Psagot Investment House Ltd. cut its holdings in BorgWarner Inc. (NYSE:BWA) by 13.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,508 shares of the auto parts company’s stock after selling 2,472 shares during the period. Psagot Investment House Ltd.’s holdings in BorgWarner were worth $693,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new position in BorgWarner in the second quarter worth approximately $25,000. Westside Investment Management Inc. bought a new position in BorgWarner in the second quarter worth approximately $27,000. Bremer Bank National Association bought a new position in BorgWarner in the first quarter worth approximately $44,000. CWM LLC raised its position in BorgWarner by 137.9% in the first quarter. CWM LLC now owns 2,626 shares of the auto parts company’s stock worth $101,000 after acquiring an additional 1,522 shares during the period. Finally, Quadrant Capital Group LLC raised its position in BorgWarner by 119.6% in the first quarter. Quadrant Capital Group LLC now owns 2,688 shares of the auto parts company’s stock worth $97,000 after acquiring an additional 1,464 shares during the period. Institutional investors and hedge funds own 90.12% of the company’s stock.
Several analysts have recently commented on the stock. Credit Suisse Group decreased their price objective on shares of BorgWarner from $50.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Robert W. Baird set a $51.00 price objective on shares of BorgWarner and gave the company a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada downgraded shares of BorgWarner from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $44.00 to $41.00 in a research report on Friday, July 26th. ValuEngine upgraded shares of BorgWarner from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 4th. Finally, Morgan Stanley set a $47.00 price objective on shares of BorgWarner and gave the company a “buy” rating in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $46.93.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, July 25th. The auto parts company reported $1.00 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.00. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.52 billion. BorgWarner had a net margin of 7.53% and a return on equity of 20.13%. BorgWarner’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the company posted $1.18 earnings per share. Analysts anticipate that BorgWarner Inc. will post 3.88 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.68 annualized dividend and a yield of 2.01%. BorgWarner’s payout ratio is 15.18%.
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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