Seaward Management Limited Partnership Takes Position in BorgWarner Inc. (BWA)
Seaward Management Limited Partnership purchased a new position in shares of BorgWarner Inc. (NYSE:BWA) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,300 shares of the auto parts company’s stock, valued at approximately $220,000.
Other large investors have also recently made changes to their positions in the company. Delta Lloyd Asset Management N.V. acquired a new stake in BorgWarner during the second quarter worth about $1,063,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in BorgWarner by 19.6% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 54,017 shares of the auto parts company’s stock worth $2,288,000 after acquiring an additional 8,844 shares during the last quarter. Kiltearn Partners LLP increased its stake in BorgWarner by 0.9% during the second quarter. Kiltearn Partners LLP now owns 3,152,452 shares of the auto parts company’s stock worth $133,538,000 after acquiring an additional 28,300 shares during the last quarter. Balyasny Asset Management LLC increased its stake in BorgWarner by 117.9% during the second quarter. Balyasny Asset Management LLC now owns 80,020 shares of the auto parts company’s stock worth $3,390,000 after acquiring an additional 43,291 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in BorgWarner by 88.1% during the second quarter. Prudential Financial Inc. now owns 816,422 shares of the auto parts company’s stock worth $34,584,000 after acquiring an additional 382,494 shares during the last quarter. Institutional investors own 92.75% of the company’s stock.
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A number of research firms have recently issued reports on BWA. BMO Capital Markets increased their target price on BorgWarner from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, October 30th. Citigroup Inc. increased their target price on BorgWarner from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Barclays PLC set a $50.00 target price on BorgWarner and gave the company a “hold” rating in a research note on Friday, October 20th. Buckingham Research increased their target price on BorgWarner from $37.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. Finally, UBS AG increased their target price on BorgWarner from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. BorgWarner presently has a consensus rating of “Hold” and an average target price of $47.72.
In related news, EVP Tonit M. Calaway sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total value of $134,970.00. Following the sale, the executive vice president now owns 34,120 shares of the company’s stock, valued at approximately $1,535,058.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.
BorgWarner Inc. (BWA) traded up $0.36 during trading hours on Friday, reaching $52.04. The company’s stock had a trading volume of 1,130,300 shares, compared to its average volume of 1,830,340. The company has a current ratio of 1.43, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. BorgWarner Inc. has a 52 week low of $34.42 and a 52 week high of $53.84. The company has a market cap of $10,960.00, a P/E ratio of 14.08, a PEG ratio of 1.50 and a beta of 1.75.
BorgWarner (NYSE:BWA) last released its earnings results on Thursday, October 26th. The auto parts company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.07. BorgWarner had a return on equity of 21.48% and a net margin of 3.09%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the business posted $0.78 EPS. BorgWarner’s quarterly revenue was up 9.1% compared to the same quarter last year. analysts anticipate that BorgWarner Inc. will post 3.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Thursday, November 30th. This is an increase from BorgWarner’s previous quarterly dividend of $0.14. BorgWarner’s dividend payout ratio (DPR) is currently 40.58%.
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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