Contravisory Investment Management Inc. decreased its holdings in BorgWarner Inc. (NYSE:BWA) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,272 shares of the auto parts company’s stock after selling 877 shares during the period. Contravisory Investment Management Inc.’s holdings in BorgWarner were worth $281,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BWA. Orion Portfolio Solutions LLC increased its holdings in shares of BorgWarner by 76.4% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 884 shares of the auto parts company’s stock worth $31,000 after buying an additional 383 shares during the last quarter. Eudaimonia Partners LLC acquired a new stake in shares of BorgWarner during the 3rd quarter worth approximately $37,000. CX Institutional increased its holdings in shares of BorgWarner by 489.9% during the 3rd quarter. CX Institutional now owns 991 shares of the auto parts company’s stock worth $38,000 after buying an additional 823 shares during the last quarter. Bay Harbor Wealth Management LLC increased its holdings in shares of BorgWarner by 138.9% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 1,013 shares of the auto parts company’s stock worth $39,000 after buying an additional 589 shares during the last quarter. Finally, CI Investments Inc. acquired a new stake in shares of BorgWarner during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 86.28% of the company’s stock.
In other news, VP Stefan Demmerle sold 3,125 shares of the business’s stock in a transaction that occurred on Monday, December 14th. The shares were sold at an average price of $36.85, for a total value of $115,156.25. Following the completion of the transaction, the vice president now owns 108,810 shares of the company’s stock, valued at $4,009,648.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.51% of the company’s stock.
BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, October 29th. The auto parts company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.13. BorgWarner had a net margin of 4.11% and a return on equity of 11.48%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the firm earned $0.96 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts anticipate that BorgWarner Inc. will post 2.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, November 30th. BorgWarner’s dividend payout ratio is presently 16.46%.
A number of research firms recently weighed in on BWA. Deutsche Bank Aktiengesellschaft increased their price objective on shares of BorgWarner from $44.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, October 13th. KeyCorp lowered their price objective on shares of BorgWarner from $53.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. Zacks Investment Research raised shares of BorgWarner from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a research report on Tuesday, October 6th. The Goldman Sachs Group reissued a “neutral” rating and issued a $36.00 price target on shares of BorgWarner in a research report on Wednesday, November 4th. Finally, Barclays cut shares of BorgWarner from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $45.00 to $42.00 in a research report on Thursday, October 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $44.40.
BorgWarner Company Profile
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. The company's Engine segment offers turbocharger and turbocharger actuators; eBoosters; and timing systems products, including timing chains, variable cam timing, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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