Trade Report: The ING Groep NV Invests $227,000 in BorgWarner Inc. (BWA)

The ING Groep NV Invests $227,000 in BorgWarner Inc. (BWA)

ING Groep NV purchased a new position in BorgWarner Inc. (NYSE:BWA) during the second quarter, according to its most recent disclosure with the SEC. The fund purchased 7,706 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC increased its position in BorgWarner by 3.6% in the second quarter. Essex Investment Management Co. LLC now owns 28,453 shares of the company’s stock worth $840,000 after buying an additional 1,000 shares during the period. Strs Ohio increased its position in BorgWarner by 100.2% in the second quarter. Strs Ohio now owns 17,670 shares of the company’s stock valued at $521,000 after buying an additional 8,844 shares during the period. Douglas Lane & Associates LLC increased its position in BorgWarner by 6.5% in the second quarter. Douglas Lane & Associates LLC now owns 1,518,337 shares of the company’s stock valued at $44,821,000 after buying an additional 93,270 shares during the period. JFS Wealth Advisors LLC bought a new position in BorgWarner during the second quarter valued at $130,000. Finally, Bank of Montreal Can bought a new position in BorgWarner during the second quarter valued at $2,261,000. Hedge funds and other institutional investors own 88.29% of the company’s stock.

Shares of BorgWarner Inc. (NYSE:BWA) traded up 0.38% during midday trading on Friday, reaching $34.67. The company’s stock had a trading volume of 1,814,229 shares. The stock has a market capitalization of $7.43 billion, a PE ratio of 12.54 and a beta of 1.93. BorgWarner Inc. has a 52 week low of $27.52 and a 52 week high of $48.64. The company has a 50 day moving average price of $34.96 and a 200-day moving average price of $34.11.

BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, July 28th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. BorgWarner had a net margin of 7.10% and a return on equity of 18.50%. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the company posted $0.75 EPS. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities research analysts expect that BorgWarner Inc. will post $3.25 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, August 30th. BorgWarner’s payout ratio is currently 18.77%.

BWA has been the topic of several analyst reports. Bank of America Corp. downgraded BorgWarner from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. Goldman Sachs Group Inc. downgraded BorgWarner from a “buy” rating to a “neutral” rating and lowered their target price for the company from $37.00 to $35.00 in a research report on Thursday, October 6th. Robert W. Baird reiterated an “outperform” rating and set a $46.00 target price on shares of BorgWarner in a research report on Wednesday, September 7th. Buckingham Research initiated coverage on BorgWarner in a research report on Tuesday, August 2nd. They set a “neutral” rating and a $33.00 target price on the stock. Finally, Seaport Global Securities initiated coverage on BorgWarner in a research report on Tuesday, August 9th. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $41.36.

In other news, VP Brady D. Ericson sold 16,240 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $33.77, for a total transaction of $548,424.80. Following the sale, the vice president now directly owns 70,156 shares of the company’s stock, valued at approximately $2,369,168.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Brady D. Ericson sold 17,132 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $33.69, for a total transaction of $577,177.08. Following the sale, the vice president now directly owns 25,502 shares in the company, valued at $859,162.38. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

BorgWarner Company Profile

BorgWarner Inc is a supplier of engineered automotive systems and components for powertrain applications. The Company operates through two segments: Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Drivetrain segment’s products include transmission components and systems, all-wheel drive (AWD) torque transfer systems and rotating electrical devices.

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