Huntington National Bank Has $804,000 Position in BorgWarner Inc. (BWA)
Huntington National Bank decreased its position in shares of BorgWarner Inc. (NYSE:BWA) by 84.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,240 shares of the company’s stock after selling 142,578 shares during the period. Huntington National Bank’s holdings in BorgWarner were worth $804,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of BWA. River & Mercantile Asset Management LLP increased its stake in shares of BorgWarner by 166.7% in the second quarter. River & Mercantile Asset Management LLP now owns 4,000 shares of the company’s stock worth $118,000 after buying an additional 2,500 shares during the last quarter. Washington Trust Bank increased its stake in shares of BorgWarner by 1.4% in the second quarter. Washington Trust Bank now owns 4,054 shares of the company’s stock worth $120,000 after buying an additional 54 shares during the last quarter. JFS Wealth Advisors LLC bought a new stake in shares of BorgWarner during the second quarter worth $130,000. ING Groep NV bought a new stake in shares of BorgWarner during the second quarter worth $227,000. Finally, Commonwealth Equity Services Inc increased its stake in shares of BorgWarner by 48.1% in the first quarter. Commonwealth Equity Services Inc now owns 9,763 shares of the company’s stock worth $375,000 after buying an additional 3,173 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors.
BorgWarner Inc. (NYSE:BWA) traded down 1.52% during mid-day trading on Tuesday, hitting $33.64. The stock had a trading volume of 3,363,001 shares. The firm has a market cap of $7.21 billion, a P/E ratio of 12.17 and a beta of 1.93. BorgWarner Inc. has a 12-month low of $27.52 and a 12-month high of $48.64. The stock has a 50-day moving average price of $34.96 and a 200 day moving average price of $34.00.
BorgWarner (NYSE:BWA) last issued its earnings results on Thursday, July 28th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The business earned $2.33 billion during the quarter, compared to the consensus estimate of $2.33 billion. BorgWarner had a return on equity of 18.50% and a net margin of 7.10%. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. Equities analysts anticipate that BorgWarner Inc. will post $3.25 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research downgraded BorgWarner from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Seaport Global Securities began coverage on BorgWarner in a report on Tuesday, August 9th. They issued a “neutral” rating for the company. Robert W. Baird reissued a “buy” rating on shares of BorgWarner in a report on Tuesday, June 28th. Buckingham Research began coverage on BorgWarner in a report on Tuesday, August 2nd. They issued a “neutral” rating and a $33.00 price target for the company. Finally, Goldman Sachs Group Inc. downgraded BorgWarner from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $37.00 to $35.00 in a report on Thursday, October 6th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. BorgWarner currently has a consensus rating of “Hold” and a consensus target price of $41.36.
In related news, VP Thomas J. Mcgill sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $31.83, for a total value of $159,150.00. Following the completion of the transaction, the vice president now directly owns 31,061 shares of the company’s stock, valued at approximately $988,671.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brady D. Ericson sold 17,132 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were 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 directly owns 25,502 shares of the company’s stock, valued at $859,162.38. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
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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