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

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

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings 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 worth $973,239,000 after buying an additional 331,401 shares during the last quarter. Earnest Partners LLC raised its holdings in BorgWarner by 1.1% in the 1st quarter. Earnest Partners LLC now owns 3,310,639 shares of the auto parts company’s stock worth $115,012,000 after acquiring an additional 35,709 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position 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 in the last quarter. Norges Bank bought a new stake in shares of BorgWarner in the 4th quarter worth $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 worth $69,634,000 after purchasing an additional 159,271 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

BorgWarner Stock Performance

BWA opened at $32.90 on Wednesday. The firm has a market cap of $7.50 billion, a P/E ratio of 12.46, a PEG ratio of 0.87 and a beta of 1.20. BorgWarner Inc. has a 1-year low of $29.51 and a 1-year high of $42.27. The company has a 50 day simple moving average of $32.81 and a two-hundred day simple moving average of $33.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.26.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results 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. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the business posted $1.35 EPS. BorgWarner’s revenue for the quarter was down 20.3% compared to the same quarter last year. Equities analysts forecast that BorgWarner Inc. will post 4.1 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BWA shares. Barclays lifted their price objective on BorgWarner from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Citigroup lowered their price objective on shares of BorgWarner from $41.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Robert W. Baird lifted their target price on shares of BorgWarner from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Wells Fargo & Company lowered their price target on BorgWarner from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Finally, Bank of America cut their price objective on BorgWarner from $50.00 to $45.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.07.

Insider Buying and Selling at BorgWarner

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 transaction of $66,112.00. Following the completion of the transaction, the executive vice president now owns 46,016 shares in the company, valued at $1,472,512. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other BorgWarner news, EVP Tania Wingfield sold 2,066 shares of the business’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 owns 46,016 shares in the company, valued at approximately $1,472,512. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Tonit M. Calaway sold 10,868 shares of the firm’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 transaction, the chief accounting officer now owns 206,083 shares of the company’s stock, valued at approximately $6,541,074.42. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

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.