BorgWarner Inc. (BWA) Position Cut by American International Group Inc.
American International Group Inc. lowered its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 16.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,153 shares of the auto parts company’s stock after selling 11,886 shares during the quarter. American International Group Inc.’s holdings in BorgWarner were worth $3,030,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Rothschild Investment Corp IL purchased a new position in BorgWarner during the 3rd quarter valued at $205,000. Reliance Trust Co. of Delaware purchased a new position in BorgWarner during the 3rd quarter valued at $213,000. Savant Capital LLC purchased a new position in BorgWarner during the 3rd quarter valued at $213,000. Seaward Management Limited Partnership purchased a new position in BorgWarner during the 3rd quarter valued at $220,000. Finally, Pacer Advisors Inc. boosted its holdings in BorgWarner by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 4,433 shares of the auto parts company’s stock valued at $188,000 after acquiring an additional 341 shares during the period. Institutional investors own 94.67% of the company’s stock.
A number of equities analysts recently issued reports on BWA shares. Zacks Investment Research upgraded BorgWarner from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Friday, September 22nd. ValuEngine cut BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Robert W. Baird reaffirmed a “buy” rating and set a $55.00 target price on shares of BorgWarner in a research report on Friday, September 1st. Jefferies Group reaffirmed a “buy” rating and set a $56.00 target price on shares of BorgWarner in a research report on Tuesday, August 29th. Finally, KeyCorp lifted their target price on BorgWarner from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. BorgWarner has a consensus rating of “Hold” and an average price target of $49.67.
BorgWarner Inc. (NYSE BWA) opened at $53.76 on Friday. The company has a market capitalization of $11,317.81, a price-to-earnings ratio of 14.63, a PEG ratio of 1.56 and a beta of 1.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.43 and a quick ratio of 1.10. BorgWarner Inc. has a 1 year low of $37.54 and a 1 year high of $55.86.
BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.07. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.26 billion. BorgWarner had a return on equity of 21.48% and a net margin of 3.09%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS. research analysts anticipate that BorgWarner Inc. will post 3.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.26%. This is a positive change from BorgWarner’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, November 30th. BorgWarner’s payout ratio is presently 49.28%.
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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