Perigon Wealth Management LLC Reduces Stake in BorgWarner Inc. (BWA)
Perigon Wealth Management LLC lowered its position in shares of BorgWarner Inc. (NYSE:BWA) by 62.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,215 shares of the auto parts company’s stock after selling 5,443 shares during the quarter. Perigon Wealth Management LLC’s holdings in BorgWarner were worth $136,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of BWA. CENTRAL TRUST Co lifted its holdings in shares of BorgWarner by 5.3% during 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 in the last quarter. Exane Derivatives acquired a new stake in shares of BorgWarner during the second quarter worth $135,000. Global X Management Co. LLC lifted its holdings in shares of BorgWarner by 29.9% during the first quarter. Global X Management Co. LLC now owns 3,694 shares of the auto parts company’s stock worth $154,000 after buying an additional 851 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of BorgWarner by 8.3% during the second quarter. Pacer Advisors Inc. now owns 4,433 shares of the auto parts company’s stock worth $188,000 after buying an additional 341 shares in the last quarter. Finally, Obermeyer Wood Investment Counsel Lllp lifted its holdings in shares of BorgWarner by 2.5% during the second quarter. Obermeyer Wood Investment Counsel Lllp now owns 4,921 shares of the auto parts company’s stock worth $208,000 after buying an additional 121 shares in the last quarter. 91.06% of the stock is owned by institutional investors.
In other news, EVP Tonit M. Calaway sold 3,000 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total transaction of $134,970.00. Following the transaction, the executive vice president now directly owns 34,120 shares in the company, valued at approximately $1,535,058.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brady D. Ericson sold 11,052 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total value of $501,539.76. Following the transaction, the insider now owns 23,418 shares in the company, valued at $1,062,708.84. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.
Shares of BorgWarner Inc. (BWA) opened at 52.20 on Friday. BorgWarner Inc. has a 52 week low of $33.09 and a 52 week high of $52.77. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of 58.19 and a beta of 1.76. The stock’s 50 day moving average price is $50.00 and its 200-day moving average price is $44.68.
BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.89 by $0.07. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.27 billion. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 EPS. Equities analysts predict that BorgWarner Inc. will post $3.71 earnings per share for the current year.
A number of brokerages recently commented on BWA. Zacks Investment Research upgraded BorgWarner from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, August 22nd. Deutsche Bank AG raised their price target on BorgWarner from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. BidaskClub cut BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Jefferies Group LLC restated a “buy” rating and issued a $48.00 price target on shares of BorgWarner in a research report on Tuesday, July 4th. Finally, Robert W. Baird restated a “buy” rating and issued a $55.00 price target on shares of BorgWarner in a research report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $46.76.
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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