Sumitomo Mitsui Asset Management Company LTD Has $787,000 Stake in BorgWarner Inc. (NYSE:BWA)
Sumitomo Mitsui Asset Management Company LTD lowered its stake in BorgWarner Inc. (NYSE:BWA) by 9.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 18,583 shares of the auto parts company’s stock after selling 2,042 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in BorgWarner were worth $787,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of BWA. Candriam Luxembourg S.C.A. boosted its stake in BorgWarner by 41.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 13,662 shares of the auto parts company’s stock valued at $571,000 after buying an additional 4,034 shares during the period. Hermes Investment Management Ltd. boosted its stake in BorgWarner by 6.6% in the first quarter. Hermes Investment Management Ltd. now owns 852,700 shares of the auto parts company’s stock valued at $35,634,000 after buying an additional 53,040 shares during the period. State of Alaska Department of Revenue acquired a new stake in BorgWarner during the first quarter valued at about $207,000. Atria Investments LLC boosted its stake in BorgWarner by 0.8% in the first quarter. Atria Investments LLC now owns 5,456 shares of the auto parts company’s stock valued at $228,000 after buying an additional 43 shares during the period. Finally, Capstone Asset Management Co. boosted its stake in BorgWarner by 10.6% in the first quarter. Capstone Asset Management Co. now owns 21,802 shares of the auto parts company’s stock valued at $911,000 after buying an additional 2,090 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.
BorgWarner Inc. (NYSE:BWA) opened at 46.50 on Tuesday. BorgWarner Inc. has a 52 week low of $32.72 and a 52 week high of $48.03. The firm’s 50 day moving average price is $43.99 and its 200-day moving average price is $41.98. The firm has a market cap of $9.81 billion, a PE ratio of 51.84 and a beta of 1.73.
BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the company earned $0.84 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, analysts forecast that BorgWarner Inc. will post $3.70 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, August 30th. BorgWarner’s dividend payout ratio (DPR) is 62.92%.
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A number of research analysts recently weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $55.00 target price (up previously from $50.00) on shares of BorgWarner in a report on Friday, July 28th. Barclays PLC set a $46.00 target price on BorgWarner and gave the company a “hold” rating in a report on Sunday. Zacks Investment Research upgraded BorgWarner from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Royal Bank Of Canada reiterated a “hold” rating and issued a $44.00 target price on shares of BorgWarner in a report on Wednesday, July 12th. Finally, BidaskClub cut BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $42.60.
In other BorgWarner 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 completion of the sale, the director now directly owns 13,398 shares in the company, valued at $590,315.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by corporate insiders.
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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