Pictet & Cie Europe SA acquired a new position in shares of BorgWarner Inc. (NYSE:BWA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,800 shares of the company’s stock, valued at approximately $310,000.
Other large investors have also recently made changes to their positions in the company. Hermes Investment Management Ltd. boosted its stake in shares of BorgWarner by 22.0% in the second quarter. Hermes Investment Management Ltd. now owns 448,260 shares of the company’s stock valued at $13,233,000 after buying an additional 80,776 shares in the last quarter. Douglas Lane & Associates LLC raised its position in shares of 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 last quarter. Becker Capital Management Inc. acquired a new position in shares of BorgWarner during the second quarter valued at approximately $29,462,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of BorgWarner by 29.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 961,849 shares of the company’s stock valued at $28,394,000 after buying an additional 219,118 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK raised its position in shares of BorgWarner by 14.2% in the second quarter. Aberdeen Asset Management PLC UK now owns 882,064 shares of the company’s stock valued at $26,039,000 after buying an additional 109,380 shares during the last quarter. Institutional investors and hedge funds own 86.26% of the company’s stock.
BorgWarner Inc. (NYSE:BWA) opened at 35.68 on Monday. The stock has a 50 day moving average price of $35.06 and a 200 day moving average price of $33.79. BorgWarner Inc. has a 52-week low of $27.52 and a 52-week high of $44.35. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of 14.53 and a beta of 1.75.
BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.77 by $0.01. The firm earned $2.21 billion during the quarter, compared to analysts’ expectations of $2.19 billion. BorgWarner had a return on equity of 18.50% and a net margin of 6.01%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 earnings per share. On average, equities analysts expect that BorgWarner Inc. will post $3.26 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be paid a dividend of $0.14 per share. This is a boost from BorgWarner’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, November 29th. This represents a $0.56 annualized dividend and a yield of 1.57%. BorgWarner’s dividend payout ratio (DPR) is 21.14%.
BWA has been the subject of several recent analyst reports. Seaport Global Securities initiated coverage on BorgWarner in a report on Tuesday, August 9th. They set a “neutral” rating for the company. Zacks Investment Research raised BorgWarner from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Berenberg Bank started coverage on BorgWarner in a research note on Tuesday, November 22nd. They set a “sell” rating and a $28.00 target price on the stock. Bank of America Corp. downgraded BorgWarner from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $39.00 to $29.00 in a research note on Wednesday, November 9th. Finally, Buckingham Research started coverage on BorgWarner in a research note on Tuesday, August 2nd. They issued a “neutral” rating and a $33.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $37.00.
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.