Victory Capital Management Inc. lifted its stake in shares of BorgWarner Inc. (NYSE:BWA) by 6.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,159,790 shares of the auto parts company’s stock after acquiring an additional 317,222 shares during the quarter. Victory Capital Management Inc.’s holdings in BorgWarner were worth $198,188,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in BorgWarner by 33.4% in the third quarter. JPMorgan Chase & Co. now owns 6,635,725 shares of the auto parts company’s stock worth $283,875,000 after purchasing an additional 1,661,618 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of BorgWarner by 528.9% during the third quarter. Nordea Investment Management AB now owns 727,224 shares of the auto parts company’s stock valued at $31,109,000 after acquiring an additional 611,596 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of BorgWarner by 1.7% during the third quarter. Legal & General Group Plc now owns 1,027,833 shares of the auto parts company’s stock valued at $43,971,000 after acquiring an additional 17,602 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of BorgWarner by 2.5% during the third quarter. Vanguard Group Inc now owns 21,712,547 shares of the auto parts company’s stock valued at $928,863,000 after acquiring an additional 522,490 shares in the last quarter. Finally, Federated Investors Inc. PA increased its holdings in shares of BorgWarner by 17,436.7% during the third quarter. Federated Investors Inc. PA now owns 576,081 shares of the auto parts company’s stock valued at $24,645,000 after acquiring an additional 572,796 shares in the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.
NYSE:BWA traded down $0.72 during midday trading on Friday, hitting $37.86. The company’s stock had a trading volume of 244,738 shares, compared to its average volume of 1,653,682. BorgWarner Inc. has a fifty-two week low of $32.46 and a fifty-two week high of $53.28. The company has a current ratio of 1.62, a quick ratio of 1.27 and a debt-to-equity ratio of 0.44. The company has a market cap of $7.90 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 1.26 and a beta of 1.74.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.17 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.68 annualized dividend and a yield of 1.80%. BorgWarner’s dividend payout ratio (DPR) is presently 15.18%.
In related news, Director Thomas T. Stallkamp sold 6,260 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $42.00, for a total value of $262,920.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas J. Mcgill sold 2,400 shares of the stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $41.97, for a total transaction of $100,728.00. Following the completion of the transaction, the chief financial officer now owns 32,958 shares in the company, valued at approximately $1,383,247.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,784 shares of company stock worth $1,230,456. 0.75% of the stock is owned by corporate insiders.
Several equities analysts have recently issued reports on BWA shares. Bank of America restated a “neutral” rating and set a $46.00 price objective (up previously from $42.00) on shares of BorgWarner in a report on Tuesday, April 23rd. ValuEngine downgraded shares of BorgWarner from a “sell” rating to a “strong sell” rating in a report on Friday, February 8th. Morgan Stanley set a $49.00 price objective on shares of BorgWarner and gave the company a “buy” rating in a report on Friday, February 15th. Robert W. Baird upgraded shares of BorgWarner to a “top pick” rating in a report on Friday, February 15th. Finally, Zacks Investment Research downgraded shares of BorgWarner from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. BorgWarner currently has an average rating of “Buy” and an average target price of $48.83.
BorgWarner Company Profile
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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