Cornercap Investment Counsel Inc. Invests $553,000 in BorgWarner Inc. (NYSE:BWA)

Cornercap Investment Counsel Inc. bought a new position in BorgWarner Inc. (NYSE:BWA) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 15,252 shares of the auto parts company’s stock, valued at approximately $553,000.

Several other large investors have also recently modified their holdings of the business. SG Americas Securities LLC boosted its position in shares of BorgWarner by 59.2% in the second quarter. SG Americas Securities LLC now owns 42,729 shares of the auto parts company’s stock valued at $1,378,000 after acquiring an additional 15,883 shares during the period. Bessemer Group Inc. boosted its position in shares of BorgWarner by 90.7% in the first quarter. Bessemer Group Inc. now owns 39,202 shares of the auto parts company’s stock valued at $1,363,000 after acquiring an additional 18,640 shares during the period. Edgestream Partners L.P. boosted its position in shares of BorgWarner by 419.7% in the first quarter. Edgestream Partners L.P. now owns 66,521 shares of the auto parts company’s stock valued at $2,311,000 after acquiring an additional 53,721 shares during the period. Toronto Dominion Bank boosted its position in shares of BorgWarner by 33.4% in the first quarter. Toronto Dominion Bank now owns 137,876 shares of the auto parts company’s stock valued at $4,790,000 after acquiring an additional 34,488 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of BorgWarner by 34.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 313,835 shares of the auto parts company’s stock valued at $10,903,000 after acquiring an additional 81,264 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analyst Weigh In

BWA has been the subject of several research analyst reports. Bank of America dropped their target price on shares of BorgWarner from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Wolfe Research initiated coverage on shares of BorgWarner in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. StockNews.com upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Barclays lifted their target price on shares of BorgWarner from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company dropped their target price on shares of BorgWarner from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, BorgWarner currently has an average rating of “Moderate Buy” and a consensus target price of $41.21.

BorgWarner Stock Up 0.2 %

Shares of NYSE BWA opened at $34.50 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.84 and a debt-to-equity ratio of 0.66. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $38.22. The firm’s fifty day moving average is $34.27 and its 200 day moving average is $33.98. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 0.72 and a beta of 1.20.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. The business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.50 billion. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. On average, equities research analysts expect that BorgWarner Inc. will post 4.2 earnings per share for the current year.

BorgWarner Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Monday, December 2nd. BorgWarner’s payout ratio is currently 11.17%.

Insider Buying and Selling at BorgWarner

In other BorgWarner news, CEO Frederic Lissalde sold 154,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.61, for a total transaction of $5,329,940.00. Following the transaction, the chief executive officer now directly owns 259,957 shares of the company’s stock, valued at approximately $8,997,111.77. The trade was a 37.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul Arthur Farrell sold 20,266 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $34.47, for a total transaction of $698,569.02. Following the completion of the sale, the executive vice president now directly owns 32,366 shares in the company, valued at $1,115,656.02. This represents a 38.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 179,966 shares of company stock valued at $6,225,843. 0.45% of the stock is currently owned by company insiders.

About BorgWarner

BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.