Point72 Asset Management L.P. Buys Shares of 72,980 BorgWarner Inc. (NYSE:BWA)
Point72 Asset Management L.P. acquired a new position in shares of BorgWarner Inc. (NYSE:BWA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 72,980 shares of the auto parts company’s stock, valued at approximately $3,150,000.
Other large investors have also recently bought and sold shares of the company. Morgan Stanley raised its position in shares of BorgWarner by 130.9% during the 2nd quarter. Morgan Stanley now owns 1,200,289 shares of the auto parts company’s stock valued at $51,805,000 after acquiring an additional 680,461 shares during the last quarter. Natixis bought a new position in BorgWarner during the 2nd quarter worth about $5,426,000. Dynamic Technology Lab Private Ltd increased its holdings in BorgWarner by 636.3% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 45,005 shares of the auto parts company’s stock worth $1,942,000 after purchasing an additional 38,893 shares in the last quarter. BB&T Securities LLC increased its holdings in BorgWarner by 33.2% during the 2nd quarter. BB&T Securities LLC now owns 5,681 shares of the auto parts company’s stock worth $245,000 after purchasing an additional 1,415 shares in the last quarter. Finally, Flinton Capital Management LLC increased its holdings in BorgWarner by 280.7% during the 2nd quarter. Flinton Capital Management LLC now owns 46,656 shares of the auto parts company’s stock worth $2,014,000 after purchasing an additional 34,400 shares in the last quarter. 91.74% of the stock is currently owned by hedge funds and other institutional investors.
BorgWarner stock traded down $0.02 during mid-day trading on Friday, reaching $37.85. The company had a trading volume of 3,316,314 shares, compared to its average volume of 1,758,503. BorgWarner Inc. has a fifty-two week low of $37.37 and a fifty-two week high of $58.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.58 and a quick ratio of 1.23. The firm has a market capitalization of $8.94 billion, a P/E ratio of 9.73, a P/E/G ratio of 1.22 and a beta of 1.88.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Tuesday, September 4th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, August 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.80%. BorgWarner’s dividend payout ratio (DPR) is presently 17.48%.
BWA has been the subject of a number of recent research reports. Citigroup reduced their price objective on shares of BorgWarner from $52.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday. Buckingham Research reduced their price objective on shares of BorgWarner from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Wednesday, October 3rd. Wolfe Research started coverage on shares of BorgWarner in a research note on Tuesday, October 2nd. They issued an “outperform” rating for the company. BMO Capital Markets set a $60.00 target price on shares of BorgWarner and gave the company a “buy” rating in a research note on Thursday, September 20th. Finally, Royal Bank of Canada cut their target price on shares of BorgWarner to $49.00 and set a “positive” rating for the company in a research note on Wednesday, September 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. BorgWarner presently has a consensus rating of “Buy” and a consensus price target of $56.43.
In related news, EVP Tonit M. Calaway sold 4,590 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 34,982 shares in the company, valued at $1,609,521.82. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Thomas J. Mcgill sold 3,260 shares of the business’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $44.55, for a total transaction of $145,233.00. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by insiders.
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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