Kornitzer Capital Management Inc. KS lifted its position in shares of BorgWarner Inc. (NYSE:BWA) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,835 shares of the auto parts company’s stock after acquiring an additional 1,730 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in BorgWarner were worth $3,662,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of BWA. Diamond Hill Capital Management Inc. increased its stake in shares of BorgWarner by 21.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 12,104,013 shares of the auto parts company’s stock worth $443,975,000 after acquiring an additional 2,116,861 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in BorgWarner by 95.5% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 2,149,267 shares of the auto parts company’s stock worth $90,226,000 after buying an additional 1,049,785 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in BorgWarner by 16.0% during the second quarter. Victory Capital Management Inc. now owns 5,984,092 shares of the auto parts company’s stock worth $251,212,000 after buying an additional 824,302 shares in the last quarter. Invesco Ltd. boosted its holdings in BorgWarner by 41.2% during the second quarter. Invesco Ltd. now owns 2,760,862 shares of the auto parts company’s stock worth $115,901,000 after buying an additional 805,905 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in BorgWarner during the second quarter worth about $25,429,000. Institutional investors and hedge funds own 90.68% of the company’s stock.
A number of analysts recently commented on the stock. ValuEngine raised shares of BorgWarner from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Citigroup decreased their price objective on shares of BorgWarner from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Guggenheim assumed coverage on shares of BorgWarner in a report on Tuesday, October 15th. They set a “neutral” rating on the stock. Zacks Investment Research downgraded shares of BorgWarner from a “hold” rating to a “sell” rating and set a $39.00 price objective on the stock. in a report on Friday, September 27th. Finally, TheStreet raised shares of BorgWarner from a “c+” rating to a “b-” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $45.33.
BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, October 31st. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.11. BorgWarner had a net margin of 7.43% and a return on equity of 19.43%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts expect that BorgWarner Inc. will post 3.92 EPS for the current fiscal year.
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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