Mirae Asset Global Investments Co. Ltd. Grows Stake in BorgWarner Inc. (NYSE:BWA)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 74.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,409 shares of the auto parts company’s stock after purchasing an additional 7,414 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in BorgWarner were worth $640,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BWA. SG Americas Securities LLC lifted its position in shares of BorgWarner by 59.2% during the 2nd quarter. SG Americas Securities LLC now owns 42,729 shares of the auto parts company’s stock worth $1,378,000 after buying an additional 15,883 shares during the last quarter. Bessemer Group Inc. boosted its stake in 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 in the last quarter. Edgestream Partners L.P. grew its holdings in shares of BorgWarner by 419.7% during the first quarter. Edgestream Partners L.P. now owns 66,521 shares of the auto parts company’s stock worth $2,311,000 after purchasing an additional 53,721 shares during the last quarter. Toronto Dominion Bank increased its position in shares of BorgWarner by 33.4% during the first quarter. Toronto Dominion Bank now owns 137,876 shares of the auto parts company’s stock worth $4,790,000 after purchasing an additional 34,488 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. lifted its holdings in shares of BorgWarner by 14.3% in the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 383,185 shares of the auto parts company’s stock valued at $13,312,000 after purchasing an additional 48,020 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

BorgWarner Price Performance

Shares of NYSE BWA opened at $33.44 on Friday. 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 one year low of $29.51 and a one year high of $38.22. The firm has a market capitalization of $7.62 billion, a P/E ratio of 10.75, a PEG ratio of 0.73 and a beta of 1.20. The company’s fifty day moving average is $34.06 and its two-hundred day moving average is $33.86.

BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. BorgWarner had a net margin of 4.97% and a return on equity of 15.50%. The firm had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The firm’s revenue was down 4.8% on a year-over-year basis. Analysts forecast that BorgWarner Inc. will post 4.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on BWA shares. Evercore ISI upgraded BorgWarner from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $39.00 to $43.00 in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $36.00 target price on shares of BorgWarner in a report on Tuesday, September 10th. Bank of America decreased their price target on shares of BorgWarner from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. dropped their price objective on shares of BorgWarner from $51.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, StockNews.com upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, BorgWarner presently has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Insider Activity at BorgWarner

In other BorgWarner news, EVP Tania Wingfield sold 2,066 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other BorgWarner news, EVP Tania Wingfield sold 2,066 shares of the company’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 sale, the executive vice president now owns 46,016 shares of the company’s stock, valued at $1,472,512. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Tonit M. Calaway sold 10,868 shares of the firm’s stock in a transaction that occurred 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 approximately $6,541,074.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company 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.