Advisors Capital Management LLC Boosts Stake in BorgWarner Inc. (BWA)
Advisors Capital Management LLC boosted its position in shares of BorgWarner Inc. (NYSE:BWA) by 3.1% during the second quarter, Holdings Channel reports. The fund owned 50,279 shares of the auto parts company’s stock after buying an additional 1,525 shares during the period. Advisors Capital Management LLC’s holdings in BorgWarner were worth $2,130,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exane Derivatives purchased a new position in BorgWarner during the second quarter worth about $135,000. B & T Capital Management DBA Alpha Capital Management raised its position in BorgWarner by 5.0% in the second quarter. B & T Capital Management DBA Alpha Capital Management now owns 27,911 shares of the auto parts company’s stock worth $1,182,000 after buying an additional 1,325 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in BorgWarner by 26.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 71,697 shares of the auto parts company’s stock worth $3,037,000 after buying an additional 14,800 shares during the last quarter. CENTRAL TRUST Co raised its position in BorgWarner by 5.3% in the second quarter. CENTRAL TRUST Co now owns 2,679 shares of the auto parts company’s stock worth $114,000 after buying an additional 135 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in BorgWarner by 514.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 34,466 shares of the auto parts company’s stock worth $1,460,000 after buying an additional 28,858 shares during the last quarter. Institutional investors and hedge funds own 91.95% of the company’s stock.
Shares of BorgWarner Inc. (NYSE:BWA) traded up 0.84% during mid-day trading on Wednesday, hitting $46.58. 68,866 shares of the stock traded hands. The firm has a market capitalization of $9.89 billion, a P/E ratio of 69.32 and a beta of 1.72. BorgWarner Inc. has a one year low of $31.49 and a one year high of $46.69. The company’s 50 day moving average is $43.23 and its 200 day moving average is $41.58.
BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, April 27th. The auto parts company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.07. BorgWarner had a net margin of 1.56% and a return on equity of 20.10%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts expect that BorgWarner Inc. will post $3.57 EPS for the current fiscal year.
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A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of BorgWarner from a “sell” rating to a “hold” rating in a research note on Tuesday. Royal Bank Of Canada reiterated a “hold” rating and issued a $44.00 target price on shares of BorgWarner in a research note on Wednesday, July 12th. BidaskClub upgraded shares of BorgWarner from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 target price on shares of BorgWarner in a research note on Tuesday, July 4th. Finally, CLSA assumed coverage on shares of BorgWarner in a research note on Thursday, June 22nd. They issued a “hold” rating and a $45.00 target price on the stock. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. BorgWarner presently has an average rating of “Hold” and a consensus price target of $41.25.
In related news, insider Ronald T. Hundzinski sold 3,776 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $41.53, for a total value of $156,817.28. Following the transaction, the insider now directly owns 141,958 shares in the company, valued at $5,895,515.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis C. Cuneo sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $44.06, for a total transaction of $44,060.00. Following the completion of the transaction, the director now owns 13,398 shares in the company, valued at $590,315.88. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
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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