Ronald Blue Trust Inc. trimmed its position in BorgWarner Inc. (NYSE:BWA – Free Report) by 89.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 824 shares of the auto parts company’s stock after selling 6,689 shares during the period. Ronald Blue Trust Inc.’s holdings in BorgWarner were worth $40,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Bell Bank bought a new stake in BorgWarner during the 1st quarter worth approximately $215,000. Truist Financial Corp increased its stake in BorgWarner by 75.8% during the 1st quarter. Truist Financial Corp now owns 60,769 shares of the auto parts company’s stock worth $2,984,000 after purchasing an additional 26,202 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in BorgWarner by 4.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 785,202 shares of the auto parts company’s stock worth $38,561,000 after purchasing an additional 31,659 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in BorgWarner by 2.2% during the 1st quarter. Treasurer of the State of North Carolina now owns 171,616 shares of the auto parts company’s stock worth $8,428,000 after purchasing an additional 3,668 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in BorgWarner by 6.4% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,966 shares of the auto parts company’s stock worth $293,000 after purchasing an additional 360 shares in the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
BWA has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of BorgWarner from $59.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, July 20th. Barclays decreased their price target on shares of BorgWarner from $58.00 to $57.00 in a research note on Monday, July 10th. Nomura Instinet reaffirmed a “neutral” rating and set a $44.00 price target on shares of BorgWarner in a research note on Thursday, August 17th. Bank of America raised shares of BorgWarner from a “neutral” rating to a “buy” rating and raised their price target for the stock from $54.00 to $67.00 in a research note on Thursday, July 6th. Finally, StockNews.com initiated coverage on shares of BorgWarner in a research note on Sunday, September 10th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, BorgWarner presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.64.
BorgWarner Trading Down 0.8 %
Shares of BorgWarner stock opened at $40.38 on Friday. The business has a fifty day simple moving average of $41.49 and a two-hundred day simple moving average of $44.90. BorgWarner Inc. has a 1 year low of $31.19 and a 1 year high of $51.14. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 0.89 and a beta of 1.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.62 and a quick ratio of 1.18.
BorgWarner (NYSE:BWA – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.21. BorgWarner had a return on equity of 15.45% and a net margin of 5.63%. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.39 billion. Research analysts forecast that BorgWarner Inc. will post 3.76 EPS for the current year.
About BorgWarner
BorgWarner Inc 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, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging.
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