CIBC Asset Management Inc reduced its position in BorgWarner Inc. (NYSE:BWA) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,961 shares of the auto parts company’s stock after selling 424 shares during the quarter. CIBC Asset Management Inc’s holdings in BorgWarner were worth $695,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of BWA. Steward Partners Investment Advisory LLC bought a new position in BorgWarner in the second quarter worth $25,000. Westside Investment Management Inc. bought a new position in BorgWarner in the second quarter worth $27,000. Sandy Spring Bank bought a new position in BorgWarner in the second quarter worth $27,000. CSat Investment Advisory L.P. lifted its position in BorgWarner by 60.1% in the second quarter. CSat Investment Advisory L.P. now owns 1,531 shares of the auto parts company’s stock worth $64,000 after purchasing an additional 575 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in BorgWarner by 69.2% in the third quarter. Quadrant Capital Group LLC now owns 2,071 shares of the auto parts company’s stock worth $70,000 after purchasing an additional 847 shares during the period. 90.68% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on the company. Guggenheim assumed coverage on BorgWarner in a research report on Tuesday, October 15th. They issued a “neutral” rating for the company. Citigroup reduced their target price on BorgWarner from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Zacks Investment Research cut BorgWarner from a “hold” rating to a “sell” rating and set a $39.00 target price for the company. in a research report on Friday, September 27th. Deutsche Bank cut BorgWarner from a “buy” rating to a “hold” rating and reduced their target price for the stock from $50.00 to $44.00 in a research report on Friday, July 26th. Finally, Wolfe Research set a $50.00 target price on BorgWarner and gave the stock a “buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $45.33.
Shares of NYSE BWA opened at $46.31 on Friday. The stock has a market cap of $9.30 billion, a PE ratio of 10.34, a PEG ratio of 1.48 and a beta of 1.85. The business has a fifty day moving average of $38.56 and a two-hundred day moving average of $38.07. BorgWarner Inc. has a 52-week low of $30.71 and a 52-week high of $46.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.58.
BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, October 31st. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.11. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.39 billion. BorgWarner had a return on equity of 19.43% and a net margin of 7.43%. The business’s revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $1.00 earnings per share. Analysts predict that BorgWarner Inc. will post 3.92 earnings per share for the current year.
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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