Raymond James & Associates lowered its position in shares of BorgWarner Inc. (NYSE:BWA) by 24.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 276,588 shares of the auto parts company’s stock after selling 87,880 shares during the period. Raymond James & Associates owned about 0.13% of BorgWarner worth $11,938,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Summit Trail Advisors LLC lifted its stake in BorgWarner by 2,949.9% during the first quarter. Summit Trail Advisors LLC now owns 126,937 shares of the auto parts company’s stock worth $127,000 after purchasing an additional 122,775 shares during the last quarter. Cerebellum GP LLC bought a new stake in BorgWarner during the second quarter worth about $166,000. Kohmann Bosshard Financial Services LLC bought a new stake in BorgWarner during the first quarter worth about $173,000. Private Capital Group LLC lifted its stake in BorgWarner by 197.0% during the first quarter. Private Capital Group LLC now owns 3,950 shares of the auto parts company’s stock worth $198,000 after purchasing an additional 2,620 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC bought a new stake in BorgWarner during the first quarter worth about $200,000. 91.62% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Thomas J. Mcgill sold 3,260 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $44.55, for a total transaction of $145,233.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Tonit M. Calaway sold 4,590 shares of the business’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $46.01, for a total value of $211,185.90. Following the transaction, the executive vice president now owns 34,982 shares in the company, valued at approximately $1,609,521.82. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.
BWA opened at $45.13 on Thursday. The stock has a market capitalization of $8.98 billion, a PE ratio of 10.00, a P/E/G ratio of 1.22 and a beta of 1.88. The company has a current ratio of 1.58, a quick ratio of 1.23 and a debt-to-equity ratio of 0.52. BorgWarner Inc. has a 12 month low of $42.06 and a 12 month high of $58.22.
BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, July 26th. The auto parts company reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.08. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.71 billion. BorgWarner had a return on equity of 22.83% and a net margin of 5.11%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 earnings per share. analysts predict that BorgWarner Inc. will post 4.4 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Tuesday, September 4th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 31st. This represents a $0.68 dividend on an annualized basis and a yield of 1.51%. BorgWarner’s dividend payout ratio is presently 17.48%.
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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