Harel Insurance Investments & Financial Services Ltd. continued to hold its stake in BorgWarner Inc. (NYSE:BWA) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,705 shares of the auto parts company’s stock at the end of the second quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in BorgWarner were worth $115,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of BWA. Vanguard Group Inc. raised its stake in BorgWarner by 3.2% in the first quarter. Vanguard Group Inc. now owns 20,162,288 shares of the auto parts company’s stock valued at $842,583,000 after buying an additional 616,244 shares during the period. BlackRock Inc. raised its stake in BorgWarner by 3,228.4% in the first quarter. BlackRock Inc. now owns 13,090,582 shares of the auto parts company’s stock valued at $547,056,000 after buying an additional 12,697,279 shares during the period. Boston Partners raised its stake in BorgWarner by 2.2% in the second quarter. Boston Partners now owns 10,810,607 shares of the auto parts company’s stock valued at $457,937,000 after buying an additional 229,447 shares during the period. Diamond Hill Capital Management Inc. raised its stake in BorgWarner by 2.1% in the second quarter. Diamond Hill Capital Management Inc. now owns 8,486,663 shares of the auto parts company’s stock valued at $359,495,000 after buying an additional 176,245 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in BorgWarner by 1.4% in the first quarter. JPMorgan Chase & Co. now owns 5,408,179 shares of the auto parts company’s stock valued at $226,008,000 after buying an additional 76,928 shares during the period. 92.06% of the stock is currently owned by institutional investors.
Shares of BorgWarner Inc. (NYSE:BWA) opened at 44.66 on Friday. The company has a market capitalization of $9.43 billion, a price-to-earnings ratio of 49.79 and a beta of 1.73. The company’s 50-day moving average is $44.93 and its 200-day moving average is $42.29. BorgWarner Inc. has a 12-month low of $33.09 and a 12-month high of $48.03.
BorgWarner (NYSE:BWA) last released its earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.07. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the company earned $0.84 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts predict that BorgWarner Inc. will post $3.70 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.25%. BorgWarner’s dividend payout ratio (DPR) is 62.92%.
Several equities analysts recently commented on BWA shares. Morgan Stanley reduced their price objective on shares of BorgWarner from $34.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday, June 9th. Zacks Investment Research raised shares of BorgWarner from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, June 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of BorgWarner in a research note on Tuesday, July 4th. BMO Capital Markets boosted their price objective on shares of BorgWarner from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, May 1st. Finally, ValuEngine cut shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $42.67.
In other news, Director Dennis C. Cuneo sold 1,000 shares of BorgWarner stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $44.06, for a total transaction of $44,060.00. Following the completion of the sale, the director now directly owns 13,398 shares in the company, valued at $590,315.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is currently owned by company insiders.
BorgWarner Company Profile
BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.
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