Envestnet Asset Management Inc. Sells 11,244 Shares of BorgWarner Inc. (BWA)

Envestnet Asset Management Inc. lessened its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 19.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,015 shares of the auto parts company’s stock after selling 11,244 shares during the period. Envestnet Asset Management Inc.’s holdings in BorgWarner were worth $2,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Ontario Teachers Pension Plan Board increased its holdings in BorgWarner by 15.0% in the second quarter. Ontario Teachers Pension Plan Board now owns 27,658 shares of the auto parts company’s stock valued at $1,194,000 after buying an additional 3,610 shares in the last quarter. North Star Asset Management Inc. increased its holdings in BorgWarner by 12.5% in the second quarter. North Star Asset Management Inc. now owns 98,396 shares of the auto parts company’s stock valued at $4,247,000 after buying an additional 10,920 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in BorgWarner by 276.2% in the second quarter. Riverhead Capital Management LLC now owns 73,127 shares of the auto parts company’s stock valued at $3,156,000 after buying an additional 53,691 shares in the last quarter. Meadow Creek Investment Management LLC increased its holdings in BorgWarner by 294.6% in the second quarter. Meadow Creek Investment Management LLC now owns 64,152 shares of the auto parts company’s stock valued at $2,769,000 after buying an additional 47,894 shares in the last quarter. Finally, FMR LLC increased its holdings in BorgWarner by 65.1% in the second quarter. FMR LLC now owns 1,162,751 shares of the auto parts company’s stock valued at $50,184,000 after buying an additional 458,280 shares in the last quarter. 91.65% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on BWA shares. Citigroup cut their price objective on shares of BorgWarner from $60.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, May 22nd. Goldman Sachs Group raised shares of BorgWarner from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $56.00 to $58.00 in a report on Monday, June 25th. ValuEngine cut shares of BorgWarner from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Wells Fargo & Co raised shares of BorgWarner from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $57.00 to $56.00 in a report on Wednesday, July 18th. Finally, Oppenheimer cut their price objective on shares of BorgWarner from $58.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, July 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $57.73.

BWA stock opened at $44.87 on Friday. The stock has a market cap of $9.13 billion, a PE ratio of 10.17, a P/E/G ratio of 1.22 and a beta of 1.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.58 and a quick ratio of 1.23. BorgWarner Inc. has a 52 week low of $42.06 and a 52 week high of $58.22.

BorgWarner (NYSE:BWA) last released its earnings results on Thursday, July 26th. The auto parts company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.71 billion. BorgWarner had a net margin of 5.11% and a return on equity of 22.83%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.96 earnings per share. equities analysts anticipate that BorgWarner Inc. will post 4.49 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Tuesday, September 4th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, August 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.52%. BorgWarner’s dividend payout ratio is currently 17.48%.

In other news, VP Thomas J. Mcgill sold 3,260 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $44.55, for a total transaction of $145,233.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tonit M. Calaway sold 4,590 shares of the business’s stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $46.01, for a total transaction of $211,185.90. Following the sale, the executive vice president now directly owns 34,982 shares of the company’s stock, valued at approximately $1,609,521.82. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.

BorgWarner Company Profile

BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates through two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; and timing systems, such as timing chains, variable cam timing products, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains for light vehicles, and hybrid power transmission chains.

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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