BorgWarner Inc. (BWA) Shares Sold by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board lowered its stake in BorgWarner Inc. (NYSE:BWA) by 18.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,259 shares of the auto parts company’s stock after selling 43,900 shares during the period. Canada Pension Plan Investment Board’s holdings in BorgWarner were worth $8,225,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in BorgWarner in the third quarter valued at approximately $146,000. BB&T Securities LLC boosted its position in BorgWarner by 33.2% in the second quarter. BB&T Securities LLC now owns 5,681 shares of the auto parts company’s stock valued at $245,000 after buying an additional 1,415 shares in the last quarter. CIBC World Markets Inc. acquired a new stake in BorgWarner in the third quarter valued at approximately $255,000. Tower Research Capital LLC TRC boosted its position in BorgWarner by 277.8% in the second quarter. Tower Research Capital LLC TRC now owns 6,007 shares of the auto parts company’s stock valued at $259,000 after buying an additional 4,417 shares in the last quarter. Finally, Yorktown Management & Research Co Inc acquired a new stake in BorgWarner in the second quarter valued at approximately $263,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.
A number of brokerages have weighed in on BWA. Buckingham Research cut their target price on shares of BorgWarner from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 3rd. Oppenheimer restated a “buy” rating and issued a $51.00 target price on shares of BorgWarner in a research report on Thursday, October 25th. Jefferies Financial Group began coverage on shares of BorgWarner in a research report on Tuesday. They issued a “buy” rating and a $48.00 target price on the stock. Morgan Stanley cut their target price on shares of BorgWarner from $61.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, November 14th. Finally, ValuEngine lowered shares of BorgWarner from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.79.
BWA stock opened at $35.74 on Friday. The firm has a market cap of $7.84 billion, a PE ratio of 9.19, a price-to-earnings-growth ratio of 1.20 and a beta of 1.80. BorgWarner Inc. has a 52-week low of $35.56 and a 52-week high of $58.22. The company has a quick ratio of 1.28, a current ratio of 1.66 and a debt-to-equity ratio of 0.50.
BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, October 25th. The auto parts company reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.01. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.45 billion. BorgWarner had a net margin of 5.26% and a return on equity of 22.68%. On average, research analysts predict that BorgWarner Inc. will post 4.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, November 30th. BorgWarner’s payout ratio is currently 17.48%.
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BorgWarner Company Profile
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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