Huntington National Bank cut its holdings in BorgWarner Inc. (NYSE:BWA) by 40.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,155 shares of the auto parts company’s stock after selling 3,530 shares during the period. Huntington National Bank’s holdings in BorgWarner were worth $264,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. CENTRAL TRUST Co boosted its holdings in shares of BorgWarner by 5.3% in the 2nd 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 period. Exane Derivatives acquired a new position in shares of BorgWarner in the 2nd quarter valued at about $135,000. Reliance Trust Co. of Delaware acquired a new position in shares of BorgWarner in the 3rd quarter valued at about $213,000. Pacer Advisors Inc. boosted its holdings in shares of BorgWarner by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 4,433 shares of the auto parts company’s stock valued at $188,000 after buying an additional 341 shares during the period. Finally, Obermeyer Wood Investment Counsel Lllp boosted its holdings in shares of BorgWarner by 2.5% in the 2nd quarter. Obermeyer Wood Investment Counsel Lllp now owns 4,921 shares of the auto parts company’s stock valued at $208,000 after buying an additional 121 shares during the period. 92.39% of the stock is owned by institutional investors and hedge funds.
BWA has been the subject of several research reports. ValuEngine lowered shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research raised shares of BorgWarner from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, August 29th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $48.00 price target on shares of BorgWarner in a report on Tuesday, July 4th. Robert W. Baird reaffirmed a “buy” rating and issued a $55.00 price target on shares of BorgWarner in a report on Friday, September 1st. Finally, BidaskClub raised shares of BorgWarner from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $47.72.
In other news, insider Brady D. Ericson sold 11,052 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total transaction of $501,539.76. Following the completion of the transaction, the insider now directly owns 23,418 shares of the company’s stock, valued at approximately $1,062,708.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tonit M. Calaway sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total transaction of $134,970.00. Following the transaction, the executive vice president now directly owns 34,120 shares of the company’s stock, valued at $1,535,058.80. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
Shares of BorgWarner Inc. (NYSE:BWA) opened at 52.39 on Tuesday. The company has a 50 day moving average of $50.94 and a 200-day moving average of $45.40. BorgWarner Inc. has a 12-month low of $33.09 and a 12-month high of $53.84. The company has a market capitalization of $11.06 billion, a P/E ratio of 58.41 and a beta of 1.75.
BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.07. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.26 billion. BorgWarner had a net margin of 3.09% and a return on equity of 21.48%. BorgWarner’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. On average, equities analysts anticipate that BorgWarner Inc. will post $3.78 EPS for the current fiscal year.
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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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