Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 27.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,953 shares of the auto parts company’s stock after acquiring an additional 16,111 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in BorgWarner were worth $2,841,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc boosted its stake in shares of BorgWarner by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 21,712,547 shares of the auto parts company’s stock valued at $928,863,000 after purchasing an additional 522,490 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of BorgWarner by 8.8% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 9,908,522 shares of the auto parts company’s stock valued at $344,222,000 after purchasing an additional 799,436 shares during the last quarter. Harris Associates L P boosted its stake in shares of BorgWarner by 29.8% in the 4th quarter. Harris Associates L P now owns 6,663,643 shares of the auto parts company’s stock valued at $231,495,000 after purchasing an additional 1,530,716 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of BorgWarner by 33.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,635,725 shares of the auto parts company’s stock valued at $283,875,000 after purchasing an additional 1,661,618 shares during the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt boosted its stake in shares of BorgWarner by 9.6% in the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 6,075,000 shares of the auto parts company’s stock valued at $233,341,000 after purchasing an additional 530,000 shares during the last quarter. 90.13% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on BWA. Morgan Stanley set a $48.00 price objective on shares of BorgWarner and gave the company a “buy” rating in a research note on Thursday, May 16th. ValuEngine downgraded shares of BorgWarner from a “sell” rating to a “strong sell” rating in a research report on Monday, May 13th. Zacks Investment Research downgraded shares of BorgWarner from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Bank of America reiterated a “neutral” rating and set a $46.00 target price (up previously from $42.00) on shares of BorgWarner in a research report on Tuesday, April 23rd. Finally, Robert W. Baird upgraded shares of BorgWarner to a “top pick” rating in a research report on Friday, February 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. BorgWarner has an average rating of “Buy” and an average price target of $48.75.
Shares of BorgWarner stock traded down $0.35 during trading on Wednesday, reaching $36.09. 1,721,649 shares of the company traded hands, compared to its average volume of 1,665,927. The company has a quick ratio of 1.27, a current ratio of 1.62 and a debt-to-equity ratio of 0.44. BorgWarner Inc. has a 1-year low of $32.46 and a 1-year high of $51.00. The company has a market capitalization of $7.41 billion, a PE ratio of 8.06, a PEG ratio of 1.09 and a beta of 1.74.
BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, April 25th. The auto parts company reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.06. BorgWarner had a net margin of 8.39% and a return on equity of 21.64%. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. The business’s revenue was down 7.8% on a year-over-year basis. Sell-side analysts expect that BorgWarner Inc. will post 4.23 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.68 annualized dividend and a yield of 1.88%. BorgWarner’s payout ratio is 15.18%.
In other BorgWarner news, VP Joel Wiegert sold 6,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $38.74, for a total transaction of $232,440.00. Following the transaction, the vice president now owns 27,420 shares in the company, valued at $1,062,250.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas T. Stallkamp sold 3,124 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $42.00, for a total transaction of $131,208.00. Following the transaction, the director now owns 4,033 shares in the company, valued at approximately $169,386. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
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BorgWarner Company Profile
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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