Westpac Banking Corp increased its position in shares of BorgWarner Inc. (NYSE:BWA) by 158.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,753 shares of the company’s stock after buying an additional 59,282 shares during the period. Westpac Banking Corp’s holdings in BorgWarner were worth $2,856,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Mizuho Asset Management Co. Ltd. raised its stake in shares of BorgWarner by 106.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,567 shares of the company’s stock worth $105,000 after buying an additional 1,837 shares in the last quarter. River & Mercantile Asset Management LLP raised its stake in shares of BorgWarner by 166.7% in the second quarter. River & Mercantile Asset Management LLP now owns 4,000 shares of the company’s stock worth $118,000 after buying an additional 2,500 shares in the last quarter. Washington Trust Bank raised its stake in shares of BorgWarner by 1.4% in the second quarter. Washington Trust Bank now owns 4,054 shares of the company’s stock worth $120,000 after buying an additional 54 shares in the last quarter. JFS Wealth Advisors LLC bought a new stake in shares of BorgWarner during the second quarter worth $130,000. Finally, ING Groep NV bought a new stake in shares of BorgWarner during the second quarter worth $227,000. 88.29% of the stock is owned by institutional investors and hedge funds.
Shares of BorgWarner Inc. (NYSE:BWA) traded down 0.0792% during midday trading on Tuesday, reaching $34.7025. 176,059 shares of the company’s stock traded hands. The stock has a 50 day moving average of $34.47 and a 200-day moving average of $34.23. BorgWarner Inc. has a 12 month low of $27.52 and a 12 month high of $48.64. The stock has a market cap of $7.44 billion, a P/E ratio of 12.5506 and a beta of 1.93.
BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. BorgWarner had a net margin of 7.10% and a return on equity of 18.50%. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period last year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, equities research analysts forecast that BorgWarner Inc. will post $3.25 EPS for the current fiscal year.
The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, August 30th. BorgWarner’s dividend payout ratio (DPR) is 18.77%.
A number of analysts have commented on BWA shares. Zacks Investment Research lowered shares of BorgWarner from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. TheStreet lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a report on Thursday, June 2nd. Robert W. Baird reaffirmed an “outperform” rating and set a $46.00 target price on shares of BorgWarner in a report on Wednesday, September 7th. Buckingham Research started coverage on shares of BorgWarner in a report on Tuesday, August 2nd. They set a “neutral” rating and a $33.00 target price for the company. Finally, Bank of America Corp. lowered shares of BorgWarner from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. BorgWarner has a consensus rating of “Hold” and a consensus price target of $42.71.
In related news, VP Brady D. Ericson sold 17,132 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $33.69, for a total transaction of $577,177.08. Following the completion of the sale, the vice president now owns 25,502 shares in the company, valued at $859,162.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brady D. Ericson sold 16,240 shares of the firm’s stock in a transaction dated 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 approximately $2,369,168.12. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.
BorgWarner Company Profile
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.
Want to see what other hedge funds are holding BWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BorgWarner Inc. (NYSE:BWA).
Receive News & Ratings for BorgWarner Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BorgWarner Inc. and related companies with MarketBeat.com's FREE daily email newsletter.