Seven Eight Capital LP Takes Position in BorgWarner Inc. (NYSE:BWA)

Seven Eight Capital LP acquired a new position in BorgWarner Inc. (NYSE:BWA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,457 shares of the auto parts company’s stock, valued at approximately $692,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Riverview Trust Co acquired a new position in shares of BorgWarner during the 1st quarter worth $30,000. LRI Investments LLC acquired a new position in BorgWarner during the first quarter worth $35,000. Sentry Investment Management LLC acquired a new stake in shares of BorgWarner in the second quarter worth about $32,000. Olistico Wealth LLC bought a new stake in shares of BorgWarner during the 2nd quarter worth about $35,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of BorgWarner by 12,144.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,102 shares of the auto parts company’s stock worth $38,000 after acquiring an additional 1,093 shares in the last quarter. Institutional investors own 95.67% of the company’s stock.

Insider Activity at BorgWarner

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 transaction of $344,950.32. Following the sale, the chief accounting officer now directly owns 206,083 shares of the company’s stock, valued at $6,541,074.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Tonit M. Calaway sold 10,868 shares of the 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 sale, the chief accounting officer now owns 206,083 shares in the company, valued at $6,541,074.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tania Wingfield sold 2,066 shares of BorgWarner 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 completion of the transaction, the executive vice president now directly owns 46,016 shares of the company’s stock, valued at $1,472,512. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by insiders.

BorgWarner Trading Down 2.1 %

Shares of BWA stock opened at $33.40 on Friday. The firm has a fifty day moving average of $32.87 and a 200-day moving average of $33.60. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 12.65, a P/E/G 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 $41.50. 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 (NYSE:BWA) last posted its earnings results on Wednesday, July 31st. The auto parts company reported $1.19 EPS for the quarter, topping 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 business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the company earned $1.35 EPS. BorgWarner’s revenue was down 20.3% on a year-over-year basis. On average, equities research analysts forecast that BorgWarner Inc. will post 4.1 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Tuesday, September 3rd. BorgWarner’s dividend payout ratio (DPR) is currently 16.67%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BWA. Bank of America reduced their target price on BorgWarner from $50.00 to $45.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Robert W. Baird upped their price objective on shares of BorgWarner from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Citigroup lowered their target price on shares of BorgWarner from $41.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Wolfe Research began coverage on shares of BorgWarner in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, UBS Group raised their price target on BorgWarner from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.