Asahi Life Asset Management CO. LTD. purchased a new stake in shares of BorgWarner Inc. (NYSE:BWA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,800 shares of the auto parts company’s stock, valued at approximately $184,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bedel Financial Consulting Inc. bought a new position in BorgWarner during the second quarter valued at about $29,000. Harvest Fund Management Co. Ltd bought a new position in BorgWarner during the first quarter valued at about $31,000. Credit Agricole S A increased its stake in BorgWarner by 160.2% during the second quarter. Credit Agricole S A now owns 674 shares of the auto parts company’s stock valued at $33,000 after acquiring an additional 415 shares during the period. Cranbrook Wealth Management LLC bought a new position in BorgWarner during the first quarter valued at about $39,000. Finally, Allred Capital Management LLC bought a new position in BorgWarner during the first quarter valued at about $41,000. Hedge funds and other institutional investors own 92.85% of the company’s stock.
NYSE:BWA opened at $42.95 on Wednesday. The stock’s fifty day moving average price is $45.37 and its two-hundred day moving average price is $47.92. BorgWarner Inc. has a 52-week low of $34.30 and a 52-week high of $55.55. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.29 and a current ratio of 1.69. The company has a market cap of $10.30 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 0.77 and a beta of 1.51.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.58%. The ex-dividend date is Tuesday, August 31st. BorgWarner’s dividend payout ratio is 24.64%.
BWA has been the topic of several analyst reports. Robert W. Baird upped their price objective on BorgWarner from $53.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, June 9th. They noted that the move was a valuation call. Barclays lowered their price objective on BorgWarner from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Friday, August 6th. Finally, Wells Fargo & Company lowered their price objective on BorgWarner from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, September 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $49.43.
BorgWarner Company Profile
BorgWarner, Inc engages in the provision of technology solutions for combustion, hybrid and electric vehicles. It operates through the following segments: Air Management, e-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment develops and manufactures products to improve fuel economy, reduce emissions and enhance performance.
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