,079 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. grew its stake in shares of BorgWarner by 0.7% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 173,037 shares of the auto parts company’s stock worth $8,865,000 after purchasing an additional 1,179 shares during the last quarter. Institutional investors and hedge funds own 95.71% of the company’s stock.
Several research firms recently issued reports on BWA. Zacks Investment Research cut BorgWarner from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Barclays reaffirmed a “hold” rating and set a $58.00 price objective on shares of BorgWarner in a research report on Sunday, January 21st. ValuEngine raised BorgWarner from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $61.00 price objective on shares of BorgWarner in a research report on Wednesday, December 20th. Finally, Wells Fargo lifted their price objective on BorgWarner from $55.00 to $56.00 and gave the company a “market perform” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $54.17.
NYSE BWA traded down $1.20 during mid-day trading on Friday, reaching $51.27. The stock had a trading volume of 1,175,929 shares, compared to its average volume of 1,310,029. BorgWarner has a 1 year low of $37.54 and a 1 year high of $58.22. The firm has a market cap of $11,047.56, a P/E ratio of 13.18, a PEG ratio of 1.42 and a beta of 1.81. The company has a quick ratio of 1.15, a current ratio of 1.46 and a debt-to-equity ratio of 0.55.
BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, February 8th. The auto parts company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.06. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.53 billion. BorgWarner had a net margin of 4.49% and a return on equity of 21.92%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 EPS. equities analysts expect that BorgWarner will post 4.27 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.68 dividend on an annualized basis and a yield of 1.33%. BorgWarner’s dividend payout ratio is presently 17.48%.
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BorgWarner Company Profile
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates through two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; and timing systems, such as timing chains, variable cam timing products, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains for light vehicles, and hybrid power transmission chains.
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