Teacher Retirement System of Texas reduced its stake in shares of BorgWarner Inc. (NYSE:BWA) by 96.7% during the second quarter, Holdings Channel reports. The institutional investor owned 15,649 shares of the company’s stock after selling 453,498 shares during the period. Teacher Retirement System of Texas’ holdings in BorgWarner were worth $462,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. River & Mercantile Asset Management LLP raised its stake 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 raised its stake 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 stake in BorgWarner during the second quarter valued at approximately $130,000. ING Groep NV acquired a new stake in BorgWarner during the second quarter valued at approximately $227,000. Finally, Societe Generale acquired a new stake in BorgWarner during the second quarter valued at approximately $228,000. Institutional investors and hedge funds own 88.29% of the company’s stock.
BorgWarner Inc. (NYSE:BWA) traded down 0.859% during trading on Friday, hitting $35.205. 771,529 shares of the company traded hands. The stock has a 50-day moving average price of $34.74 and a 200-day moving average price of $34.17. The firm has a market capitalization of $7.54 billion, a P/E ratio of 12.732 and a beta of 1.93. BorgWarner Inc. has a 12-month low of $27.52 and a 12-month high of $48.64.
BorgWarner (NYSE:BWA) last announced its earnings results on Thursday, July 28th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.02. BorgWarner had a return on equity of 18.50% and a net margin of 7.10%. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The firm’s revenue was up 14.6% on a year-over-year basis. Equities analysts expect that BorgWarner Inc. will post $3.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.46%. The ex-dividend date was Tuesday, August 30th. BorgWarner’s dividend payout ratio (DPR) is presently 18.77%.
Several analysts have recently commented on the stock. Zacks Investment Research lowered shares of BorgWarner from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Goldman Sachs Group Inc. lowered shares of BorgWarner from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $37.00 to $35.00 in a research report on Thursday. Robert W. Baird restated an “outperform” rating and set a $46.00 target price on shares of BorgWarner in a research report on Wednesday, September 7th. Buckingham Research initiated coverage on shares of BorgWarner in a research report on Tuesday, August 2nd. They set a “neutral” rating and a $33.00 target price on the stock. Finally, Bank of America Corp. lowered shares of BorgWarner from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. BorgWarner has a consensus rating of “Hold” and a consensus price target of $41.36.
In other BorgWarner news, VP Thomas J. Mcgill sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $31.83, for a total value of $159,150.00. Following the transaction, the vice president now directly owns 31,061 shares of the company’s stock, valued at $988,671.63. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brady D. Ericson sold 16,240 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $33.77, for a total value of $548,424.80. Following the completion of the transaction, the vice president now directly owns 70,156 shares in the company, valued at $2,369,168.12. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.
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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