Commerce Bank increased its position in BorgWarner Inc. (NYSE:BWA) by 6,346.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 399,680 shares of the auto parts company’s stock after acquiring an additional 393,480 shares during the quarter. Commerce Bank owned about 0.19% of BorgWarner worth $20,475,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its stake in BorgWarner by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 19,211 shares of the auto parts company’s stock worth $814,000 after purchasing an additional 61 shares during the period. Hanson & Doremus Investment Management boosted its stake in BorgWarner by 0.9% in the 2nd quarter. Hanson & Doremus Investment Management now owns 8,895 shares of the auto parts company’s stock worth $377,000 after purchasing an additional 75 shares during the period. Contravisory Investment Management Inc. boosted its stake in BorgWarner by 1.3% in the 2nd quarter. Contravisory Investment Management Inc. now owns 6,356 shares of the auto parts company’s stock worth $269,000 after purchasing an additional 79 shares during the period. Cutter & CO Brokerage Inc. boosted its stake in BorgWarner by 1.7% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 5,270 shares of the auto parts company’s stock worth $223,000 after purchasing an additional 90 shares during the period. Finally, MML Investors Services LLC boosted its stake in BorgWarner by 1.2% in the 2nd quarter. MML Investors Services LLC now owns 7,407 shares of the auto parts company’s stock worth $314,000 after purchasing an additional 91 shares during the period. 92.75% of the stock is owned by institutional investors.
In related news, EVP Tonit M. Calaway sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total transaction of $134,970.00. Following the transaction, the executive vice president now directly owns 34,120 shares of the company’s stock, valued at approximately $1,535,058.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.66% of the company’s stock.
Shares of BorgWarner Inc. (NYSE:BWA) traded down $0.39 during midday trading on Thursday, hitting $51.68. The company had a trading volume of 1,063,600 shares, compared to its average volume of 1,833,507. The stock has a market cap of $10,978.36, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75. The company has a current ratio of 1.43, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. BorgWarner Inc. has a 52 week low of $34.11 and a 52 week high of $53.84.
BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.07. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.26 billion. BorgWarner had a return on equity of 21.48% and a net margin of 3.09%. BorgWarner’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.78 EPS. sell-side analysts anticipate that BorgWarner Inc. will post 3.82 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.32%. This is a boost from BorgWarner’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, November 30th. BorgWarner’s dividend payout ratio (DPR) is currently 40.58%.
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Several brokerages have commented on BWA. BMO Capital Markets raised their target price on BorgWarner from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, October 30th. Citigroup Inc. raised their target price on BorgWarner from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Barclays PLC set a $50.00 target price on BorgWarner and gave the stock a “hold” rating in a research note on Friday, October 20th. Buckingham Research raised their target price on BorgWarner from $37.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, October 19th. Finally, UBS AG raised their target price on BorgWarner from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $47.72.
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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