Keybank National Association OH cut its stake in shares of BorgWarner Inc. (NYSE:BWA) by 35.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,463 shares of the auto parts company’s stock after selling 3,606 shares during the period. Keybank National Association OH’s holdings in BorgWarner were worth $271,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new position in BorgWarner during the 2nd quarter worth approximately $25,000. Westside Investment Management Inc. acquired a new position in shares of BorgWarner in the 2nd quarter valued at approximately $27,000. Bremer Bank National Association acquired a new position in shares of BorgWarner in the 1st quarter valued at approximately $44,000. CWM LLC raised its position in shares of BorgWarner by 137.9% in the 1st quarter. CWM LLC now owns 2,626 shares of the auto parts company’s stock valued at $101,000 after purchasing an additional 1,522 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of BorgWarner by 119.6% in the 1st quarter. Quadrant Capital Group LLC now owns 2,688 shares of the auto parts company’s stock valued at $97,000 after purchasing an additional 1,464 shares in the last quarter. 89.40% of the stock is currently owned by hedge funds and other institutional investors.
BWA has been the topic of a number of recent analyst reports. Morgan Stanley set a $47.00 target price on BorgWarner and gave the company a “buy” rating in a research report on Wednesday, June 26th. Barclays reaffirmed a “buy” rating and issued a $44.00 target price on shares of BorgWarner in a research report on Thursday, July 18th. Robert W. Baird set a $51.00 target price on BorgWarner and gave the company a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada lowered BorgWarner from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $44.00 to $41.00 in a research report on Friday, July 26th. Finally, Citigroup cut their target price on BorgWarner from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $46.93.
BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, July 25th. The auto parts company reported $1.00 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.00. BorgWarner had a return on equity of 20.13% and a net margin of 7.53%. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $1.18 EPS. The business’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities analysts predict that BorgWarner Inc. will post 3.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.12%. BorgWarner’s dividend payout ratio (DPR) 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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