BorgWarner Inc. (BWA) Shares Bought by NEXT Financial Group Inc

BorgWarner Inc. (BWA) Shares Bought by NEXT Financial Group Inc

NEXT Financial Group Inc boosted its stake in BorgWarner Inc. (NYSE:BWA) by 1,972.0% during the third quarter, Holdings Channel reports. The firm owned 6,216 shares of the company’s stock after buying an additional 5,916 shares during the period. NEXT Financial Group Inc’s holdings in BorgWarner were worth $219,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BWA. Bank of Montreal Can purchased a new position in shares of BorgWarner during the second quarter valued at about $2,261,000. Essex Investment Management Co. LLC boosted its position in shares of BorgWarner by 3.6% in the second quarter. Essex Investment Management Co. LLC now owns 28,453 shares of the company’s stock valued at $840,000 after buying an additional 1,000 shares during the period. ING Groep NV purchased a new position in shares of BorgWarner during the second quarter valued at about $227,000. Trillium Asset Management LLC boosted its position in shares of BorgWarner by 1.9% in the second quarter. Trillium Asset Management LLC now owns 283,066 shares of the company’s stock valued at $8,356,000 after buying an additional 5,291 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of BorgWarner by 0.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 614,072 shares of the company’s stock valued at $18,127,000 after buying an additional 4,422 shares during the period. Hedge funds and other institutional investors own 87.59% of the company’s stock.

BorgWarner Inc. (NYSE:BWA) opened at 40.40 on Friday. The firm has a market capitalization of $8.60 billion, a price-to-earnings ratio of 16.45 and a beta of 1.71. BorgWarner Inc. has a one year low of $27.52 and a one year high of $41.98. The stock’s 50 day moving average price is $40.22 and its 200-day moving average price is $35.96.

BWA has been the topic of several research analyst reports. Goldman Sachs Group, Inc. (The) cut BorgWarner from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $37.00 to $35.00 in a research note on Thursday, October 6th. Bank of America Corporation cut BorgWarner from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $39.00 to $29.00 in a research note on Wednesday, November 9th. Berenberg Bank initiated coverage on BorgWarner in a research note on Tuesday, November 22nd. They set a “sell” rating and a $28.00 price objective on the stock. Jefferies Group LLC initiated coverage on BorgWarner in a research note on Wednesday, November 30th. They set a “buy” rating and a $43.00 price objective on the stock. Finally, Northcoast Research cut BorgWarner from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 13th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $38.36.

About BorgWarner

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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