TD Asset Management Inc Reduces Holdings in BorgWarner Inc. (NYSE:BWA)

TD Asset Management Inc cut its position in BorgWarner Inc. (NYSE:BWA) by 39.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 43,005 shares of the auto parts company’s stock after selling 28,170 shares during the quarter. TD Asset Management Inc’s holdings in BorgWarner were worth $1,386,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BWA. Vanguard Group Inc. raised its position in shares of BorgWarner by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 27,147,545 shares of the auto parts company’s stock valued at $973,239,000 after purchasing an additional 331,401 shares in the last quarter. Earnest Partners LLC boosted its stake in BorgWarner by 1.1% during the 1st quarter. Earnest Partners LLC now owns 3,310,639 shares of the auto parts company’s stock valued at $115,012,000 after acquiring an additional 35,709 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in BorgWarner by 43.5% during 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. Norges Bank acquired a new position in BorgWarner during the 4th quarter worth $75,489,000. Finally, Silvercrest Asset Management Group LLC increased its position in shares of BorgWarner by 8.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,004,423 shares of the auto parts company’s stock worth $69,634,000 after purchasing an additional 159,271 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

BorgWarner Trading Up 0.7 %

BorgWarner stock opened at $32.21 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $32.79 and a two-hundred day moving average price of $33.53. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 0.87 and a beta of 1.20. BorgWarner Inc. has a 52-week low of $29.51 and a 52-week high of $42.27.

BorgWarner (NYSE:BWA) last announced its earnings results on Wednesday, July 31st. The auto parts company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.18. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the business earned $1.35 EPS. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. Sell-side analysts expect that BorgWarner Inc. will post 4.1 earnings per share for the current year.

BorgWarner Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be given a $0.11 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 1.37%. BorgWarner’s dividend payout ratio is presently 16.67%.

Analyst Ratings Changes

BWA has been the subject of a number of research reports. UBS Group lifted their price target on BorgWarner from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research began coverage on BorgWarner in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Citigroup dropped their price target on BorgWarner from $41.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $36.00 target price on shares of BorgWarner in a research note on Tuesday, September 10th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, BorgWarner currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.07.

Insider Buying and Selling at BorgWarner

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

BorgWarner Company 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.