Leith Wheeler Investment Counsel Ltd. raised its position in shares of BorgWarner Inc. (NYSE:BWA – Get Rating) by 24.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 117,865 shares of the auto parts company’s stock after purchasing an additional 22,800 shares during the quarter. Leith Wheeler Investment Counsel Ltd.’s holdings in BorgWarner were worth $4,744,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of BWA. Newport Trust Co acquired a new stake in BorgWarner in the 2nd quarter valued at about $59,609,000. Prudential Financial Inc. lifted its holdings in BorgWarner by 300.2% in the 3rd quarter. Prudential Financial Inc. now owns 1,316,105 shares of the auto parts company’s stock valued at $41,327,000 after acquiring an additional 987,274 shares during the last quarter. Invesco Ltd. lifted its holdings in BorgWarner by 24.7% in the 1st quarter. Invesco Ltd. now owns 3,637,381 shares of the auto parts company’s stock valued at $141,495,000 after acquiring an additional 720,690 shares during the last quarter. Vanguard Group Inc. lifted its holdings in BorgWarner by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 26,131,243 shares of the auto parts company’s stock valued at $1,016,505,000 after acquiring an additional 570,039 shares during the last quarter. Finally, Foundry Partners LLC acquired a new stake in BorgWarner in the 3rd quarter valued at about $16,152,000. 91.44% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. Citigroup upped their price target on shares of BorgWarner from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, January 13th. StockNews.com started coverage on BorgWarner in a report on Thursday. They set a “strong-buy” rating on the stock. Wells Fargo & Company boosted their price objective on BorgWarner from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, February 10th. Bank of America downgraded BorgWarner from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $78.00 to $50.00 in a report on Monday, January 9th. Finally, BNP Paribas upgraded BorgWarner from a “neutral” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Wednesday, December 7th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, BorgWarner presently has an average rating of “Moderate Buy” and an average price target of $52.91.
BorgWarner Stock Down 2.6 %
BorgWarner (NYSE:BWA – Get Rating) last issued its earnings results on Thursday, February 9th. The auto parts company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.18. BorgWarner had a return on equity of 14.97% and a net margin of 5.97%. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the company earned $1.06 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts predict that BorgWarner Inc. will post 4.85 EPS for the current fiscal year.
BorgWarner Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $0.68 dividend on an annualized basis and a yield of 1.49%. BorgWarner’s dividend payout ratio is currently 17.00%.
Insider Buying and Selling
In related news, VP Craig Aaron sold 9,638 shares of the stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $48.29, for a total value of $465,419.02. Following the transaction, the vice president now owns 13,435 shares in the company, valued at $648,776.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Craig Aaron sold 9,638 shares of the stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $48.29, for a total value of $465,419.02. Following the transaction, the vice president now owns 13,435 shares in the company, valued at $648,776.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Stefan Demmerle sold 3,000 shares of the stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $51.05, for a total value of $153,150.00. Following the completion of the transaction, the vice president now owns 159,244 shares in the company, valued at approximately $8,129,406.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,707 shares of company stock worth $5,027,503. Insiders own 0.54% of the company’s stock.
BorgWarner Company Profile
BorgWarner, Inc engages in the provision of technology solutions for combustion, hybrid and electric vehicles. It operates through the following segments: Air Management, e-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment develops and manufactures products to improve fuel economy, reduce emissions and enhance performance.
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