Synovus Financial Corp raised its stake in BorgWarner (NYSE:BWA) by 4.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,841 shares of the auto parts company’s stock after purchasing an additional 2,007 shares during the quarter. Synovus Financial Corp’s holdings in BorgWarner were worth $2,555,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Advisors Preferred LLC purchased a new stake in shares of BorgWarner in the fourth quarter worth approximately $119,000. Cerebellum GP LLC purchased a new stake in shares of BorgWarner in the fourth quarter worth approximately $119,000. Calton & Associates Inc. purchased a new stake in shares of BorgWarner in the fourth quarter worth approximately $150,000. CENTRAL TRUST Co raised its stake in shares of BorgWarner by 60.8% in the fourth quarter. CENTRAL TRUST Co now owns 4,090 shares of the auto parts company’s stock worth $209,000 after purchasing an additional 1,546 shares during the last quarter. Finally, Arcadia Investment Management Corp MI raised its stake in shares of BorgWarner by 37.0% in the fourth quarter. Arcadia Investment Management Corp MI now owns 4,625 shares of the auto parts company’s stock worth $236,000 after purchasing an additional 1,250 shares during the last quarter. 95.15% of the stock is owned by hedge funds and other institutional investors.
Shares of BWA opened at $50.61 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.52 and a quick ratio of 1.19. The company has a market cap of $10.63 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.43 and a beta of 1.81. BorgWarner has a 12 month low of $39.80 and a 12 month high of $58.22.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, May 31st. BorgWarner’s dividend payout ratio is currently 17.48%.
Several analysts have recently commented on BWA shares. Zacks Investment Research downgraded BorgWarner from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Barclays reissued a “hold” rating and issued a $58.00 price objective on shares of BorgWarner in a research note on Sunday, January 21st. ValuEngine raised BorgWarner from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada raised BorgWarner from a “sector perform” rating to an “outperform” rating in a research note on Friday, February 9th. Finally, Wells Fargo increased their price objective on BorgWarner from $55.00 to $56.00 and gave the stock a “market perform” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $54.63.
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates through two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; and timing systems, such as timing chains, variable cam timing products, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains for light vehicles, and hybrid power transmission chains.
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