Baird Financial Group Inc. lessened its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 30.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 84,630 shares of the auto parts company’s stock after selling 36,792 shares during the period. Baird Financial Group Inc.’s holdings in BorgWarner were worth $3,653,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the stock. Signaturefd LLC bought a new position in BorgWarner in the 1st quarter worth about $115,000. Summit Trail Advisors LLC grew its position in BorgWarner by 2,949.9% in the 1st quarter. Summit Trail Advisors LLC now owns 126,937 shares of the auto parts company’s stock worth $127,000 after purchasing an additional 122,775 shares during the last quarter. AdvisorNet Financial Inc grew its position in BorgWarner by 93.0% in the 1st quarter. AdvisorNet Financial Inc now owns 3,049 shares of the auto parts company’s stock worth $153,000 after purchasing an additional 1,469 shares during the last quarter. Cerebellum GP LLC bought a new position in BorgWarner in the 2nd quarter worth about $166,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in BorgWarner in the 1st quarter worth about $173,000. 91.74% of the stock is owned by institutional investors and hedge funds.
BWA stock traded down $1.26 on Friday, hitting $41.70. 2,361,930 shares of the company’s stock traded hands, compared to its average volume of 1,720,672. BorgWarner Inc. has a 1-year low of $41.53 and a 1-year high of $58.22. The firm has a market cap of $8.94 billion, a PE ratio of 10.72, a P/E/G ratio of 1.22 and a beta of 1.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.58 and a quick ratio of 1.23.
BorgWarner (NYSE:BWA) last released its earnings results on Thursday, July 26th. The auto parts company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.10 by $0.08. BorgWarner had a net margin of 5.11% and a return on equity of 22.83%. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the prior year, the business earned $0.96 earnings per share. The business’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts expect that BorgWarner Inc. will post 4.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Tuesday, September 4th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Friday, August 31st. BorgWarner’s dividend payout ratio is presently 17.48%.
Several research analysts have commented on BWA shares. Goldman Sachs Group upgraded shares of BorgWarner from a “neutral” rating to a “buy” rating and upped their target price for the stock from $56.00 to $58.00 in a research report on Monday, June 25th. Buckingham Research decreased their price objective on shares of BorgWarner from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday. Wells Fargo & Co upgraded shares of BorgWarner from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $57.00 to $56.00 in a report on Wednesday, July 18th. BMO Capital Markets set a $60.00 price objective on shares of BorgWarner and gave the company a “buy” rating in a report on Thursday, September 20th. Finally, Royal Bank of Canada decreased their price objective on shares of BorgWarner to $49.00 and set a “positive” rating for the company in a report on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $56.87.
In related news, EVP Tonit M. Calaway sold 4,590 shares of the company’s stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $46.01, for a total value of $211,185.90. Following the completion of the sale, the executive vice president now owns 34,982 shares in the company, valued at approximately $1,609,521.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas J. Mcgill sold 3,260 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $44.55, for a total transaction of $145,233.00. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.
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.
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