U S Global Investors Inc Buys New Stake in BorgWarner Inc. (BWA)
U S Global Investors Inc bought a new stake in shares of BorgWarner Inc. (NYSE:BWA) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 9,379 shares of the auto parts company’s stock, valued at approximately $401,000.
Several other institutional investors have also made changes to their positions in the stock. Eqis Capital Management Inc. raised its holdings in BorgWarner by 53.1% during the 2nd quarter. Eqis Capital Management Inc. now owns 6,960 shares of the auto parts company’s stock worth $300,000 after buying an additional 2,415 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in BorgWarner by 7.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 648,520 shares of the auto parts company’s stock worth $27,990,000 after buying an additional 42,605 shares during the period. Wells Fargo & Company MN raised its holdings in BorgWarner by 36.3% during the 2nd quarter. Wells Fargo & Company MN now owns 1,104,707 shares of the auto parts company’s stock worth $47,679,000 after buying an additional 294,196 shares during the period. First Trust Advisors LP raised its holdings in BorgWarner by 3.7% during the 2nd quarter. First Trust Advisors LP now owns 163,635 shares of the auto parts company’s stock worth $7,062,000 after buying an additional 5,914 shares during the period. Finally, D.A. Davidson & CO. raised its holdings in BorgWarner by 20.8% during the 2nd quarter. D.A. Davidson & CO. now owns 10,243 shares of the auto parts company’s stock worth $442,000 after buying an additional 1,765 shares during the period. Institutional investors own 90.60% of the company’s stock.
Several equities analysts have weighed in on the company. Wolfe Research assumed coverage on BorgWarner in a research note on Tuesday, October 2nd. They set an “outperform” rating on the stock. ValuEngine cut BorgWarner from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 1st. BMO Capital Markets set a $60.00 target price on BorgWarner and gave the company a “buy” rating in a research note on Thursday, September 20th. Royal Bank of Canada lowered their target price on BorgWarner to $49.00 and set a “positive” rating on the stock in a research note on Wednesday, September 19th. Finally, Bank of America raised BorgWarner from an “underperform” rating to a “neutral” rating and set a $45.00 target price on the stock in a research note on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $53.79.
Shares of NYSE BWA opened at $36.73 on Thursday. The company has a market capitalization of $7.84 billion, a P/E ratio of 9.44, a PEG ratio of 1.28 and a beta of 1.80. BorgWarner Inc. has a 52 week low of $35.71 and a 52 week high of $58.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.66 and a quick ratio of 1.28.
BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, October 25th. The auto parts company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.01. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.45 billion. BorgWarner had a return on equity of 22.68% and a net margin of 5.26%. As a group, equities analysts forecast that BorgWarner Inc. will post 4.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a $0.17 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.85%. BorgWarner’s payout ratio is 17.48%.
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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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