Zurcher Kantonalbank Zurich Cantonalbank Has $1.61 Million Stock Position in BorgWarner Inc. (NYSE:BWA)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of BorgWarner Inc. (NYSE:BWA) by 24.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,014 shares of the auto parts company’s stock after purchasing an additional 9,743 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in BorgWarner were worth $1,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in BorgWarner by 32.3% in the fourth quarter. Van ECK Associates Corp now owns 83,395 shares of the auto parts company’s stock valued at $2,990,000 after buying an additional 20,361 shares during the period. First Trust Direct Indexing L.P. lifted its stake in shares of BorgWarner by 13.4% in the 4th quarter. First Trust Direct Indexing L.P. now owns 7,173 shares of the auto parts company’s stock valued at $257,000 after purchasing an additional 848 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of BorgWarner by 187.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 5,714 shares of the auto parts company’s stock worth $205,000 after purchasing an additional 3,725 shares during the last quarter. National Bank of Canada FI grew its stake in shares of BorgWarner by 5.8% during the fourth quarter. National Bank of Canada FI now owns 56,427 shares of the auto parts company’s stock worth $2,028,000 after purchasing an additional 3,099 shares during the period. Finally, Sheets Smith Wealth Management bought a new stake in BorgWarner in the fourth quarter valued at about $625,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BorgWarner

In other news, EVP Tania Wingfield sold 2,066 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 46,016 shares of the company’s stock, valued at approximately $1,472,512. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Tonit M. Calaway sold 10,868 shares of BorgWarner stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $31.74, for a total transaction of $344,950.32. Following the completion of the transaction, the chief accounting officer now owns 206,083 shares in the company, valued at $6,541,074.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tania Wingfield sold 2,066 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 46,016 shares in the company, valued at approximately $1,472,512. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BWA. JPMorgan Chase & Co. raised their target price on BorgWarner from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Bank of America decreased their price objective on shares of BorgWarner from $50.00 to $45.00 and set a “buy” rating for the company in a report on Monday, July 22nd. UBS Group increased their target price on shares of BorgWarner from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Barclays boosted their price target on shares of BorgWarner from $45.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company dropped their price objective on BorgWarner from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.07.

BorgWarner Trading Up 0.5 %

NYSE:BWA opened at $34.07 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. BorgWarner Inc. has a twelve month low of $29.51 and a twelve month high of $42.27. The company has a market cap of $7.76 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 0.77 and a beta of 1.22. The business has a 50 day moving average price of $32.71 and a two-hundred day moving average price of $33.41.

BorgWarner (NYSE:BWA) last released its earnings results on Wednesday, July 31st. The auto parts company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.18. BorgWarner had a net margin of 4.97% and a return on equity of 15.50%. 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 firm earned $1.35 earnings per share. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, analysts expect that BorgWarner Inc. will post 4.1 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.44 annualized dividend and a yield of 1.29%. BorgWarner’s dividend payout ratio (DPR) is presently 16.67%.

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.