BorgWarner Inc. (BWA) Shares Sold by Hancock Holding Co.
Hancock Holding Co. lessened its stake in shares of BorgWarner Inc. (NYSE:BWA) by 93.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,497 shares of the auto parts company’s stock after selling 351,134 shares during the period. Hancock Holding Co.’s holdings in BorgWarner were worth $1,080,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of BWA. Van ECK Associates Corp raised its stake in shares of BorgWarner by 6.8% during the first quarter. Van ECK Associates Corp now owns 2,702 shares of the auto parts company’s stock valued at $113,000 after acquiring an additional 171 shares in the last quarter. CENTRAL TRUST Co increased its holdings in BorgWarner by 5.3% during the second quarter. CENTRAL TRUST Co now owns 2,679 shares of the auto parts company’s stock valued at $114,000 after buying an additional 135 shares during the period. SRS Capital Advisors Inc. increased its holdings in BorgWarner by 13.7% during the first quarter. SRS Capital Advisors Inc. now owns 2,929 shares of the auto parts company’s stock valued at $122,000 after buying an additional 354 shares during the period. Exane Derivatives purchased a new position in BorgWarner during the second quarter valued at approximately $135,000. Finally, Global X Management Co. LLC increased its holdings in BorgWarner by 29.9% during the first quarter. Global X Management Co. LLC now owns 3,694 shares of the auto parts company’s stock valued at $154,000 after buying an additional 851 shares during the period. 91.09% of the stock is owned by hedge funds and other institutional investors.
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BorgWarner Inc. (NYSE:BWA) opened at 51.23 on Friday. The firm has a market cap of $10.81 billion, a P/E ratio of 57.11 and a beta of 1.73. The firm has a 50 day moving average of $46.01 and a 200-day moving average of $43.15. BorgWarner Inc. has a 12 month low of $33.09 and a 12 month high of $51.55.
BorgWarner (NYSE:BWA) last issued its 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. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.27 billion. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. On average, equities research analysts forecast that BorgWarner Inc. will post $3.70 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Wednesday, August 30th. BorgWarner’s payout ratio is 62.92%.
In other news, EVP Tonit M. Calaway sold 3,000 shares of BorgWarner stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $44.99, for a total value of $134,970.00. Following the sale, the executive vice president now owns 34,120 shares of the company’s stock, valued at $1,535,058.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brady D. Ericson sold 11,052 shares of BorgWarner stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total transaction of $501,539.76. Following the completion of the sale, the insider now directly owns 23,418 shares in the company, valued at approximately $1,062,708.84. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
Several equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets reissued an “outperform” rating and set a $55.00 price objective (up from $50.00) on shares of BorgWarner in a report on Friday, July 28th. Barclays PLC set a $46.00 price objective on shares of BorgWarner and gave the company a “hold” rating in a report on Sunday, August 6th. ValuEngine lowered shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, Deutsche Bank AG lifted their price objective on shares of BorgWarner from $54.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $44.20.
BorgWarner Company Profile
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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