Harel Insurance Investments & Financial Services Ltd. Maintains Stake in BorgWarner Inc. (BWA)
Harel Insurance Investments & Financial Services Ltd. held its position in shares of BorgWarner Inc. (NYSE:BWA) during the second quarter, Holdings Channel reports. The firm owned 2,705 shares of the auto parts company’s stock at the end of the second quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in BorgWarner were worth $115,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Teachers Advisors LLC boosted its stake in shares of BorgWarner by 7.0% in the fourth quarter. Teachers Advisors LLC now owns 282,229 shares of the auto parts company’s stock valued at $11,131,000 after buying an additional 18,579 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of BorgWarner by 56.4% in the fourth quarter. Macquarie Group Ltd. now owns 433,720 shares of the auto parts company’s stock valued at $17,106,000 after buying an additional 156,413 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in shares of BorgWarner by 2.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 172,351 shares of the auto parts company’s stock valued at $7,203,000 after buying an additional 4,053 shares during the last quarter. Creative Planning boosted its stake in shares of BorgWarner by 133.9% in the first quarter. Creative Planning now owns 15,316 shares of the auto parts company’s stock valued at $640,000 after buying an additional 8,769 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in shares of BorgWarner by 2.0% in the first quarter. Gulf International Bank UK Ltd now owns 67,346 shares of the auto parts company’s stock valued at $2,814,000 after buying an additional 1,300 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.
BorgWarner Inc. (NYSE BWA) opened at 44.66 on Friday. BorgWarner Inc. has a 52-week low of $33.09 and a 52-week high of $48.03. The firm’s 50-day moving average price is $44.93 and its 200 day moving average price is $42.29. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 49.79 and a beta of 1.73.
BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.27 billion. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. BorgWarner’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 earnings per share. On average, equities research analysts forecast that BorgWarner Inc. will post $3.70 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Wednesday, August 30th. BorgWarner’s dividend payout ratio is currently 62.92%.
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BWA has been the subject of several analyst reports. TheStreet upgraded BorgWarner from a “c+” rating to a “b” rating in a report on Monday, May 1st. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 price target (up from $48.00) on shares of BorgWarner in a report on Saturday, April 29th. Deutsche Bank AG increased their price target on BorgWarner from $51.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Zacks Investment Research upgraded BorgWarner from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Monday, May 22nd. Finally, ValuEngine cut BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $42.67.
In other BorgWarner news, Director Dennis C. Cuneo sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $44.06, for a total transaction of $44,060.00. Following the sale, the director now owns 13,398 shares in the company, valued at $590,315.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.66% of the company’s stock.
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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