First Trust Advisors LP grew its position in shares of BorgWarner Inc. (NYSE:BWA) by 15.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 240,253 shares of the auto parts company’s stock after purchasing an additional 32,322 shares during the quarter. First Trust Advisors LP owned 0.12% of BorgWarner worth $10,422,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of BorgWarner by 262.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,074 shares of the auto parts company’s stock worth $223,000 after acquiring an additional 4,396 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of BorgWarner by 12.3% in the 3rd quarter. Wedge Capital Management L L P NC now owns 374,637 shares of the auto parts company’s stock worth $13,742,000 after acquiring an additional 41,055 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of BorgWarner by 34.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 45,089 shares of the auto parts company’s stock worth $1,654,000 after acquiring an additional 11,606 shares during the last quarter. Usca Ria LLC acquired a new position in shares of BorgWarner in the 3rd quarter worth $31,000. Finally, Andra AP fonden grew its holdings in shares of BorgWarner by 3.1% in the 3rd quarter. Andra AP fonden now owns 121,600 shares of the auto parts company’s stock worth $4,460,000 after acquiring an additional 3,600 shares during the last quarter. Institutional investors own 91.38% of the company’s stock.
Shares of BWA stock opened at $34.15 on Friday. BorgWarner Inc. has a 1-year low of $30.71 and a 1-year high of $46.60. The company has a current ratio of 1.58, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 9.49, a P/E/G ratio of 1.13 and a beta of 1.91. The stock’s fifty day simple moving average is $39.10 and its 200-day simple moving average is $38.84.
BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, February 13th. The auto parts company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.14. BorgWarner had a return on equity of 19.05% and a net margin of 7.34%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. BorgWarner’s revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts predict that BorgWarner Inc. will post 4.01 EPS for the current year.
BorgWarner declared that its Board of Directors has authorized a share repurchase plan on Tuesday, January 28th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the auto parts company to buy up to 14.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.99%. BorgWarner’s dividend payout ratio is 16.46%.
A number of equities analysts recently issued reports on BWA shares. Royal Bank of Canada set a $41.00 target price on BorgWarner and gave the stock a “hold” rating in a report on Friday, November 1st. ValuEngine upgraded BorgWarner from a “sell” rating to a “hold” rating in a report on Friday, January 10th. Barclays restated a “buy” rating and issued a $46.00 target price on shares of BorgWarner in a report on Sunday, November 3rd. Morgan Stanley decreased their target price on BorgWarner from $52.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, Oppenheimer set a $47.00 target price on BorgWarner and gave the stock a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $44.71.
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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