Kornitzer Capital Management Inc. KS decreased its stake in BorgWarner Inc. (NYSE:BWA) by 8.8% during the second quarter, Holdings Channel reports. The institutional investor owned 267,305 shares of the company’s stock after selling 25,855 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in BorgWarner were worth $7,891,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of BWA. River & Mercantile Asset Management LLP boosted its position in BorgWarner by 166.7% in the second quarter. River & Mercantile Asset Management LLP now owns 4,000 shares of the company’s stock valued at $118,000 after buying an additional 2,500 shares in the last quarter. Washington Trust Bank boosted its position in BorgWarner by 1.4% in the second quarter. Washington Trust Bank now owns 4,054 shares of the company’s stock valued at $120,000 after buying an additional 54 shares in the last quarter. JFS Wealth Advisors LLC acquired a new position in BorgWarner during the second quarter valued at $130,000. ING Groep NV acquired a new position in BorgWarner during the second quarter valued at $227,000. Finally, CHICAGO TRUST Co NA acquired a new position in BorgWarner during the second quarter valued at $291,000. 88.25% of the stock is owned by institutional investors and hedge funds.
Shares of BorgWarner Inc. (NYSE:BWA) traded down 1.47% on Monday, hitting $34.16. The stock had a trading volume of 2,223,483 shares. BorgWarner Inc. has a 12-month low of $27.52 and a 12-month high of $48.64. The company has a 50 day moving average of $34.96 and a 200-day moving average of $34.11. The firm has a market capitalization of $7.32 billion, a P/E ratio of 12.35 and a beta of 1.93.
BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.02. The firm earned $2.33 billion during the quarter, compared to the consensus estimate of $2.33 billion. BorgWarner had a net margin of 7.10% and a return on equity of 18.50%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. Equities analysts predict that BorgWarner Inc. will post $3.25 EPS for the current fiscal year.
BWA has been the subject of several research analyst reports. Robert W. Baird reissued a “buy” rating on shares of BorgWarner in a research report on Tuesday, June 28th. Zacks Investment Research raised BorgWarner from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Bank of America Corp. cut BorgWarner from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. Seaport Global Securities assumed coverage on BorgWarner in a research report on Tuesday, August 9th. They set a “neutral” rating for the company. Finally, Buckingham Research assumed coverage on BorgWarner in a research note on Tuesday, August 2nd. They set a “neutral” rating and a $33.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. BorgWarner presently has an average rating of “Hold” and an average target price of $41.36.
In other BorgWarner news, VP Thomas J. Mcgill sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $31.83, for a total transaction of $159,150.00. Following the completion of the sale, the vice president now directly owns 31,061 shares in the company, valued at $988,671.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brady D. Ericson sold 16,240 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $33.77, for a total transaction of $548,424.80. Following the sale, the vice president now owns 70,156 shares of the company’s stock, valued at $2,369,168.12. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.
BorgWarner Inc is a supplier of engineered automotive systems and components for powertrain applications. The Company operates through two segments: Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Drivetrain segment’s products include transmission components and systems, all-wheel drive (AWD) torque transfer systems and rotating electrical devices.
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