Prudential Financial Inc. lifted its position in BorgWarner Inc. (NYSE:BWA) by 154.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,076,392 shares of the auto parts company’s stock after purchasing an additional 1,259,970 shares during the period. Prudential Financial Inc. owned 0.98% of BorgWarner worth $106,373,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its stake in shares of BorgWarner by 8.3% during the 2nd 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 in the last quarter. Zeke Capital Advisors LLC acquired a new stake in BorgWarner in the 3rd quarter valued at about $201,000. Dorsey & Whitney Trust CO LLC acquired a new stake in BorgWarner in the 3rd quarter valued at about $202,000. Rothschild Investment Corp IL acquired a new stake in shares of BorgWarner during the 3rd quarter worth approximately $205,000. Finally, Reliance Trust Co. of Delaware acquired a new stake in shares of BorgWarner during the 3rd quarter worth approximately $213,000. Hedge funds and other institutional investors own 95.15% of the company’s stock.
A number of research firms recently weighed in on BWA. Zacks Investment Research raised shares of BorgWarner from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Tuesday, December 26th. Royal Bank of Canada restated a “hold” rating and issued a $61.00 price objective on shares of BorgWarner in a report on Wednesday, December 20th. Oppenheimer began coverage on shares of BorgWarner in a report on Thursday, December 7th. They issued an “outperform” rating and a $63.00 price objective on the stock. 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 research note on Monday, October 30th. Finally, Citigroup lifted their price target on shares of BorgWarner from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $51.12.
BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.07. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.26 billion. BorgWarner had a net margin of 3.09% and a return on equity of 21.48%. BorgWarner’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 earnings per share. equities research analysts expect that BorgWarner Inc. will post 3.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. This is an increase from BorgWarner’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, November 30th. BorgWarner’s dividend payout ratio is 49.28%.
In related news, EVP John J. Gasparovic sold 38,409 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $52.60, for a total value of $2,020,313.40. Following the sale, the executive vice president now owns 63,937 shares of the company’s stock, valued at approximately $3,363,086.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Joel Wiegert sold 1,400 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $52.35, for a total transaction of $73,290.00. Following the transaction, the vice president now directly owns 16,197 shares in the company, valued at approximately $847,912.95. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
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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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