First Trust Advisors LP cut its holdings in BorgWarner Inc. (NYSE:BWA) by 19.7% during the third quarter, Holdings Channel reports. The institutional investor owned 207,931 shares of the auto parts company’s stock after selling 51,076 shares during the period. First Trust Advisors LP’s holdings in BorgWarner were worth $7,627,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of BWA. Diamond Hill Capital Management Inc. raised its stake in BorgWarner by 21.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 12,104,013 shares of the auto parts company’s stock valued at $443,975,000 after buying an additional 2,116,861 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its position in shares of BorgWarner by 95.5% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 2,149,267 shares of the auto parts company’s stock worth $90,226,000 after purchasing an additional 1,049,785 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of BorgWarner by 16.0% during the second quarter. Victory Capital Management Inc. now owns 5,984,092 shares of the auto parts company’s stock worth $251,212,000 after purchasing an additional 824,302 shares in the last quarter. Invesco Ltd. increased its position in shares of BorgWarner by 41.2% during the second quarter. Invesco Ltd. now owns 2,760,862 shares of the auto parts company’s stock worth $115,901,000 after purchasing an additional 805,905 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in shares of BorgWarner during the second quarter worth about $25,429,000. Institutional investors own 91.65% of the company’s stock.
A number of analysts have recently commented on the company. 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. Zacks Investment Research cut BorgWarner from a “hold” rating to a “sell” rating and set a $39.00 target price on the stock. in a research report on Friday, September 27th. TheStreet upgraded BorgWarner from a “c+” rating to a “b-” rating in a research report on Tuesday, November 5th. Oppenheimer set a $47.00 target price on BorgWarner and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Barclays reiterated a “buy” rating and set a $46.00 target price on shares of BorgWarner in a research report on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. BorgWarner presently has an average rating of “Hold” and an average target price of $45.33.
BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, October 31st. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.11. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.39 billion. BorgWarner had a return on equity of 19.43% and a net margin of 7.43%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 EPS. Analysts expect that BorgWarner Inc. will post 3.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Friday, November 29th. BorgWarner’s dividend payout ratio (DPR) is presently 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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