Empirical Finance LLC Has $853,000 Position in BorgWarner Inc. (NYSE:BWA)

Empirical Finance LLC reduced its stake in shares of BorgWarner Inc. (NYSE:BWA) by 76.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,579 shares of the auto parts company’s stock after selling 58,045 shares during the quarter. Empirical Finance LLC’s holdings in BorgWarner were worth $853,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Pinnacle Associates Ltd. grew its position in shares of BorgWarner by 10.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 73,088 shares of the auto parts company’s stock valued at $3,388,000 after purchasing an additional 6,912 shares during the period. Fifth Third Bancorp grew its position in shares of BorgWarner by 12.4% in the 1st quarter. Fifth Third Bancorp now owns 135,984 shares of the auto parts company’s stock valued at $6,304,000 after purchasing an additional 15,054 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of BorgWarner by 158.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 265,828 shares of the auto parts company’s stock valued at $12,323,000 after purchasing an additional 163,029 shares during the period. Mutual of America Capital Management LLC grew its position in shares of BorgWarner by 1.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 31,353 shares of the auto parts company’s stock valued at $1,522,000 after purchasing an additional 296 shares during the period. Finally, Strategic Investment Advisors MI grew its position in shares of BorgWarner by 67.4% in the 2nd quarter. Strategic Investment Advisors MI now owns 14,677 shares of the auto parts company’s stock valued at $712,000 after purchasing an additional 5,908 shares during the period. Institutional investors own 92.85% of the company’s stock.

Shares of BorgWarner stock opened at $42.95 on Wednesday. BorgWarner Inc. has a 12-month low of $34.30 and a 12-month high of $55.55. The business’s 50 day moving average is $45.37 and its 200-day moving average is $47.92. The company has a quick ratio of 1.29, a current ratio of 1.69 and a debt-to-equity ratio of 0.62. The stock has a market cap of $10.30 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.77 and a beta of 1.51.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Tuesday, August 3rd. The auto parts company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.28. BorgWarner had a return on equity of 15.95% and a net margin of 5.49%. The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the prior year, the business earned ($0.14) EPS. The firm’s revenue for the quarter was up 163.5% on a year-over-year basis. On average, sell-side analysts expect that BorgWarner Inc. will post 4.22 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Tuesday, August 31st. BorgWarner’s dividend payout ratio is 24.64%.

Several research firms have commented on BWA. Barclays cut their target price on BorgWarner from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Friday, August 6th. Wells Fargo & Company cut their target price on BorgWarner from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, September 10th. Finally, Robert W. Baird boosted their target price on BorgWarner from $53.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, June 9th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, BorgWarner currently has an average rating of “Buy” and a consensus price target of $49.43.

BorgWarner Company Profile

BorgWarner, Inc engages in the provision of technology solutions for combustion, hybrid and electric vehicles. It operates through the following segments: Air Management, e-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment develops and manufactures products to improve fuel economy, reduce emissions and enhance performance.

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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