Oppenheimer & Co. Inc. Has $224,000 Stake in BorgWarner Inc. (BWA)
Oppenheimer & Co. Inc. lowered its stake in BorgWarner Inc. (NYSE:BWA) by 50.4% during the second quarter, Holdings Channel reports. The firm owned 7,591 shares of the company’s stock after selling 7,701 shares during the period. Oppenheimer & Co. Inc.’s holdings in BorgWarner were worth $224,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in BWA. Norges Bank acquired a new position in shares of BorgWarner during the fourth quarter worth $118,938,000. JPMorgan Chase & Co. raised its position in shares of BorgWarner by 602.5% in the first quarter. JPMorgan Chase & Co. now owns 1,305,240 shares of the company’s stock worth $50,121,000 after buying an additional 1,119,434 shares in the last quarter. Becker Capital Management Inc. acquired a new position in shares of BorgWarner during the second quarter worth $29,462,000. DNB Asset Management AS raised its position in shares of BorgWarner by 6,761.8% in the second quarter. DNB Asset Management AS now owns 866,229 shares of the company’s stock worth $25,571,000 after buying an additional 853,605 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in shares of BorgWarner during the first quarter worth $24,528,000. Institutional investors and hedge funds own 88.29% of the company’s stock.
BorgWarner Inc. (NYSE:BWA) traded down 0.11% during trading on Friday, hitting $35.06. The stock had a trading volume of 1,054,200 shares. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 12.68 and a beta of 1.93. The firm’s 50 day moving average is $34.36 and its 200 day moving average is $34.24. BorgWarner Inc. has a 1-year low of $27.52 and a 1-year high of $48.64.
BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.02. BorgWarner had a return on equity of 18.50% and a net margin of 7.10%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the previous year, the business earned $0.75 EPS. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, analysts anticipate that BorgWarner Inc. will post $3.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, August 30th. BorgWarner’s dividend payout ratio is presently 18.77%.
A number of research analysts recently weighed in on the company. Robert W. Baird reaffirmed an “outperform” rating and set a $46.00 price objective on shares of BorgWarner in a report on Wednesday, September 7th. Bank of America Corp. lowered BorgWarner from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. TheStreet lowered BorgWarner from a “buy” rating to a “hold” rating in a report on Thursday, June 2nd. Seaport Global Securities began coverage on BorgWarner in a report on Tuesday, August 9th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research raised BorgWarner from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.71.
In related news, VP Brady D. Ericson sold 16,240 shares of BorgWarner stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $33.77, for a total value of $548,424.80. Following the transaction, the vice president now directly owns 70,156 shares in the company, valued at approximately $2,369,168.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brady D. Ericson sold 17,132 shares of BorgWarner stock in a transaction on Friday, August 26th. The stock was sold at an average price of $33.69, for a total value of $577,177.08. Following the completion of the transaction, the vice president now owns 25,502 shares in the company, valued at $859,162.38. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.
BorgWarner Company Profile
BorgWarner Inc is a supplier of engineered automotive systems and components for powertrain applications. The Company operates through two segments: Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Drivetrain segment’s products include transmission components and systems, all-wheel drive (AWD) torque transfer systems and rotating electrical devices.
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