Cedar Hill Associates LLC Cuts Stake in BorgWarner (BWA)
Cedar Hill Associates LLC trimmed its position in BorgWarner (NYSE:BWA) by 6.2% during the fourth quarter, HoldingsChannel reports. The firm owned 140,102 shares of the auto parts company’s stock after selling 9,185 shares during the quarter. Cedar Hill Associates LLC’s holdings in BorgWarner were worth $7,158,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of BWA. Sei Investments Co. lifted its holdings in shares of BorgWarner by 39.9% in the third quarter. Sei Investments Co. now owns 211,698 shares of the auto parts company’s stock valued at $8,809,000 after purchasing an additional 60,357 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of BorgWarner by 1.3% in the third quarter. New York State Common Retirement Fund now owns 718,818 shares of the auto parts company’s stock valued at $36,825,000 after purchasing an additional 9,200 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of BorgWarner in the third quarter valued at about $3,204,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of BorgWarner in the third quarter valued at about $903,000. Finally, Macquarie Group Ltd. lifted its holdings in shares of BorgWarner by 44.9% in the third quarter. Macquarie Group Ltd. now owns 608,444 shares of the auto parts company’s stock valued at $31,170,000 after purchasing an additional 188,471 shares in the last quarter. Institutional investors own 95.68% of the company’s stock.
BWA has been the topic of a number of research reports. Royal Bank of Canada upgraded BorgWarner from a “sector perform” rating to an “outperform” rating in a report on Friday, February 9th. Wells Fargo lifted their target price on BorgWarner from $55.00 to $56.00 and gave the company a “market perform” rating in a research report on Friday, February 9th. Zacks Investment Research raised BorgWarner from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Thursday, January 11th. BMO Capital Markets reaffirmed a “buy” rating and issued a $64.00 target price on shares of BorgWarner in a research report on Tuesday, March 6th. Finally, ValuEngine downgraded BorgWarner from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $53.11.
BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, February 8th. The auto parts company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.06. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.53 billion. BorgWarner had a return on equity of 21.92% and a net margin of 4.49%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. equities analysts forecast that BorgWarner will post 4.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Wednesday, February 28th. BorgWarner’s dividend payout ratio (DPR) is presently 32.85%.
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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