Washington Capital Management Inc. maintained its position in BorgWarner Inc. (NYSE:BWA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,700 shares of the auto parts company’s stock at the end of the second quarter. Washington Capital Management Inc.’s holdings in BorgWarner were worth $496,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in BorgWarner by 3.2% in the first quarter. Vanguard Group Inc. now owns 20,162,288 shares of the auto parts company’s stock worth $842,583,000 after buying an additional 616,244 shares during the period. BlackRock Inc. raised its position in shares of BorgWarner by 3,228.4% in the first quarter. BlackRock Inc. now owns 13,090,582 shares of the auto parts company’s stock worth $547,056,000 after buying an additional 12,697,279 shares during the period. Boston Partners raised its position in shares of BorgWarner by 3.9% in the first quarter. Boston Partners now owns 10,581,160 shares of the auto parts company’s stock worth $442,187,000 after buying an additional 397,426 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of BorgWarner by 2.1% in the second quarter. Diamond Hill Capital Management Inc. now owns 8,486,663 shares of the auto parts company’s stock worth $359,495,000 after buying an additional 176,245 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of BorgWarner by 1.4% in the first quarter. JPMorgan Chase & Co. now owns 5,408,179 shares of the auto parts company’s stock worth $226,008,000 after buying an additional 76,928 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.
Shares of BorgWarner Inc. (BWA) traded down 0.53% during mid-day trading on Friday, reaching $44.66. The company’s stock had a trading volume of 1,404,950 shares. The company has a market cap of $9.43 billion, a PE ratio of 49.79 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 company has a 50-day moving average price of $44.82 and a 200 day moving average price of $42.26.
BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the firm posted $0.84 EPS. BorgWarner’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities analysts expect that BorgWarner Inc. will post $3.70 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.25%. BorgWarner’s payout ratio is currently 62.92%.
Several research firms have issued reports on BWA. TheStreet upgraded shares of BorgWarner from a “c+” rating to a “b” rating in a report on Monday, May 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $50.00 price objective (up previously from $48.00) on shares of BorgWarner in a research report on Saturday, April 29th. Deutsche Bank AG raised their price objective on shares of BorgWarner from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Zacks Investment Research raised shares of BorgWarner from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Monday, May 22nd. Finally, ValuEngine downgraded shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $42.67.
In related news, Director Dennis C. Cuneo sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $44.06, for a total value 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 legal filing with the SEC, which is available through the SEC website. 0.66% of the stock is owned by corporate insiders.
BorgWarner Company Profile
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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