Banque Pictet & Cie SA lowered its stake in shares of BorgWarner Inc. (NYSE:BWA) by 18.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 319,927 shares of the auto parts company’s stock after selling 74,038 shares during the period. Banque Pictet & Cie SA owned 0.15% of BorgWarner worth $13,552,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of BWA. CIBC Asset Management Inc grew its stake in BorgWarner by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 19,211 shares of the auto parts company’s stock valued at $814,000 after buying an additional 61 shares in the last quarter. Hanson & Doremus Investment Management grew its stake in BorgWarner by 0.9% in the 2nd quarter. Hanson & Doremus Investment Management now owns 8,895 shares of the auto parts company’s stock valued at $377,000 after buying an additional 75 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in BorgWarner by 0.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 18,846 shares of the auto parts company’s stock valued at $788,000 after buying an additional 77 shares in the last quarter. Contravisory Investment Management Inc. grew its stake in BorgWarner by 1.3% in the 2nd quarter. Contravisory Investment Management Inc. now owns 6,356 shares of the auto parts company’s stock valued at $269,000 after buying an additional 79 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. grew its stake in BorgWarner by 1.7% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 5,270 shares of the auto parts company’s stock valued at $223,000 after buying an additional 90 shares in the last quarter. Institutional investors own 91.11% of the company’s stock.
A number of research firms recently weighed in on BWA. Barclays PLC set a $46.00 price objective on shares of BorgWarner and gave the company a “hold” rating in a research note on Sunday, August 6th. Zacks Investment Research downgraded shares of BorgWarner from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank AG raised their price target on shares of BorgWarner from $54.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. BMO Capital Markets reissued an “outperform” rating on shares of BorgWarner in a report on Tuesday, September 12th. Finally, BidaskClub downgraded shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $44.00.
In other BorgWarner news, insider Brady D. Ericson sold 11,052 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total value of $501,539.76. Following the transaction, the insider now owns 23,418 shares of the company’s stock, valued at $1,062,708.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tonit M. Calaway sold 3,000 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total transaction of $134,970.00. Following the sale, the executive vice president now directly owns 34,120 shares in the company, valued at approximately $1,535,058.80. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
Shares of BorgWarner Inc. (NYSE BWA) opened at 48.76 on Friday. BorgWarner Inc. has a one year low of $33.09 and a one year high of $49.00. The stock has a market cap of $10.29 billion, a PE ratio of 54.36 and a beta of 1.73. The firm has a 50-day moving average of $45.87 and a 200-day moving average of $43.06.
BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.07. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. BorgWarner’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities research analysts expect that BorgWarner Inc. will post $3.70 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.14 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.15%. BorgWarner’s payout ratio is currently 62.92%.
BorgWarner Company Profile
BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.
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