BorgWarner Inc. (BWA) Stake Lowered by TD Asset Management Inc.

TD Asset Management Inc. decreased its stake in BorgWarner Inc. (NYSE:BWA) by 14.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,680 shares of the auto parts company’s stock after selling 14,207 shares during the period. TD Asset Management Inc.’s holdings in BorgWarner were worth $4,338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rothschild Investment Corp IL acquired a new position in BorgWarner during the third quarter worth about $205,000. Reliance Trust Co. of Delaware acquired a new position in BorgWarner during the third quarter worth about $213,000. Savant Capital LLC acquired a new position in BorgWarner during the third quarter worth about $213,000. Seaward Management Limited Partnership acquired a new position in BorgWarner during the third quarter worth about $220,000. Finally, Pacer Advisors Inc. raised its position in BorgWarner by 8.3% during the second quarter. Pacer Advisors Inc. now owns 4,433 shares of the auto parts company’s stock worth $188,000 after acquiring an additional 341 shares during the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.

BorgWarner Inc. (BWA) opened at $53.05 on Thursday. BorgWarner Inc. has a 12-month low of $37.54 and a 12-month high of $55.86. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.43. The company has a market cap of $11,465.40, a price-to-earnings ratio of 14.82, a PEG ratio of 1.58 and a beta of 1.76.

BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, October 26th. The auto parts company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.07. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.26 billion. BorgWarner had a net margin of 3.09% and a return on equity of 21.48%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 earnings per share. research analysts anticipate that BorgWarner Inc. will post 3.82 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.17 dividend. The ex-dividend date is Thursday, November 30th. This is a boost from BorgWarner’s previous quarterly dividend of $0.14. This represents a $0.68 annualized dividend and a yield of 1.28%. BorgWarner’s dividend payout ratio is currently 49.28%.

A number of brokerages have issued reports on BWA. Oppenheimer started coverage on shares of BorgWarner in a research report on Thursday. They set an “outperform” rating and a $63.00 target price for the company. BMO Capital Markets lifted their price target on shares of BorgWarner from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, October 30th. Citigroup lifted their price target on shares of BorgWarner from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Barclays set a $50.00 price target on shares of BorgWarner and gave the stock a “hold” rating in a report on Friday, October 20th. Finally, Buckingham Research lifted their price target on shares of BorgWarner from $37.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $49.67.

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BorgWarner 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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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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