Louisiana State Employees Retirement System boosted its stake in shares of BorgWarner Inc. (NYSE:BWA) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 12,400 shares of the auto parts company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in BorgWarner were worth $525,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC increased its position in BorgWarner by 1.3% in the first quarter. Janney Montgomery Scott LLC now owns 20,573 shares of the auto parts company’s stock valued at $860,000 after buying an additional 257 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management increased its position in BorgWarner by 1.8% in the first quarter. B & T Capital Management DBA Alpha Capital Management now owns 26,586 shares of the auto parts company’s stock valued at $1,111,000 after buying an additional 475 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in BorgWarner by 41.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 13,662 shares of the auto parts company’s stock valued at $571,000 after buying an additional 4,034 shares in the last quarter. Hermes Investment Management Ltd. increased its position in BorgWarner by 6.6% in the first quarter. Hermes Investment Management Ltd. now owns 852,700 shares of the auto parts company’s stock valued at $35,634,000 after buying an additional 53,040 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in BorgWarner during the first quarter valued at approximately $207,000. 92.06% of the stock is owned by hedge funds and other institutional investors.
BorgWarner Inc. (NYSE:BWA) traded up 0.02% during trading on Friday, hitting $44.91. The stock had a trading volume of 545,581 shares. BorgWarner Inc. has a one year low of $33.09 and a one year high of $48.03. The stock’s 50-day moving average is $44.82 and its 200 day moving average is $42.26. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 50.07 and a beta of 1.73.
BorgWarner (NYSE:BWA) last released its earnings results on Thursday, July 27th. The auto parts company reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.07. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.27 billion. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. Equities analysts anticipate that BorgWarner Inc. will post $3.70 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.14 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.56 annualized dividend and a yield of 1.25%. BorgWarner’s payout ratio is currently 62.92%.
Several analysts have issued reports on BWA shares. BMO Capital Markets restated an “outperform” rating and issued a $55.00 target price (up from $50.00) on shares of BorgWarner in a report on Friday, July 28th. Barclays PLC set a $46.00 target price on BorgWarner and gave the company a “hold” rating in a report on Sunday, August 6th. Deutsche Bank AG upped their target price on BorgWarner from $54.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded BorgWarner from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $44.00 target price on shares of BorgWarner in a report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. BorgWarner currently has a consensus rating of “Hold” and an average price target of $42.67.
In other BorgWarner news, Director Dennis C. Cuneo sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was 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 $590,315.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.
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