Chevy Chase Trust Holdings LLC Has $4.05 Million Stock Position in BorgWarner Inc. (NYSE:BWA)

Chevy Chase Trust Holdings LLC lessened its position in shares of BorgWarner Inc. (NYSE:BWA) by 1.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 125,584 shares of the auto parts company’s stock after selling 1,731 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in BorgWarner were worth $4,049,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BWA. Norges Bank bought a new stake in BorgWarner in the fourth quarter worth approximately $75,489,000. Victory Capital Management Inc. lifted its position in shares of BorgWarner by 10.9% during the 4th quarter. Victory Capital Management Inc. now owns 9,668,438 shares of the auto parts company’s stock valued at $346,614,000 after acquiring an additional 948,659 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in BorgWarner by 43.5% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 2,213,630 shares of the auto parts company’s stock worth $79,359,000 after acquiring an additional 670,720 shares in the last quarter. Swedbank AB acquired a new stake in shares of BorgWarner in the 1st quarter valued at about $14,022,000. Finally, Vanguard Group Inc. grew its stake in BorgWarner by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 27,147,545 shares of the auto parts company’s stock valued at $973,239,000 after acquiring an additional 331,401 shares during the period. Institutional investors own 95.67% of the company’s stock.

Insider Activity at BorgWarner

In other news, CAO Tonit M. Calaway sold 10,868 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $31.74, for a total value of $344,950.32. Following the completion of the sale, the chief accounting officer now directly owns 206,083 shares in the company, valued at approximately $6,541,074.42. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Tonit M. Calaway sold 10,868 shares of BorgWarner stock in a transaction on Monday, August 5th. The shares were sold at an average price of $31.74, for a total value of $344,950.32. Following the transaction, the chief accounting officer now owns 206,083 shares in the company, valued at approximately $6,541,074.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Tania Wingfield sold 2,066 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.00, for a total value of $66,112.00. Following the completion of the sale, the executive vice president now directly owns 46,016 shares of the company’s stock, valued at approximately $1,472,512. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by insiders.

BorgWarner Stock Down 0.5 %

BorgWarner stock opened at $32.89 on Friday. The firm has a 50 day simple moving average of $32.61 and a 200 day simple moving average of $33.34. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 0.52. BorgWarner Inc. has a 1-year low of $29.51 and a 1-year high of $42.27. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 0.78 and a beta of 1.22.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.18. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.69 billion. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The firm’s revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.35 earnings per share. On average, analysts predict that BorgWarner Inc. will post 4.06 earnings per share for the current year.

BorgWarner declared that its Board of Directors has approved a stock repurchase program on Thursday, May 2nd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the auto parts company to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

BorgWarner Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.44 annualized dividend and a dividend yield of 1.34%. BorgWarner’s dividend payout ratio (DPR) is presently 16.67%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of BorgWarner from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. StockNews.com raised shares of BorgWarner from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Oppenheimer increased their price objective on BorgWarner from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Robert W. Baird lifted their target price on BorgWarner from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, UBS Group raised their price objective on BorgWarner from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.07.

BorgWarner Profile

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.