Vident Investment Advisory LLC Has $3 Million Position in BorgWarner Inc. (BWA)
Vident Investment Advisory LLC reduced its stake in BorgWarner Inc. (NYSE:BWA) by 8.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,609 shares of the auto parts company’s stock after selling 5,182 shares during the period. Vident Investment Advisory LLC’s holdings in BorgWarner were worth $3,003,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of BWA. Pacer Advisors Inc. grew its stake in BorgWarner by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 4,433 shares of the auto parts company’s stock worth $188,000 after acquiring an additional 341 shares in the last quarter. Zeke Capital Advisors LLC bought a new position in BorgWarner in the 3rd quarter worth about $201,000. Dorsey & Whitney Trust CO LLC bought a new position in BorgWarner in the 3rd quarter worth about $202,000. Rothschild Investment Corp IL bought a new position in BorgWarner in the 3rd quarter worth about $205,000. Finally, Obermeyer Wood Investment Counsel Lllp grew its stake in BorgWarner by 2.5% in the 2nd quarter. Obermeyer Wood Investment Counsel Lllp now owns 4,921 shares of the auto parts company’s stock worth $208,000 after acquiring an additional 121 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.
Shares of BorgWarner Inc. (BWA) opened at $53.76 on Monday. BorgWarner Inc. has a 52-week low of $37.54 and a 52-week high of $55.86. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.43. The company has a market cap of $11,334.68, a P/E ratio of 14.65, a P/E/G ratio of 1.63 and a beta of 1.76.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, October 26th. The auto parts company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.07. BorgWarner had a net margin of 3.09% and a return on equity of 21.48%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. BorgWarner’s revenue for the quarter was up 9.1% compared to the same quarter last year. equities analysts forecast that BorgWarner Inc. will post 3.82 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.17 per share. This is a boost from BorgWarner’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.26%. BorgWarner’s dividend payout ratio is presently 49.28%.
Several brokerages have recently weighed in on BWA. Oppenheimer began coverage on shares of BorgWarner in a research report on Thursday. They issued an “outperform” rating and a $63.00 price target for the company. Citigroup upped their price target on shares of BorgWarner from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. BMO Capital Markets upped their price target on shares of BorgWarner from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, October 30th. UBS upped their price target on shares of BorgWarner from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Buckingham Research upped their price target on shares of BorgWarner from $37.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $49.67.
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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