Wedge Capital Management L L P NC lowered its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 1.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 333,582 shares of the auto parts company’s stock after selling 3,744 shares during the period. Wedge Capital Management L L P NC owned 0.16% of BorgWarner worth $14,004,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Mason Street Advisors LLC lifted its position in BorgWarner by 0.9% during the first quarter. Mason Street Advisors LLC now owns 29,631 shares of the auto parts company’s stock worth $1,138,000 after acquiring an additional 267 shares during the last quarter. State Treasurer State of Michigan lifted its position in BorgWarner by 0.5% during the first quarter. State Treasurer State of Michigan now owns 59,896 shares of the auto parts company’s stock worth $2,301,000 after acquiring an additional 300 shares during the last quarter. SeaCrest Wealth Management LLC lifted its position in BorgWarner by 3.6% during the second quarter. SeaCrest Wealth Management LLC now owns 8,661 shares of the auto parts company’s stock worth $364,000 after acquiring an additional 302 shares during the last quarter. Advisor Partners LLC lifted its position in BorgWarner by 3.0% during the first quarter. Advisor Partners LLC now owns 11,667 shares of the auto parts company’s stock worth $448,000 after acquiring an additional 337 shares during the last quarter. Finally, Regentatlantic Capital LLC lifted its position in BorgWarner by 5.9% during the first quarter. Regentatlantic Capital LLC now owns 6,867 shares of the auto parts company’s stock worth $264,000 after acquiring an additional 385 shares during the last quarter. Institutional investors and hedge funds own 89.51% of the company’s stock.
Several equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of BorgWarner from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Credit Suisse Group cut their price objective on shares of BorgWarner from $50.00 to $47.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Bank of America restated a “neutral” rating and set a $46.00 price objective (up from $42.00) on shares of BorgWarner in a research report on Tuesday, April 23rd. Cowen set a $47.00 price objective on shares of BorgWarner and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Barclays restated a “buy” rating and set a $44.00 price objective on shares of BorgWarner in a research report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $46.93.
BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, July 25th. The auto parts company reported $1.00 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.00. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.52 billion. BorgWarner had a net margin of 7.53% and a return on equity of 20.13%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the firm posted $1.18 earnings per share. Sell-side analysts expect that BorgWarner Inc. will post 3.88 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a $0.17 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.18%. BorgWarner’s dividend payout ratio (DPR) is 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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