Pictet Asset Management Ltd. lowered its stake in shares of BorgWarner Inc. (NYSE:BWA) by 17.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 115,617 shares of the auto parts company’s stock after selling 24,379 shares during the period. Pictet Asset Management Ltd. owned about 0.05% of BorgWarner worth $4,915,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. CENTRAL TRUST Co boosted its stake in BorgWarner by 5.3% in the second quarter. CENTRAL TRUST Co now owns 2,679 shares of the auto parts company’s stock valued at $114,000 after buying an additional 135 shares during the last quarter. Van ECK Associates Corp boosted its stake in BorgWarner by 6.8% in the first quarter. Van ECK Associates Corp now owns 2,702 shares of the auto parts company’s stock valued at $113,000 after buying an additional 171 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in BorgWarner during the first quarter valued at $105,000. SRS Capital Advisors Inc. boosted its stake in BorgWarner by 13.7% in the first quarter. SRS Capital Advisors Inc. now owns 2,929 shares of the auto parts company’s stock valued at $122,000 after buying an additional 354 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in BorgWarner by 6.4% in the first quarter. Whittier Trust Co. now owns 3,165 shares of the auto parts company’s stock valued at $132,000 after buying an additional 189 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.
BorgWarner Inc. (NYSE:BWA) opened at 44.61 on Friday. The stock’s 50 day moving average is $45.36 and its 200 day moving average is $42.42. BorgWarner Inc. has a 12-month low of $33.09 and a 12-month high of $48.03. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 49.73 and a beta of 1.73.
BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.07. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The firm 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 firm earned $0.84 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts predict that BorgWarner Inc. will post $3.70 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.14 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.26%. BorgWarner’s dividend payout ratio is presently 62.92%.
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Several analysts have weighed in on the company. Barclays PLC set a $46.00 price objective on BorgWarner and gave the company a “hold” rating in a research report on Sunday, August 6th. Deutsche Bank AG lifted their price objective on BorgWarner from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. BidaskClub cut BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research cut BorgWarner from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $55.00 price objective (up from $50.00) on shares of BorgWarner in a research report on Friday, July 28th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. BorgWarner presently has an average rating of “Hold” and a consensus price target of $42.67.
In other news, Director Dennis C. Cuneo sold 1,000 shares of the 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 transaction, the director now directly owns 13,398 shares in the company, 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 currently 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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