BorgWarner Inc. (NYSE:BWA) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of BorgWarner Inc. (NYSE:BWAGet Rating) by 8.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,226 shares of the auto parts company’s stock after selling 15,213 shares during the period. PNC Financial Services Group Inc. owned 0.07% of BorgWarner worth $6,544,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BWA. State Street Corp increased its position in shares of BorgWarner by 3.7% during the fourth quarter. State Street Corp now owns 10,247,042 shares of the auto parts company’s stock worth $461,834,000 after purchasing an additional 369,492 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of BorgWarner by 3.9% during the first quarter. Victory Capital Management Inc. now owns 10,109,422 shares of the auto parts company’s stock worth $393,159,000 after buying an additional 375,207 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of BorgWarner by 0.5% in the first quarter. Diamond Hill Capital Management Inc. now owns 6,834,363 shares of the auto parts company’s stock worth $265,857,000 after buying an additional 32,953 shares in the last quarter. American Century Companies Inc. boosted its position in BorgWarner by 13.9% during the first quarter. American Century Companies Inc. now owns 5,971,750 shares of the auto parts company’s stock worth $232,302,000 after acquiring an additional 729,562 shares during the last quarter. Finally, Black Creek Investment Management Inc. grew its stake in BorgWarner by 21.2% during the 1st quarter. Black Creek Investment Management Inc. now owns 4,746,184 shares of the auto parts company’s stock valued at $184,627,000 after acquiring an additional 828,901 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

BorgWarner Stock Down 0.9 %

Shares of BWA opened at $37.02 on Friday. The company’s 50-day moving average price is $36.78 and its 200 day moving average price is $37.76. BorgWarner Inc. has a 12-month low of $32.28 and a 12-month high of $50.09. The company has a current ratio of 1.77, a quick ratio of 1.32 and a debt-to-equity ratio of 0.58. The firm has a market cap of $8.77 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 0.29 and a beta of 1.39.

BorgWarner (NYSE:BWAGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The auto parts company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.20. The business had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.70 billion. BorgWarner had a net margin of 4.36% and a return on equity of 13.13%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 EPS. On average, sell-side analysts forecast that BorgWarner Inc. will post 4.27 earnings per share for the current year.

BorgWarner Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.68 annualized dividend and a dividend yield of 1.84%. BorgWarner’s dividend payout ratio is currently 25.28%.

Analyst Ratings Changes

BWA has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of BorgWarner from a “hold” rating to a “buy” rating and raised their target price for the stock from $43.00 to $48.00 in a research note on Monday, July 18th. Citigroup lifted their price objective on BorgWarner from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. TheStreet cut BorgWarner from a “b-” rating to a “c+” rating in a report on Friday, July 15th. Morgan Stanley reiterated a “maintains” rating and set a $32.00 price target (up previously from $30.00) on shares of BorgWarner in a report on Thursday, August 4th. Finally, StockNews.com raised shares of BorgWarner from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, BorgWarner currently has an average rating of “Hold” and an average price target of $44.67.

BorgWarner Company Profile

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BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. The company operates through four segments: Air Management, E-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging.

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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