Riverhead Capital Management LLC Sells 57,250 Shares of BorgWarner Inc. (NYSE:BWA)
Riverhead Capital Management LLC lowered its stake in BorgWarner Inc. (NYSE:BWA) by 36.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 101,228 shares of the auto parts company’s stock after selling 57,250 shares during the period. Riverhead Capital Management LLC’s holdings in BorgWarner were worth $3,888,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. Mengis Capital Management Inc. grew its stake in shares of BorgWarner by 2.9% in the 4th quarter. Mengis Capital Management Inc. now owns 8,870 shares of the auto parts company’s stock worth $308,000 after buying an additional 250 shares during the last quarter. Mason Street Advisors LLC grew its stake in shares of BorgWarner by 0.9% in the 1st quarter. Mason Street Advisors LLC now owns 29,631 shares of the auto parts company’s stock worth $1,138,000 after buying an additional 267 shares during the last quarter. State Treasurer State of Michigan grew its stake in shares of BorgWarner by 0.5% in the 1st quarter. State Treasurer State of Michigan now owns 59,896 shares of the auto parts company’s stock worth $2,301,000 after buying an additional 300 shares during the last quarter. Advisor Partners LLC grew its stake in shares of BorgWarner by 3.0% in the 1st quarter. Advisor Partners LLC now owns 11,667 shares of the auto parts company’s stock worth $448,000 after buying an additional 337 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in BorgWarner by 118.5% in the 1st quarter. Rockefeller Capital Management L.P. now owns 651 shares of the auto parts company’s stock valued at $25,000 after acquiring an additional 353 shares in the last quarter. Institutional investors own 90.12% of the company’s stock.
BWA has been the topic of several analyst reports. Bank of America reaffirmed a “neutral” rating and issued a $46.00 price objective (up from $42.00) on shares of BorgWarner in a research report on Tuesday, April 23rd. Barclays raised BorgWarner from an “equal weight” rating to an “overweight” rating and set a $36.09 price objective on the stock in a research report on Thursday, May 30th. ValuEngine cut BorgWarner from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 14th. Morgan Stanley set a $49.00 price objective on BorgWarner and gave the company a “buy” rating in a research report on Friday, February 15th. Finally, Robert W. Baird raised BorgWarner to a “top pick” rating in a research report on Friday, February 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. BorgWarner presently has an average rating of “Buy” and a consensus price target of $48.76.
BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, April 25th. The auto parts company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.06. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.47 billion. BorgWarner had a return on equity of 21.64% and a net margin of 8.39%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 EPS. Equities research analysts anticipate that BorgWarner Inc. will post 4.22 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.68 annualized dividend and a dividend yield of 1.69%. BorgWarner’s payout ratio is 15.18%.
In other news, Director Thomas T. Stallkamp sold 3,124 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $42.00, for a total transaction of $131,208.00. Following the transaction, the director now directly owns 4,033 shares of the company’s stock, valued at approximately $169,386. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.75% of the stock is owned by corporate insiders.
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BorgWarner Company Profile
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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