Tatro Capital LLC purchased a new position in shares of BorgWarner Inc. (NYSE:BWA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,690 shares of the auto parts company’s stock, valued at approximately $228,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of BorgWarner by 11.0% during the 2nd quarter. BlackRock Inc. now owns 25,044,591 shares of the auto parts company’s stock worth $1,215,663,000 after purchasing an additional 2,476,065 shares during the last quarter. Deutsche Bank AG boosted its stake in BorgWarner by 13.7% during the second quarter. Deutsche Bank AG now owns 1,292,728 shares of the auto parts company’s stock worth $62,749,000 after buying an additional 156,246 shares during the period. AMF Pensionsforsakring AB increased its position in shares of BorgWarner by 566.6% during the second quarter. AMF Pensionsforsakring AB now owns 299,027 shares of the auto parts company’s stock valued at $14,515,000 after acquiring an additional 254,167 shares during the last quarter. Vantage Consulting Group Inc raised its stake in shares of BorgWarner by 36.5% in the 2nd quarter. Vantage Consulting Group Inc now owns 7,223 shares of the auto parts company’s stock valued at $351,000 after acquiring an additional 1,930 shares during the period. Finally, People s United Financial Inc. raised its stake in shares of BorgWarner by 38.5% in the 2nd quarter. People s United Financial Inc. now owns 139,515 shares of the auto parts company’s stock valued at $6,772,000 after acquiring an additional 38,771 shares during the period. 92.85% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on BWA. Jefferies Financial Group downgraded shares of BorgWarner from a “buy” rating to a “hold” rating and dropped their target price for the company from $65.00 to $47.00 in a report on Monday. Robert W. Baird boosted their price objective on BorgWarner from $53.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, June 9th. They noted that the move was a valuation call. Wells Fargo & Company lowered their target price on BorgWarner from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, September 10th. Finally, Barclays cut their price target on shares of BorgWarner from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Friday, August 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $48.93.
BorgWarner (NYSE:BWA) last posted its earnings results on Tuesday, August 3rd. The auto parts company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.80 by $0.28. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.48 billion. BorgWarner had a return on equity of 15.95% and a net margin of 5.49%. BorgWarner’s revenue for the quarter was up 163.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.14) earnings per share. On average, analysts predict that BorgWarner Inc. will post 4.22 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.64%. The ex-dividend date was Tuesday, August 31st. BorgWarner’s payout ratio is 24.64%.
BorgWarner, Inc engages in the provision of technology solutions for combustion, hybrid and electric vehicles. It operates through the following segments: Air Management, e-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment develops and manufactures products to improve fuel economy, reduce emissions and enhance performance.
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