Reinhart Partners Inc. Lowers Stake in BorgWarner Inc. (BWA)
Reinhart Partners Inc. cut its holdings in BorgWarner Inc. (NYSE:BWA) by 18.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 330,503 shares of the auto parts company’s stock after selling 74,990 shares during the quarter. Reinhart Partners Inc.’s holdings in BorgWarner were worth $16,885,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in shares of BorgWarner by 47.1% in the fourth quarter. State of Alaska Department of Revenue now owns 39,026 shares of the auto parts company’s stock valued at $1,991,000 after buying an additional 12,500 shares in the last quarter. Fox Run Management L.L.C. bought a new position in BorgWarner in the fourth quarter valued at about $720,000. Alpha Windward LLC bought a new position in BorgWarner in the fourth quarter valued at about $497,000. Westpac Banking Corp boosted its holdings in BorgWarner by 3.7% in the fourth quarter. Westpac Banking Corp now owns 96,698 shares of the auto parts company’s stock valued at $4,940,000 after acquiring an additional 3,467 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in BorgWarner by 1.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 999,556 shares of the auto parts company’s stock valued at $51,068,000 after acquiring an additional 12,348 shares during the last quarter. Institutional investors own 95.02% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded BorgWarner from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Tuesday, December 26th. Deutsche Bank cut BorgWarner from a “buy” rating to a “hold” rating and set a $55.00 target price on the stock. in a report on Thursday, October 12th. Citigroup raised their target price on BorgWarner from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Royal Bank of Canada restated a “hold” rating and set a $61.00 target price on shares of BorgWarner in a report on Wednesday, December 20th. Finally, Oppenheimer assumed coverage on BorgWarner in a report on Thursday, December 7th. They set an “outperform” rating and a $63.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.38.
Shares of BorgWarner Inc. (NYSE:BWA) traded down $0.17 during trading on Monday, reaching $56.94. The company had a trading volume of 959,100 shares, compared to its average volume of 1,553,592. BorgWarner Inc. has a 1-year low of $37.54 and a 1-year high of $58.22. The firm has a market cap of $11,890.00, a price-to-earnings ratio of 41.26, a PEG ratio of 1.57 and a beta of 1.76. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.43.
BorgWarner (NYSE:BWA) last announced its earnings results on Thursday, October 26th. The auto parts company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.07. BorgWarner had a return on equity of 21.48% and a net margin of 3.09%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the firm earned $0.78 EPS. BorgWarner’s revenue for the quarter was up 9.1% compared to the same quarter last year. analysts anticipate that BorgWarner Inc. will post 3.83 EPS for the current fiscal year.
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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