Banque Pictet & Cie SA Has $13.55 Million Position in BorgWarner Inc. (BWA)
Banque Pictet & Cie SA decreased its position in shares of BorgWarner Inc. (NYSE:BWA) by 18.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 319,927 shares of the auto parts company’s stock after selling 74,038 shares during the period. Banque Pictet & Cie SA owned approximately 0.15% of BorgWarner worth $13,552,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. PICTET BANK & TRUST Ltd raised its stake in BorgWarner by 669.4% in the second quarter. PICTET BANK & TRUST Ltd now owns 47,010 shares of the auto parts company’s stock worth $1,991,000 after buying an additional 40,900 shares during the period. Delta Lloyd Asset Management N.V. bought a new stake in BorgWarner during the second quarter worth $1,063,000. Swiss National Bank raised its stake in BorgWarner by 2.8% in the second quarter. Swiss National Bank now owns 775,602 shares of the auto parts company’s stock worth $32,855,000 after buying an additional 21,000 shares during the period. Pacad Investment Ltd. raised its stake in BorgWarner by 23,400.0% in the second quarter. Pacad Investment Ltd. now owns 23,500 shares of the auto parts company’s stock worth $995,000 after buying an additional 23,400 shares during the period. Finally, Chicago Equity Partners LLC bought a new stake in BorgWarner during the second quarter worth $444,000. 91.06% of the stock is owned by hedge funds and other institutional investors.
Shares of BorgWarner Inc. (BWA) traded up 0.54% on Friday, reaching $46.66. The company’s stock had a trading volume of 1,363,379 shares. The stock has a market cap of $9.85 billion, a PE ratio of 52.02 and a beta of 1.73. BorgWarner Inc. has a 12-month low of $33.09 and a 12-month high of $48.03. The firm has a 50 day moving average price of $45.61 and a 200-day moving average price of $42.74.
BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.07. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the business earned $0.84 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts expect that BorgWarner Inc. will post $3.70 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.14 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.20%. BorgWarner’s payout ratio is 62.92%.
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A number of equities analysts recently commented on the company. Zacks Investment Research upgraded BorgWarner from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, August 22nd. Jefferies Group LLC restated a “buy” rating and set a $56.00 target price on shares of BorgWarner in a report on Tuesday. Barclays PLC set a $46.00 target price on BorgWarner and gave the company a “hold” rating in a report on Sunday, August 6th. Deutsche Bank AG upped their target price on BorgWarner from $54.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $55.00 price objective on shares of BorgWarner in a report on Friday. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $43.80.
In other news, Director Dennis C. Cuneo sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $44.06, for a total value of $44,060.00. Following the sale, the director now owns 13,398 shares in the company, valued at $590,315.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tonit M. Calaway sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total value of $134,970.00. Following the completion of the sale, the executive vice president now owns 34,120 shares in the company, valued at approximately $1,535,058.80. The disclosure for this sale can be found here. Insiders sold 15,052 shares of company stock worth $680,570 in the last 90 days. Company insiders own 0.66% of the company’s stock.
BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.
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