Columbia Asset Management Reduces Position in BorgWarner Inc. (NYSE:BWA)

Columbia Asset Management decreased its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 25.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,573 shares of the auto parts company’s stock after selling 5,800 shares during the quarter. Columbia Asset Management’s holdings in BorgWarner were worth $702,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BWA. BlackRock Inc. boosted its holdings in shares of BorgWarner by 3,228.4% during the first quarter. BlackRock Inc. now owns 13,090,582 shares of the auto parts company’s stock worth $547,056,000 after purchasing an additional 12,697,279 shares during the last quarter. Pioneer Investment Management Inc. boosted its holdings in shares of BorgWarner by 56.7% during the first quarter. Pioneer Investment Management Inc. now owns 3,288,289 shares of the auto parts company’s stock worth $137,417,000 after purchasing an additional 1,190,369 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of BorgWarner by 3.2% during the first quarter. Vanguard Group Inc. now owns 20,162,288 shares of the auto parts company’s stock worth $842,583,000 after purchasing an additional 616,244 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of BorgWarner by 16.1% during the second quarter. Victory Capital Management Inc. now owns 3,854,638 shares of the auto parts company’s stock worth $163,282,000 after purchasing an additional 533,701 shares during the last quarter. Finally, Strs Ohio raised its position in shares of BorgWarner by 3,368.8% in the 2nd quarter. Strs Ohio now owns 548,001 shares of the auto parts company’s stock worth $23,213,000 after buying an additional 532,203 shares during the period. Institutional investors and hedge funds own 91.11% of the company’s stock.

Several research analysts recently weighed in on BWA shares. Morgan Stanley cut their target price on BorgWarner from $34.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday, June 9th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $56.00 target price on shares of BorgWarner in a research report on Tuesday, August 29th. Zacks Investment Research raised BorgWarner from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Wednesday, June 7th. ValuEngine lowered BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $55.00 target price (up from $50.00) on shares of BorgWarner in a research report on Friday, July 28th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. BorgWarner has a consensus rating of “Hold” and an average price target of $44.00.

In related news, insider Brady D. Ericson sold 11,052 shares of BorgWarner stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total transaction of $501,539.76. Following the sale, the insider now directly owns 23,418 shares of the company’s stock, valued at approximately $1,062,708.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tonit M. Calaway sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total transaction of $134,970.00. Following the sale, the executive vice president now directly owns 34,120 shares in the company, valued at $1,535,058.80. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

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Shares of BorgWarner Inc. (NYSE BWA) traded up 1.02% during mid-day trading on Friday, hitting $48.76. The stock had a trading volume of 2,096,404 shares. The firm’s 50 day moving average price is $45.87 and its 200-day moving average price is $43.06. The company has a market cap of $10.29 billion, a PE ratio of 54.36 and a beta of 1.73. BorgWarner Inc. has a one year low of $33.09 and a one year high of $49.00.

BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.07. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.27 billion. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 EPS. On average, equities research analysts anticipate that BorgWarner Inc. will post $3.70 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, August 30th. BorgWarner’s dividend payout ratio (DPR) is presently 62.92%.

About BorgWarner

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.

Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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