Redpoint Investment Management Pty Ltd Purchases New Position in BorgWarner Inc. (NYSE:BWA)

Redpoint Investment Management Pty Ltd bought a new position in shares of BorgWarner Inc. (NYSE:BWAGet Rating) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,414 shares of the auto parts company’s stock, valued at approximately $214,000.

A number of other large investors have also bought and sold shares of BWA. Black Creek Investment Management Inc. increased 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 worth $184,627,000 after purchasing an additional 828,901 shares in the last quarter. American Century Companies Inc. increased its stake in BorgWarner by 13.9% during the 1st quarter. American Century Companies Inc. now owns 5,971,750 shares of the auto parts company’s stock worth $232,302,000 after purchasing an additional 729,562 shares in the last quarter. Invesco Ltd. increased its stake in BorgWarner by 24.7% during the 1st quarter. Invesco Ltd. now owns 3,637,381 shares of the auto parts company’s stock worth $141,495,000 after purchasing an additional 720,690 shares in the last quarter. APG Asset Management N.V. increased its stake in BorgWarner by 4,883.9% during the 1st quarter. APG Asset Management N.V. now owns 624,926 shares of the auto parts company’s stock worth $21,848,000 after purchasing an additional 612,387 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in BorgWarner by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 26,131,243 shares of the auto parts company’s stock worth $1,016,505,000 after purchasing an additional 570,039 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup increased their target price on BorgWarner from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, August 4th. TheStreet cut shares of BorgWarner from a “b-” rating to a “c+” rating in a research note on Friday, July 15th. Wells Fargo & Company raised their price target on shares of BorgWarner from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday, July 11th. StockNews.com raised shares of BorgWarner from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Finally, Royal Bank of Canada raised their price target on shares of BorgWarner from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 4th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $47.70.

BorgWarner Price Performance

NYSE:BWA opened at $36.98 on Monday. BorgWarner Inc. has a 1-year low of $32.28 and a 1-year 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 fifty day simple moving average of $37.45 and a 200 day simple moving average of $37.32. The stock has a market capitalization of $8.76 billion, a PE ratio of 13.75, a P/E/G ratio of 0.32 and a beta of 1.37.

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

BorgWarner Dividend Announcement

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

BorgWarner 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.

Further Reading

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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