Renaissance Group LLC trimmed its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,552 shares of the auto parts company’s stock after selling 3,850 shares during the period. Renaissance Group LLC’s holdings in BorgWarner were worth $2,481,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Sentry Investment Management LLC raised its stake in shares of BorgWarner by 0.9% during the 2nd quarter. Sentry Investment Management LLC now owns 13,520 shares of the auto parts company’s stock worth $573,000 after buying an additional 120 shares in the last quarter. Scotia Capital Inc. raised its stake in shares of BorgWarner by 2.6% during the 2nd quarter. Scotia Capital Inc. now owns 12,973 shares of the auto parts company’s stock worth $550,000 after buying an additional 328 shares in the last quarter. Stephens Inc. AR raised its stake in shares of BorgWarner by 20.2% during the 4th quarter. Stephens Inc. AR now owns 5,994 shares of the auto parts company’s stock worth $306,000 after buying an additional 1,008 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of BorgWarner by 0.7% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 173,037 shares of the auto parts company’s stock worth $8,865,000 after buying an additional 1,179 shares in the last quarter. Finally, ETRADE Capital Management LLC raised its stake in shares of BorgWarner by 23.4% during the 3rd quarter. ETRADE Capital Management LLC now owns 6,356 shares of the auto parts company’s stock worth $326,000 after buying an additional 1,207 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on BWA. Wells Fargo & Co increased their target price on BorgWarner from $55.00 to $56.00 and gave the stock a “market perform” rating in a research note on Friday. Royal Bank of Canada raised BorgWarner from a “sector perform” rating to an “outperform” rating in a research note on Friday. ValuEngine raised BorgWarner from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Barclays reissued a “hold” rating and set a $58.00 target price on shares of BorgWarner in a research note on Sunday, January 21st. Finally, Zacks Investment Research downgraded BorgWarner from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $52.59.
BorgWarner (NYSE:BWA) last announced its earnings results on Thursday, February 8th. The auto parts company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.06. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.53 billion. BorgWarner had a return on equity of 21.92% and a net margin of 4.49%. BorgWarner’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. equities analysts predict that BorgWarner Inc. will post 4.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, February 28th. BorgWarner’s dividend payout ratio (DPR) is presently 32.85%.
In other BorgWarner news, VP Joel Wiegert sold 1,400 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $52.35, for a total transaction of $73,290.00. Following the sale, the vice president now owns 16,197 shares in the company, valued at approximately $847,912.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John J. Gasparovic sold 38,409 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $52.60, for a total value of $2,020,313.40. Following the sale, the executive vice president now owns 63,937 shares in the company, valued at approximately $3,363,086.20. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.
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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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