Daiwa Securities Group Inc. Sells 13,850 Shares of BorgWarner Inc. (NYSE:BWA)

Daiwa Securities Group Inc. decreased its holdings in BorgWarner Inc. (NYSE:BWA) by 60.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,161 shares of the auto parts company’s stock after selling 13,850 shares during the period. Daiwa Securities Group Inc.’s holdings in BorgWarner were worth $295,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BWA. Vanguard Group Inc. lifted its stake 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 during the last quarter. Earnest Partners LLC lifted its position in BorgWarner by 1.1% in the first quarter. Earnest Partners LLC now owns 3,310,639 shares of the auto parts company’s stock worth $115,012,000 after buying an additional 35,709 shares during the last quarter. 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 buying an additional 670,720 shares during the period. Norges Bank bought a new position in BorgWarner during the fourth quarter valued at $75,489,000. Finally, Silvercrest Asset Management Group LLC raised its stake in shares of BorgWarner by 8.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,004,423 shares of the auto parts company’s stock valued at $69,634,000 after acquiring an additional 159,271 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Insider Buying and Selling at BorgWarner

In related 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 transaction of $344,950.32. Following the completion of the transaction, the chief accounting officer now owns 206,083 shares in the company, valued at approximately $6,541,074.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other BorgWarner 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 directly owns 206,083 shares of the company’s stock, valued at $6,541,074.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tania Wingfield sold 2,066 shares of the 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 owns 46,016 shares of the company’s stock, valued at approximately $1,472,512. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

BorgWarner Price Performance

NYSE BWA opened at $32.90 on Wednesday. The company has a market cap of $7.50 billion, a PE ratio of 12.46, a P/E/G ratio of 0.87 and a beta of 1.20. The firm’s 50 day moving average price is $32.81 and its 200-day moving average price is $33.56. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.26 and a current ratio of 1.62. 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 (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 analysts’ expectations of $3.69 billion. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.35 EPS. Sell-side analysts forecast that BorgWarner Inc. will post 4.1 EPS for the current fiscal year.

BorgWarner Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.11 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 1.34%. BorgWarner’s dividend payout ratio is presently 16.67%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BWA. JPMorgan Chase & Co. upped their price target on shares of BorgWarner from $50.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Bank of America reduced their price target on BorgWarner from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Wolfe Research began coverage on BorgWarner in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Robert W. Baird increased their target price on BorgWarner from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Citigroup lowered their target price on shares of BorgWarner from $41.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.07.

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.