Washington Capital Management Inc. continued to hold its stake in BorgWarner Inc. (NYSE:BWA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 quarter.
Other large investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in BorgWarner by 6.7% in the second quarter. Bessemer Group Inc. now owns 10,066 shares of the auto parts company’s stock valued at $427,000 after buying an additional 628 shares during the last quarter. Cambiar Investors LLC boosted its stake in BorgWarner by 2.9% in the second quarter. Cambiar Investors LLC now owns 95,601 shares of the auto parts company’s stock valued at $4,050,000 after buying an additional 2,704 shares during the last quarter. CIBC Asset Management Inc boosted its stake in BorgWarner by 0.3% in the second quarter. CIBC Asset Management Inc now owns 19,211 shares of the auto parts company’s stock valued at $814,000 after buying an additional 61 shares during the last quarter. Bbva Compass Bancshares Inc. boosted its stake in BorgWarner by 1.3% in the second quarter. Bbva Compass Bancshares Inc. now owns 128,091 shares of the auto parts company’s stock valued at $5,426,000 after buying an additional 1,665 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in BorgWarner by 57.3% in the second quarter. Janney Montgomery Scott LLC now owns 32,369 shares of the auto parts company’s stock valued at $1,371,000 after buying an additional 11,796 shares during the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.
BorgWarner Inc. (NYSE BWA) opened at 44.34 on Friday. The firm’s 50-day moving average is $45.45 and its 200 day moving average is $42.44. BorgWarner Inc. has a 1-year low of $33.09 and a 1-year high of $48.03. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 49.43 and a beta of 1.73.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Wednesday, August 30th. BorgWarner’s dividend payout ratio is presently 62.92%.
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A number of research analysts recently weighed in on the stock. Deutsche Bank AG raised their target price on shares of BorgWarner from $54.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Barclays PLC set a $46.00 target price on shares of BorgWarner and gave the company a “hold” rating in a report on Sunday, August 6th. BMO Capital Markets reissued 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. BidaskClub lowered shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Zacks Investment Research raised shares of BorgWarner from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Three investment 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. The company presently has a consensus rating of “Hold” and a consensus target price of $42.67.
In other BorgWarner news, insider Brady D. Ericson sold 11,052 shares of BorgWarner stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $45.38, for a total transaction of $501,539.76. Following the transaction, the insider now owns 23,418 shares of the company’s stock, valued at $1,062,708.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Dennis C. Cuneo sold 1,000 shares of BorgWarner stock in a transaction 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 transaction, the director now directly owns 13,398 shares of the company’s stock, valued at $590,315.88. The disclosure for this sale can be found here. 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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