BorgWarner Inc. (NYSE:BWA) Stake Maintained by Bowen Hanes & Co. Inc.
Bowen Hanes & Co. Inc. continued to hold its position in shares of BorgWarner Inc. (NYSE:BWA) during the second quarter, Holdings Channel reports. The institutional investor owned 13,025 shares of the auto parts company’s stock at the end of the second quarter. Bowen Hanes & Co. Inc.’s holdings in BorgWarner were worth $552,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Toronto Dominion Bank raised its stake in BorgWarner by 55.5% in the first quarter. Toronto Dominion Bank now owns 54,501 shares of the auto parts company’s stock worth $2,277,000 after buying an additional 19,447 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in BorgWarner during the fourth quarter worth $573,000. Black Creek Investment Management Inc. raised its stake in BorgWarner by 20.5% in the first quarter. Black Creek Investment Management Inc. now owns 2,010,675 shares of the auto parts company’s stock worth $84,026,000 after buying an additional 342,700 shares in the last quarter. Scopus Asset Management L.P. purchased a new stake in BorgWarner during the first quarter worth $4,179,000. Finally, Strs Ohio raised its stake in BorgWarner by 4.2% in the first quarter. Strs Ohio now owns 15,798 shares of the auto parts company’s stock worth $660,000 after buying an additional 631 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.
Shares of BorgWarner Inc. (NYSE:BWA) opened at 46.68 on Monday. The stock’s 50 day moving average is $43.99 and its 200-day moving average is $41.98. The stock has a market cap of $9.85 billion, a P/E ratio of 52.04 and a beta of 1.73. BorgWarner Inc. has a one year low of $32.72 and a one year high of $48.03.
BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.07. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that BorgWarner Inc. will post $3.70 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.20%. BorgWarner’s dividend payout ratio (DPR) is currently 62.92%.
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BWA has been the subject of a number of analyst reports. TheStreet upgraded shares of BorgWarner from a “c+” rating to a “b” rating in a research note on Monday, May 1st. Zacks Investment Research upgraded shares of BorgWarner from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Monday, May 22nd. Jefferies Group LLC restated a “buy” rating and set a $50.00 price objective (up from $48.00) on shares of BorgWarner in a research note on Saturday, April 29th. Deutsche Bank AG raised their price objective on shares of BorgWarner from $51.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Finally, ValuEngine lowered shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $42.13.
In other news, 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 transaction, the director now owns 13,398 shares in the company, valued at $590,315.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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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