Horan Capital Management cut its position in shares of BorgWarner Inc. (NYSE:BWA) by 15.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,846 shares of the auto parts company’s stock after selling 6,033 shares during the period. Horan Capital Management’s holdings in BorgWarner were worth $1,433,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of BWA. BlackRock Inc. raised its stake in 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 last quarter. Pioneer Investment Management Inc. raised its position in shares of BorgWarner by 56.7% in the first quarter. Pioneer Investment Management Inc. now owns 3,288,289 shares of the auto parts company’s stock worth $137,417,000 after buying an additional 1,190,369 shares in the last quarter. Vanguard Group Inc. raised its position in shares of 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 in the last quarter. Dimensional Fund Advisors LP raised its position in shares of BorgWarner by 24.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,565,948 shares of the auto parts company’s stock worth $107,231,000 after buying an additional 496,065 shares in the last quarter. Finally, Minneapolis Portfolio Management Group LLC acquired a new position in shares of BorgWarner during the first quarter worth $18,443,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BorgWarner Inc. (NYSE:BWA) opened at 44.66 on Friday. The stock’s 50 day moving average price is $44.93 and its 200-day moving average price is $42.29. BorgWarner Inc. has a 12-month low of $33.09 and a 12-month high of $48.03. The company has a market cap of $9.43 billion, a PE ratio of 49.79 and a beta of 1.73.
BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the company posted $0.84 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast 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 given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.56 annualized dividend and a yield of 1.25%. BorgWarner’s dividend payout ratio is presently 62.92%.
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A number of research analysts have weighed in on the company. Deutsche Bank AG increased their price target on BorgWarner from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays PLC set a $46.00 price objective on BorgWarner and gave the stock a “hold” rating in a report on Sunday, August 6th. BMO Capital Markets restated an “outperform” rating and set a $55.00 price objective (up from $50.00) on shares of BorgWarner in a report on Friday, July 28th. BidaskClub downgraded BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Zacks Investment Research upgraded BorgWarner from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $42.67.
In related news, Director Dennis C. Cuneo sold 1,000 shares of BorgWarner stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $44.06, for a total transaction of $44,060.00. Following the sale, the director now directly owns 13,398 shares in the company, valued at approximately $590,315.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by company insiders.
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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