Bank of New York Mellon Corp Cuts Stake in BorgWarner Inc. (BWA)
Bank of New York Mellon Corp lowered its position in BorgWarner Inc. (NYSE:BWA) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,954,027 shares of the auto parts company’s stock after selling 63,813 shares during the period. Bank of New York Mellon Corp owned 0.93% of BorgWarner worth $82,772,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. CENTRAL TRUST Co raised its position in BorgWarner by 5.3% in the second quarter. CENTRAL TRUST Co now owns 2,679 shares of the auto parts company’s stock worth $114,000 after buying an additional 135 shares in the last quarter. Van ECK Associates Corp raised its position in BorgWarner by 6.8% in the first quarter. Van ECK Associates Corp now owns 2,702 shares of the auto parts company’s stock worth $113,000 after buying an additional 171 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in BorgWarner during the first quarter worth about $105,000. SRS Capital Advisors Inc. raised its position in BorgWarner by 13.7% in the first quarter. SRS Capital Advisors Inc. now owns 2,929 shares of the auto parts company’s stock worth $122,000 after buying an additional 354 shares in the last quarter. Finally, Whittier Trust Co. raised its position in BorgWarner by 6.4% in the first quarter. Whittier Trust Co. now owns 3,165 shares of the auto parts company’s stock worth $132,000 after buying an additional 189 shares in the last quarter. 91.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BorgWarner Inc. (NYSE BWA) opened at 44.16 on Monday. The firm has a market capitalization of $9.32 billion, a P/E ratio of 49.23 and a beta of 1.73. BorgWarner Inc. has a 52-week low of $33.09 and a 52-week high of $48.03. The stock’s 50 day moving average is $45.61 and its 200-day moving average is $42.58.
BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.07. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.27 billion. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS. On average, equities analysts forecast that BorgWarner Inc. will post $3.70 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, August 30th. BorgWarner’s payout ratio is presently 62.92%.
A number of research firms recently issued reports on BWA. Zacks Investment Research raised BorgWarner from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, August 22nd. Barclays PLC set a $46.00 price target on BorgWarner and gave the stock a “hold” rating in a report on Sunday, August 6th. Deutsche Bank AG raised their price target on BorgWarner from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. BidaskClub lowered BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Bank of America Corporation reissued an “underperform” rating and set a $27.00 price target (down previously from $30.00) on shares of BorgWarner in a report on Friday, June 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. BorgWarner has a consensus rating of “Hold” and an average target price of $42.67.
In other BorgWarner news, insider Brady D. Ericson sold 11,052 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total value of $501,539.76. Following the completion of the sale, the insider now owns 23,418 shares in the company, valued at approximately $1,062,708.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis C. Cuneo sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $44.06, for a total transaction of $44,060.00. Following the completion of the sale, the director now owns 13,398 shares of the company’s stock, valued at approximately $590,315.88. The disclosure for this sale can be found here. Insiders sold a total of 15,052 shares of company stock valued at $680,570 in the last 90 days. Corporate insiders own 0.66% of the company’s stock.
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.
Want to see what other hedge funds are holding BWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BorgWarner Inc. (NYSE:BWA).
Receive News & Ratings for BorgWarner Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BorgWarner Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.