Fifth Third Bancorp Acquires 42,824 Shares of BorgWarner Inc. (NYSE:BWA)

Fifth Third Bancorp boosted its position in shares of BorgWarner Inc. (NYSE:BWA) by 75.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 99,784 shares of the auto parts company’s stock after purchasing an additional 42,824 shares during the quarter. Fifth Third Bancorp’s holdings in BorgWarner were worth $3,866,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. CIBC Asset Management Inc grew its holdings in BorgWarner by 1.7% during the second quarter. CIBC Asset Management Inc now owns 17,450 shares of the auto parts company’s stock valued at $616,000 after purchasing an additional 295 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of BorgWarner by 3.6% in the third quarter. Daiwa Securities Group Inc. now owns 10,334 shares of the auto parts company’s stock valued at $400,000 after purchasing an additional 360 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in BorgWarner by 76.4% during the second quarter. Orion Portfolio Solutions LLC now owns 884 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 383 shares during the last quarter. American International Group Inc. increased its stake in BorgWarner by 0.6% during the second quarter. American International Group Inc. now owns 70,640 shares of the auto parts company’s stock worth $2,494,000 after acquiring an additional 404 shares during the last quarter. Finally, IFG Advisory LLC boosted its holdings in BorgWarner by 3.2% in the third quarter. IFG Advisory LLC now owns 13,709 shares of the auto parts company’s stock valued at $531,000 after purchasing an additional 420 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.

A number of analysts have issued reports on BWA shares. ValuEngine downgraded BorgWarner from a “hold” rating to a “sell” rating in a report on Thursday, October 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $36.00 price target on shares of BorgWarner in a report on Wednesday, November 4th. Morgan Stanley downgraded BorgWarner from an “equal weight” rating to an “underweight” rating and set a $27.00 price target for the company. in a report on Monday, November 9th. KeyCorp decreased their price target on BorgWarner from $53.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, October 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on BorgWarner from $44.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, October 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $44.40.

Shares of BWA stock opened at $37.56 on Friday. BorgWarner Inc. has a 52-week low of $17.00 and a 52-week high of $45.35. The stock’s 50-day moving average price is $38.24 and its 200 day moving average price is $36.80. The stock has a market capitalization of $9.18 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.53 and a beta of 1.81. The company has a quick ratio of 1.98, a current ratio of 2.35 and a debt-to-equity ratio of 0.57.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, October 29th. The auto parts company reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.13. BorgWarner had a return on equity of 11.48% and a net margin of 4.11%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the previous year, the company earned $0.96 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Analysts expect that BorgWarner Inc. will post 2.38 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Monday, November 30th. BorgWarner’s dividend payout ratio is presently 16.46%.

In other BorgWarner news, VP Craig Aaron sold 4,572 shares of BorgWarner stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $42.65, for a total value of $194,995.80. Following the sale, the vice president now owns 10,971 shares of the company’s stock, valued at approximately $467,913.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is currently owned by insiders.

About BorgWarner

BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. The company's Engine segment offers turbocharger and turbocharger actuators; 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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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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