Millennium Management LLC Boosts Stake in BorgWarner Inc. (BWA)

Millennium Management LLC grew its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 278.1% in the 1st quarter, HoldingsChannel reports. The firm owned 511,227 shares of the auto parts company’s stock after purchasing an additional 376,030 shares during the period. Millennium Management LLC’s holdings in BorgWarner were worth $25,679,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Boston Partners boosted its position in shares of BorgWarner by 1.2% during the 1st quarter. Boston Partners now owns 11,648,949 shares of the auto parts company’s stock valued at $585,127,000 after purchasing an additional 132,772 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of BorgWarner by 3.7% in the first quarter. Diamond Hill Capital Management Inc. now owns 8,138,617 shares of the auto parts company’s stock worth $408,803,000 after buying an additional 289,179 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of BorgWarner by 4.0% in the first quarter. JPMorgan Chase & Co. now owns 5,205,225 shares of the auto parts company’s stock worth $261,459,000 after buying an additional 198,540 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of BorgWarner by 0.6% in the first quarter. Victory Capital Management Inc. now owns 4,138,956 shares of the auto parts company’s stock worth $207,900,000 after buying an additional 26,054 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of BorgWarner by 7.7% in the first quarter. LSV Asset Management now owns 4,084,875 shares of the auto parts company’s stock worth $205,183,000 after buying an additional 290,788 shares during the period. Institutional investors own 93.43% of the company’s stock.

BWA stock opened at $43.16 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.52 and a debt-to-equity ratio of 0.53. The company has a market cap of $9.19 billion, a P/E ratio of 10.72, a P/E/G ratio of 1.24 and a beta of 1.80. BorgWarner Inc. has a 52 week low of $41.33 and a 52 week high of $58.22.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, April 26th. The auto parts company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.03 by $0.07. The business had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.63 billion. BorgWarner had a net margin of 4.68% and a return on equity of 22.15%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. analysts anticipate that BorgWarner Inc. will post 4.42 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Thursday, May 31st. BorgWarner’s dividend payout ratio is currently 17.48%.

Several research analysts have commented on the stock. Cowen assumed coverage on shares of BorgWarner in a report on Monday, April 16th. They issued an “outperform” rating and a $60.00 target price for the company. BMO Capital Markets reiterated a “buy” rating and issued a $64.00 target price on shares of BorgWarner in a report on Tuesday, March 6th. Citigroup decreased their target price on shares of BorgWarner from $60.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, May 22nd. Morgan Stanley cut shares of BorgWarner to a “buy” rating and set a $57.00 target price for the company. in a report on Friday, March 23rd. Finally, Zacks Investment Research upgraded shares of BorgWarner from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Wednesday, March 28th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.88.

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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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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