BlackRock Inc. trimmed its position in BorgWarner Inc. (NYSE:BWA) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,046,421 shares of the auto parts company’s stock after selling 44,161 shares during the quarter. BlackRock Inc. owned approximately 6.18% of BorgWarner worth $552,646,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc raised its stake in BorgWarner by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 19,211 shares of the auto parts company’s stock worth $814,000 after acquiring an additional 61 shares in the last quarter. Hanson & Doremus Investment Management raised its stake in BorgWarner by 0.9% during the 2nd quarter. Hanson & Doremus Investment Management now owns 8,895 shares of the auto parts company’s stock worth $377,000 after acquiring an additional 75 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in BorgWarner by 0.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 18,846 shares of the auto parts company’s stock worth $788,000 after acquiring an additional 77 shares in the last quarter. Contravisory Investment Management Inc. raised its stake in BorgWarner by 1.3% during the 2nd quarter. Contravisory Investment Management Inc. now owns 6,356 shares of the auto parts company’s stock worth $269,000 after acquiring an additional 79 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. raised its stake in BorgWarner by 1.7% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 5,270 shares of the auto parts company’s stock worth $223,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 91.09% of the company’s stock.

Shares of BorgWarner Inc. (NYSE:BWA) opened at 49.96 on Friday. The stock has a 50 day moving average of $46.01 and a 200 day moving average of $43.15. BorgWarner Inc. has a one year low of $33.09 and a one year high of $50.18. The stock has a market cap of $10.54 billion, a P/E ratio of 55.70 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 EPS for the quarter, topping the consensus estimate of $0.89 by $0.07. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.27 billion. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. Equities analysts expect that BorgWarner Inc. will post $3.70 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.12%. BorgWarner’s dividend payout ratio is currently 62.92%.

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In other news, EVP Tonit M. Calaway sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $44.99, for a total transaction of $134,970.00. Following the completion of the transaction, the executive vice president now owns 34,120 shares in the company, valued at $1,535,058.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brady D. Ericson sold 11,052 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $45.38, for a total transaction of $501,539.76. Following the transaction, the insider now owns 23,418 shares of the company’s stock, valued at approximately $1,062,708.84. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

BWA has been the topic of several research analyst reports. Zacks Investment Research lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 price target on shares of BorgWarner in a research note on Wednesday, May 31st. Deutsche Bank AG reiterated a “buy” rating and set a $54.00 price target on shares of BorgWarner in a research note on Wednesday, May 31st. ValuEngine lowered shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Morgan Stanley cut their price target on shares of BorgWarner from $34.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, June 9th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. BorgWarner presently has a consensus rating of “Hold” and a consensus target price of $44.20.

BorgWarner 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.

Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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