Rhumbline Advisers Reduces Stock Position in BorgWarner Inc. (NYSE:BWA)

Rhumbline Advisers trimmed its position in BorgWarner Inc. (NYSE:BWA) by 7.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 438,449 shares of the auto parts company’s stock after selling 34,417 shares during the period. Rhumbline Advisers’ holdings in BorgWarner were worth $14,136,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in shares of BorgWarner during the fourth quarter valued at approximately $75,489,000. Hotchkis & Wiley Capital Management LLC raised its holdings in BorgWarner by 43.5% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 2,213,630 shares of the auto parts company’s stock valued at $79,359,000 after acquiring an additional 670,720 shares during the last quarter. Swedbank AB purchased a new position in shares of BorgWarner during the 1st quarter worth $14,022,000. Vanguard Group Inc. boosted its holdings in shares of BorgWarner by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 27,147,545 shares of the auto parts company’s stock worth $973,239,000 after purchasing an additional 331,401 shares during the last quarter. Finally, AMF Tjanstepension AB purchased a new stake in shares of BorgWarner in the second quarter valued at $9,075,000. 95.67% of the stock is owned by institutional investors and hedge funds.

BorgWarner Stock Down 4.0 %

Shares of NYSE BWA opened at $31.55 on Wednesday. The stock has a fifty day moving average price of $32.77 and a 200 day moving average price of $33.52. The company has a current ratio of 1.62, a quick ratio of 1.26 and a debt-to-equity ratio of 0.52. BorgWarner Inc. has a 12-month low of $29.51 and a 12-month high of $42.27. The company has a market cap of $7.19 billion, a P/E ratio of 11.95, a P/E/G ratio of 0.73 and a beta of 1.20.

BorgWarner (NYSE:BWA) last announced its earnings results on Wednesday, July 31st. The auto parts company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.01 by $0.18. The business 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 company’s revenue was down 20.3% on a year-over-year basis. During the same period last year, the business posted $1.35 EPS. Research analysts anticipate that BorgWarner Inc. will post 4.1 EPS for the current fiscal year.

BorgWarner Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Tuesday, September 3rd. BorgWarner’s payout ratio is 16.67%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Barclays increased their target price on BorgWarner from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Bank of America cut their price objective on shares of BorgWarner from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Wells Fargo & Company lowered their target price on shares of BorgWarner from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. UBS Group increased their price target on shares of BorgWarner from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, StockNews.com upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.