Fisher Asset Management LLC lowered its stake in shares of BorgWarner Inc. (NYSE:BWA) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 202,253 shares of the company’s stock after selling 8,595 shares during the period. Fisher Asset Management LLC’s holdings in BorgWarner were worth $7,115,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in BWA. Harris Associates L P raised its position in BorgWarner by 18.5% in the second quarter. Harris Associates L P now owns 10,074,318 shares of the company’s stock valued at $297,394,000 after buying an additional 1,570,440 shares during the last quarter. Black Creek Investment Management Inc. raised its position in BorgWarner by 286.9% in the second quarter. Black Creek Investment Management Inc. now owns 1,596,059 shares of the company’s stock valued at $47,116,000 after buying an additional 1,183,559 shares during the last quarter. Becker Capital Management Inc. acquired a new position in BorgWarner during the second quarter valued at about $29,462,000. Alliancebernstein L.P. raised its position in BorgWarner by 228.1% in the second quarter. Alliancebernstein L.P. now owns 1,272,430 shares of the company’s stock valued at $37,562,000 after buying an additional 884,591 shares during the last quarter. Finally, DNB Asset Management AS raised its position in BorgWarner by 6,761.8% in the second quarter. DNB Asset Management AS now owns 866,229 shares of the company’s stock valued at $25,571,000 after buying an additional 853,605 shares during the last quarter. Hedge funds and other institutional investors own 86.26% of the company’s stock.
BorgWarner Inc. (NYSE:BWA) traded down 0.81% on Monday, hitting $35.39. 1,620,164 shares of the company were exchanged. The company has a market capitalization of $7.54 billion, a P/E ratio of 14.41 and a beta of 1.75. The firm’s 50 day moving average is $35.06 and its 200 day moving average is $33.79. BorgWarner Inc. has a 52 week low of $27.52 and a 52 week high of $44.35.
BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.01. The business earned $2.21 billion during the quarter, compared to analysts’ expectations of $2.19 billion. BorgWarner had a net margin of 6.01% and a return on equity of 18.50%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the company posted $0.73 earnings per share. On average, equities research analysts forecast that BorgWarner Inc. will post $3.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.57%. This is a boost from BorgWarner’s previous quarterly dividend of $0.13. BorgWarner’s dividend payout ratio (DPR) is currently 21.14%.
Several brokerages recently weighed in on BWA. Goldman Sachs Group Inc. downgraded shares of BorgWarner from a “buy” rating to a “neutral” rating and reduced their price target for the company from $37.00 to $35.00 in a research report on Thursday, October 6th. Bank of America Corp. downgraded shares of BorgWarner from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $39.00 to $29.00 in a research report on Wednesday, November 9th. Robert W. Baird reaffirmed an “outperform” rating and issued a $46.00 target price on shares of BorgWarner in a research report on Wednesday, September 7th. Buckingham Research began coverage on shares of BorgWarner in a research report on Tuesday, August 2nd. They issued a “neutral” rating and a $33.00 target price for the company. Finally, Seaport Global Securities began coverage on shares of BorgWarner in a research report on Tuesday, August 9th. They issued a “neutral” rating for the company. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $37.00.
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.