Trading Report: The Sumitomo Mitsui Asset Management Company LTD decides to keep it stake in BorgWarner Inc. (BWA) to the level of $706,000

The Sumitomo Mitsui Asset Management Company LTD decides to keep it stake in BorgWarner Inc. (BWA) to the level of $706,000

Sumitomo Mitsui Asset Management Company LTD decreased its position in BorgWarner Inc. (NYSE:BWA) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,081 shares of the company’s stock after selling 547 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in BorgWarner were worth $706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. DnB Asset Management AS raised its position in shares of BorgWarner by 22.3% in the third quarter. DnB Asset Management AS now owns 1,059,266 shares of the company’s stock worth $37,265,000 after buying an additional 193,037 shares during the period. Douglas Lane & Associates LLC raised its position in shares of BorgWarner by 11.8% in the third quarter. Douglas Lane & Associates LLC now owns 1,697,809 shares of the company’s stock worth $59,729,000 after buying an additional 179,472 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of BorgWarner during the third quarter worth about $3,988,000. Trillium Asset Management LLC raised its position in shares of BorgWarner by 20.2% in the third quarter. Trillium Asset Management LLC now owns 340,331 shares of the company’s stock worth $11,973,000 after buying an additional 57,265 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of BorgWarner by 2.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 33,658 shares of the company’s stock worth $1,184,000 after buying an additional 858 shares during the period. Institutional investors own 88.25% of the company’s stock.

Shares of BorgWarner Inc. (NYSE:BWA) opened at 35.63 on Monday. The stock’s 50 day moving average price is $34.98 and its 200-day moving average price is $34.04. BorgWarner Inc. has a 12 month low of $27.52 and a 12 month high of $44.35. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 14.51 and a beta of 1.93.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.19 billion. BorgWarner had a return on equity of 18.50% and a net margin of 6.01%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the company earned $0.73 EPS. On average, equities research analysts predict that BorgWarner Inc. will post $3.25 EPS for the current fiscal year.

Several analysts have recently weighed in on the company. Zacks Investment Research lowered BorgWarner from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Goldman Sachs Group Inc. lowered BorgWarner from a “buy” rating to a “neutral” rating and cut their price objective for the company from $37.00 to $35.00 in a report on Thursday, October 6th. Robert W. Baird restated an “outperform” rating and issued a $46.00 price objective on shares of BorgWarner in a report on Wednesday, September 7th. Buckingham Research assumed coverage on BorgWarner in a report on Tuesday, August 2nd. They issued a “neutral” rating and a $33.00 price objective for the company. Finally, Seaport Global Securities assumed coverage on BorgWarner in a report on Tuesday, August 9th. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $38.70.

In other BorgWarner news, VP Brady D. Ericson sold 16,240 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $33.77, for a total value of $548,424.80. Following the transaction, the vice president now directly owns 70,156 shares in the company, valued at approximately $2,369,168.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brady D. Ericson sold 17,132 shares of the stock in a transaction on Friday, August 26th. The shares were sold at an average price of $33.69, for a total value of $577,177.08. Following the completion of the transaction, the vice president now owns 25,502 shares in the company, valued at $859,162.38. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.

About BorgWarner

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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