Cornerstone Investment Partners LLC trimmed its position in BorgWarner Inc. (NYSE:BWA) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,218,119 shares of the auto parts company’s stock after selling 69,406 shares during the quarter. BorgWarner accounts for approximately 2.1% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 29th largest holding. Cornerstone Investment Partners LLC owned about 0.58% of BorgWarner worth $42,317,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of BorgWarner during the 3rd quarter valued at about $146,000. National Pension Service raised its holdings in shares of BorgWarner by 75.2% during the 3rd quarter. National Pension Service now owns 4,980 shares of the auto parts company’s stock valued at $213,000 after buying an additional 2,138 shares during the period. Boston Private Wealth LLC purchased a new stake in shares of BorgWarner during the 3rd quarter valued at about $231,000. Fulton Bank N.A. raised its holdings in shares of BorgWarner by 18.9% during the 4th quarter. Fulton Bank N.A. now owns 6,985 shares of the auto parts company’s stock valued at $243,000 after buying an additional 1,109 shares during the period. Finally, BB&T Securities LLC raised its holdings in shares of BorgWarner by 33.2% during the 2nd quarter. BB&T Securities LLC now owns 5,681 shares of the auto parts company’s stock valued at $245,000 after buying an additional 1,415 shares during the period. Institutional investors own 90.44% of the company’s stock.
In related news, Director Deborah D. Mcwhinney acquired 1,421 shares of BorgWarner stock in a transaction that occurred on Wednesday, December 19th. The stock was acquired at an average price of $35.14 per share, for a total transaction of $49,933.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Joel Wiegert sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $39.57, for a total value of $158,280.00. The disclosure for this sale can be found here. Insiders have sold a total of 38,475 shares of company stock valued at $1,526,992 in the last 90 days. Insiders own 0.74% of the company’s stock.
Several research firms have issued reports on BWA. ValuEngine upgraded BorgWarner from a “strong sell” rating to a “sell” rating in a report on Thursday. Barclays set a $36.00 price objective on BorgWarner and gave the stock a “hold” rating in a report on Friday, January 4th. Zacks Investment Research upgraded BorgWarner from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Thursday, January 3rd. Jefferies Financial Group set a $50.00 price objective on BorgWarner and gave the stock a “buy” rating in a report on Thursday, December 20th. Finally, TheStreet downgraded BorgWarner from a “b-” rating to a “c+” rating in a report on Tuesday, December 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $51.00.
NYSE:BWA traded up $0.11 during midday trading on Friday, reaching $39.40. 65,788 shares of the company traded hands, compared to its average volume of 1,738,731. BorgWarner Inc. has a twelve month low of $32.46 and a twelve month high of $58.22. The firm has a market capitalization of $8.06 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.03 and a beta of 1.70. 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 released its quarterly earnings data on Thursday, October 25th. The auto parts company reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.01. BorgWarner had a return on equity of 22.68% and a net margin of 5.26%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.45 billion. Research analysts anticipate that BorgWarner Inc. will post 4.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Monday, December 3rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, November 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.73%. BorgWarner’s dividend payout ratio is currently 17.48%.
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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