Public Employees Retirement Association of Colorado Decreases Position in BorgWarner Inc. (BWA)
Public Employees Retirement Association of Colorado lowered its stake in shares of BorgWarner Inc. (NYSE:BWA) by 2.7% during the third quarter, Holdings Channel reports. The institutional investor owned 43,288 shares of the company’s stock after selling 1,208 shares during the period. Public Employees Retirement Association of Colorado’s holdings in BorgWarner were worth $1,523,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Eaton Vance Management increased its stake in shares of BorgWarner by 0.4% in the second quarter. Eaton Vance Management now owns 9,639 shares of the company’s stock valued at $285,000 after buying an additional 39 shares in the last quarter. Washington Trust Bank increased its stake in shares of BorgWarner by 1.4% in the second quarter. Washington Trust Bank now owns 4,054 shares of the company’s stock valued at $120,000 after buying an additional 54 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of BorgWarner by 0.3% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 32,800 shares of the company’s stock valued at $968,000 after buying an additional 114 shares in the last quarter. World Asset Management Inc increased its stake in shares of BorgWarner by 0.6% in the second quarter. World Asset Management Inc now owns 22,157 shares of the company’s stock valued at $654,000 after buying an additional 143 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of BorgWarner by 0.8% in the second quarter. CIBC Asset Management Inc now owns 22,897 shares of the company’s stock valued at $676,000 after buying an additional 171 shares in the last quarter. 86.26% of the stock is owned by institutional investors and hedge funds.
BorgWarner Inc. (NYSE:BWA) traded down 2.24% during mid-day trading on Tuesday, hitting $34.46. The stock had a trading volume of 1,603,737 shares. The firm has a market cap of $7.34 billion, a PE ratio of 14.03 and a beta of 1.75. BorgWarner Inc. has a 52 week low of $27.52 and a 52 week high of $44.35. The company’s 50 day moving average price is $35.02 and its 200 day moving average price is $33.81.
BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. Analysts anticipate that BorgWarner Inc. will post $3.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a dividend of $0.14 per share. This is a boost from BorgWarner’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.63%. BorgWarner’s dividend payout ratio is 21.14%.
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A number of research firms have recently weighed in on BWA. Seaport Global Securities began coverage on BorgWarner in a report on Tuesday, August 9th. They set a “neutral” rating for the company. Buckingham Research began coverage on BorgWarner in a report on Tuesday, August 2nd. They set a “neutral” rating and a $33.00 target price for the company. Zacks Investment Research raised BorgWarner from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Bank of America Corp. downgraded BorgWarner from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $39.00 to $29.00 in a report on Wednesday, November 9th. Finally, Robert W. Baird reissued an “outperform” rating and set a $46.00 target price on shares of BorgWarner in a report on Wednesday, September 7th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. BorgWarner presently has a consensus rating of “Hold” and an average target price of $37.00.
BorgWarner Company Profile
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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