Perigon Wealth Management LLC purchased a new position in shares of BorgWarner Inc. (NYSE:BWA) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 8,058 shares of the company’s stock, valued at approximately $346,000.
Several other hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp increased its stake in shares of BorgWarner by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 2,531 shares of the company’s stock worth $100,000 after buying an additional 142 shares during the last quarter. SRS Capital Advisors Inc. bought a new stake in shares of BorgWarner during the fourth quarter worth about $102,000. TLP Group LLC increased its stake in shares of BorgWarner by 86.7% in the third quarter. TLP Group LLC now owns 3,660 shares of the company’s stock worth $129,000 after buying an additional 1,700 shares during the last quarter. First Bank & Trust bought a new stake in shares of BorgWarner during the fourth quarter worth about $162,000. Finally, SRB Corp increased its stake in shares of BorgWarner by 7.2% in the third quarter. SRB Corp now owns 4,587 shares of the company’s stock worth $161,000 after buying an additional 309 shares during the last quarter. 92.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BorgWarner Inc. (NYSE:BWA) opened at 41.79 on Friday. The stock’s 50 day moving average is $42.09 and its 200 day moving average is $38.54. BorgWarner Inc. has a 52-week low of $27.52 and a 52-week high of $44.24. The company has a market cap of $8.89 billion, a PE ratio of 75.98 and a beta of 1.64.
BorgWarner (NYSE:BWA) last issued its earnings results on Thursday, February 9th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. BorgWarner had a return on equity of 19.21% and a net margin of 1.31%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the company earned $0.75 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. Equities analysts forecast that BorgWarner Inc. will post $3.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Monday, February 27th. BorgWarner’s dividend payout ratio (DPR) is presently 109.81%.
A number of brokerages have recently issued reports on BWA. Barclays PLC raised their price target on shares of BorgWarner from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, February 10th. BMO Capital Markets initiated coverage on shares of BorgWarner in a report on Tuesday, December 20th. They issued an “outperform” rating and a $50.00 price objective on the stock. Evercore ISI downgraded shares of BorgWarner from a “buy” rating to a “hold” rating and raised their price objective for the stock from $38.00 to $42.00 in a report on Wednesday, January 4th. They noted that the move was a valuation call. Northcoast Research downgraded shares of BorgWarner from a “buy” rating to a “neutral” rating in a report on Tuesday, December 13th. Finally, Jefferies Group LLC raised their price objective on shares of BorgWarner from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, January 30th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. BorgWarner has an average rating of “Hold” and a consensus target price of $39.64.
In other news, Director Alexis P. Michas sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $42.68, for a total transaction of $426,800.00. Following the sale, the director now owns 82,778 shares of the company’s stock, valued at approximately $3,532,965.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is currently owned by company insiders.
BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.
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