Engineers Gate Manager LP Buys 64,108 Shares of BorgWarner Inc. (BWA)

Engineers Gate Manager LP grew its stake in BorgWarner Inc. (NYSE:BWA) by 136.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,188 shares of the auto parts company’s stock after acquiring an additional 64,108 shares during the quarter. Engineers Gate Manager LP owned about 0.05% of BorgWarner worth $4,757,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BWA. CIBC World Markets Inc. purchased a new stake in shares of BorgWarner in the first quarter valued at $210,000. Allianz Asset Management GmbH increased its stake in BorgWarner by 72.4% in the first quarter. Allianz Asset Management GmbH now owns 165,471 shares of the auto parts company’s stock valued at $8,312,000 after purchasing an additional 69,483 shares during the last quarter. Cerebellum GP LLC acquired a new position in BorgWarner in the second quarter valued at $166,000. Clinton Group Inc. acquired a new position in BorgWarner in the second quarter valued at $2,215,000. Finally, IFM Investors Pty Ltd increased its stake in BorgWarner by 41.5% in the second quarter. IFM Investors Pty Ltd now owns 10,821 shares of the auto parts company’s stock valued at $467,000 after purchasing an additional 3,174 shares during the last quarter. Institutional investors and hedge funds own 91.65% of the company’s stock.

Several equities analysts recently commented on the company. Wells Fargo & Co upgraded BorgWarner from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $57.00 to $56.00 in a research note on Wednesday, July 18th. Citigroup dropped their target price on BorgWarner from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, July 30th. Wolfe Research assumed coverage on BorgWarner in a research note on Tuesday, October 2nd. They issued an “outperform” rating for the company. Bank of America upgraded BorgWarner from an “underperform” rating to a “neutral” rating and set a $45.00 target price for the company in a research note on Tuesday, October 23rd. Finally, BMO Capital Markets set a $60.00 target price on BorgWarner and gave the company a “buy” rating in a research note on Thursday, September 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. BorgWarner has an average rating of “Buy” and an average target price of $54.38.

Shares of NYSE:BWA opened at $40.38 on Friday. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 1.37 and a beta of 1.81. The company has a quick ratio of 1.28, a current ratio of 1.66 and a debt-to-equity ratio of 0.50. BorgWarner Inc. has a 12 month low of $35.71 and a 12 month high of $58.22.

BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, October 25th. The auto parts company reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.01. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.45 billion. BorgWarner had a return on equity of 22.68% and a net margin of 5.26%. Research analysts predict that BorgWarner Inc. will post 4.37 EPS for the current fiscal year.

In other BorgWarner news, insider Brady D. Ericson sold 16,780 shares of the company’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $39.70, for a total transaction of $666,166.00. Following the completion of the sale, the insider now directly owns 18,089 shares in the company, valued at $718,133.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas T. Stallkamp sold 7,692 shares of the company’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $39.33, for a total value of $302,526.36. Following the sale, the director now owns 3,000 shares of the company’s stock, valued at $117,990. The disclosure for this sale can be found here. Insiders have sold 28,472 shares of company stock valued at $1,126,972 over the last 90 days. 0.74% of the stock is currently owned by insiders.

BorgWarner Company Profile

BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates through two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; and timing systems, such as timing chains, variable cam timing products, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains for light vehicles, and hybrid power transmission chains.

See Also: Leveraged Buyout (LBO) Explained

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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