Bbva Compass Bancshares Inc. Raises Stake in BorgWarner Inc. (BWA)
Bbva Compass Bancshares Inc. raised its stake in BorgWarner Inc. (NYSE:BWA) by 0.0% during the third quarter, Holdings Channel reports. The firm owned 111,129 shares of the company’s stock after buying an additional 36 shares during the period. Bbva Compass Bancshares Inc.’s holdings in BorgWarner were worth $3,910,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of BWA. JPMorgan Chase & Co. increased its position in shares of BorgWarner by 284.3% in the third quarter. JPMorgan Chase & Co. now owns 4,994,064 shares of the company’s stock valued at $175,693,000 after buying an additional 3,694,451 shares during the period. Harris Associates L P increased its position in shares of BorgWarner by 18.5% in the second quarter. Harris Associates L P now owns 10,074,318 shares of the company’s stock valued at $297,394,000 after buying an additional 1,570,440 shares during the period. Black Creek Investment Management Inc. increased its position in shares of BorgWarner by 286.9% in the second quarter. Black Creek Investment Management Inc. now owns 1,596,059 shares of the company’s stock valued at $47,116,000 after buying an additional 1,183,559 shares during the period. Becker Capital Management Inc. acquired a new position in shares of BorgWarner during the second quarter valued at $29,462,000. Finally, First Trust Advisors LP increased its position in shares of BorgWarner by 269.0% in the third quarter. First Trust Advisors LP now owns 1,259,254 shares of the company’s stock valued at $44,301,000 after buying an additional 918,008 shares during the period. Institutional investors own 86.26% of the company’s stock.
Shares of BorgWarner Inc. (NYSE:BWA) traded up 3.31% during mid-day trading on Wednesday, hitting $35.60. The company had a trading volume of 3,188,229 shares. BorgWarner Inc. has a 12 month low of $27.52 and a 12 month high of $44.35. The firm has a 50-day moving average of $35.01 and a 200-day moving average of $33.81. The company has a market cap of $7.58 billion, a PE ratio of 14.50 and a beta of 1.75.
BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. BorgWarner had a return on equity of 18.50% and a net margin of 6.01%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the business earned $0.73 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, analysts expect that BorgWarner Inc. will post $3.26 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a $0.14 dividend. The ex-dividend date is Tuesday, November 29th. This is an increase from BorgWarner’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.57%. BorgWarner’s payout ratio is 21.14%.
Several research firms have commented on BWA. Goldman Sachs Group Inc. lowered BorgWarner from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $37.00 to $35.00 in a research report on Thursday, October 6th. Robert W. Baird reiterated an “outperform” rating and set a $46.00 target price on shares of BorgWarner in a research report on Wednesday, September 7th. Bank of America Corp. lowered BorgWarner from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $39.00 to $29.00 in a research report on Wednesday, November 9th. Buckingham Research initiated coverage on BorgWarner in a research report on Tuesday, August 2nd. They set a “neutral” rating and a $33.00 target price on the stock. Finally, Seaport Global Securities initiated coverage on BorgWarner in a research report on Tuesday, August 9th. They set a “neutral” rating on the stock. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. BorgWarner has a consensus rating of “Hold” and an average price target of $37.46.
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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