Victory Capital Management Inc. Acquires 219,432 Shares of BorgWarner Inc. (BWA)

Victory Capital Management Inc. raised its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 5.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,061,964 shares of the auto parts company’s stock after purchasing an additional 219,432 shares during the period. Victory Capital Management Inc. owned about 1.95% of BorgWarner worth $173,771,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of BorgWarner by 14.5% during the second quarter. BlackRock Inc. now owns 19,874,263 shares of the auto parts company’s stock valued at $857,773,000 after acquiring an additional 2,517,481 shares during the period. Morgan Stanley boosted its holdings in shares of BorgWarner by 130.9% during the second quarter. Morgan Stanley now owns 1,200,289 shares of the auto parts company’s stock valued at $51,805,000 after acquiring an additional 680,461 shares during the period. OppenheimerFunds Inc. boosted its holdings in shares of BorgWarner by 3,555.5% during the second quarter. OppenheimerFunds Inc. now owns 667,057 shares of the auto parts company’s stock valued at $28,790,000 after acquiring an additional 648,809 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of BorgWarner by 64.7% during the second quarter. Renaissance Technologies LLC now owns 1,237,265 shares of the auto parts company’s stock valued at $53,400,000 after acquiring an additional 486,165 shares during the period. Finally, FMR LLC boosted its holdings in shares of BorgWarner by 65.1% during the second quarter. FMR LLC now owns 1,162,751 shares of the auto parts company’s stock valued at $50,184,000 after acquiring an additional 458,280 shares during the period. Hedge funds and other institutional investors own 91.65% of the company’s stock.

BWA has been the subject of several analyst reports. Royal Bank of Canada reduced their price target on shares of BorgWarner to $49.00 and set a “positive” rating for the company in a report on Wednesday, September 19th. ValuEngine downgraded shares of BorgWarner from a “sell” rating to a “strong sell” rating in a report on Saturday, September 1st. Oppenheimer reduced their price target on shares of BorgWarner from $58.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, July 23rd. Buckingham Research reduced their price target on shares of BorgWarner from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, October 3rd. Finally, Citigroup reduced their price target on shares of BorgWarner from $52.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.38.

In related news, Director Thomas T. Stallkamp sold 7,692 shares of the company’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $39.33, for a total value of $302,526.36. Following the completion of the sale, the director now owns 3,000 shares of the company’s stock, valued at $117,990. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brady D. Ericson sold 16,780 shares of the company’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $39.70, for a total transaction of $666,166.00. Following the completion of the sale, the insider now directly owns 18,089 shares of the company’s stock, valued at approximately $718,133.30. The disclosure for this sale can be found here. Insiders sold 28,472 shares of company stock valued at $1,126,972 in the last ninety days. Corporate insiders own 0.74% of the company’s stock.

BWA stock opened at $40.38 on Friday. The stock has a market capitalization of $8.21 billion, a P/E ratio of 10.38, a P/E/G ratio of 1.34 and a beta of 1.80. BorgWarner Inc. has a fifty-two week low of $35.71 and a fifty-two week high of $58.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.66 and a quick ratio of 1.28.

BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Thursday, October 25th. The auto parts company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.01. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.45 billion. BorgWarner had a net margin of 5.26% and a return on equity of 22.68%. On average, analysts anticipate that BorgWarner Inc. will post 4.37 EPS for the current fiscal year.

About BorgWarner

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.

Recommended Story: How accurate is the Rule of 72?

Want to see what other hedge funds are holding BWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BorgWarner Inc. (NYSE:BWA).

Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

Receive News & Ratings for BorgWarner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BorgWarner and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply