91,922 Shares in BorgWarner Inc. (NYSE:BWA) Acquired by Stevens Capital Management LP
Stevens Capital Management LP purchased a new position in BorgWarner Inc. (NYSE:BWA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 91,922 shares of the auto parts company’s stock, valued at approximately $3,967,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. New Amsterdam Partners LLC NY lifted its holdings in shares of BorgWarner by 27.0% during the first quarter. New Amsterdam Partners LLC NY now owns 5,353 shares of the auto parts company’s stock worth $269,000 after purchasing an additional 1,138 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in BorgWarner by 0.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 214,649 shares of the auto parts company’s stock valued at $9,263,000 after acquiring an additional 1,201 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in BorgWarner by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 323,031 shares of the auto parts company’s stock valued at $13,942,000 after acquiring an additional 1,218 shares during the period. Providence Capital Advisors LLC lifted its holdings in BorgWarner by 6.6% in the second quarter. Providence Capital Advisors LLC now owns 23,190 shares of the auto parts company’s stock valued at $1,001,000 after acquiring an additional 1,433 shares during the period. Finally, AdvisorNet Financial Inc lifted its holdings in BorgWarner by 93.0% in the first quarter. AdvisorNet Financial Inc now owns 3,049 shares of the auto parts company’s stock valued at $153,000 after acquiring an additional 1,469 shares during the period. 91.65% of the stock is owned by institutional investors.
In other news, VP Thomas J. Mcgill sold 3,260 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $44.55, for a total value of $145,233.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tonit M. Calaway sold 4,590 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $46.01, for a total value of $211,185.90. Following the completion of the sale, the executive vice president now owns 34,982 shares of the company’s stock, valued at $1,609,521.82. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.
BorgWarner (NYSE:BWA) last announced its earnings results on Thursday, July 26th. The auto parts company reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.08. BorgWarner had a return on equity of 22.83% and a net margin of 5.11%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period in the prior year, the company posted $0.96 EPS. BorgWarner’s quarterly revenue was up 12.7% on a year-over-year basis. analysts forecast that BorgWarner Inc. will post 4.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Tuesday, September 4th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, August 31st. BorgWarner’s payout ratio is 17.48%.
A number of research firms have commented on BWA. Citigroup reduced their target price on BorgWarner from $59.00 to $52.00 and set a “neutral” rating for the company in a report on Monday, July 30th. Oppenheimer cut their price target on BorgWarner from $58.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, July 23rd. ValuEngine downgraded BorgWarner from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 1st. Wells Fargo & Co raised BorgWarner from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $57.00 to $56.00 in a research note on Wednesday, July 18th. Finally, Goldman Sachs Group upgraded BorgWarner from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $58.00 in a research report on Monday, June 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $57.73.
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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