Franklin Resources Inc. increased its position in BorgWarner Inc. (NYSE:BWA - Free Report) by 292.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 253,625 shares of the auto parts company's stock after purchasing an additional 189,081 shares during the quarter. Franklin Resources Inc. owned approximately 0.12% of BorgWarner worth $8,986,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BWA. Matrix Trust Co acquired a new stake in shares of BorgWarner during the 3rd quarter worth approximately $25,000. LRI Investments LLC boosted its stake in BorgWarner by 2,685.3% in the second quarter. LRI Investments LLC now owns 947 shares of the auto parts company's stock valued at $31,000 after acquiring an additional 913 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in BorgWarner during the 2nd quarter worth $32,000. Brooklyn Investment Group bought a new stake in shares of BorgWarner during the 3rd quarter valued at $32,000. Finally, True Wealth Design LLC acquired a new position in shares of BorgWarner in the 3rd quarter valued at $38,000. 95.67% of the stock is owned by institutional investors.
In other news, VP Stefan Demmerle sold 20,544 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $34.28, for a total transaction of $704,248.32. Following the sale, the vice president now owns 206,969 shares in the company, valued at $7,094,897.32. This represents a 9.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Paul Arthur Farrell sold 20,266 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $34.47, for a total value of $698,569.02. Following the completion of the sale, the executive vice president now directly owns 32,366 shares of the company's stock, valued at approximately $1,115,656.02. The trade was a 38.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 222,010 shares of company stock worth $7,678,076. Corporate insiders own 0.45% of the company's stock.
A number of equities research analysts recently commented on BWA shares. JPMorgan Chase & Co. decreased their price objective on BorgWarner from $51.00 to $50.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. The Goldman Sachs Group lowered their price target on BorgWarner from $38.00 to $36.00 and set a "neutral" rating for the company in a research note on Tuesday, October 1st. Evercore ISI raised shares of BorgWarner from an "in-line" rating to an "outperform" rating and lifted their price objective for the stock from $39.00 to $43.00 in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their target price on shares of BorgWarner from $38.00 to $39.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company reduced their price target on shares of BorgWarner from $42.00 to $40.00 and set an "overweight" rating on the stock in a research report on Monday, December 16th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $41.07.
View Our Latest Stock Report on BorgWarner
NYSE BWA opened at $31.88 on Friday. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $38.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.48 and a current ratio of 1.84. The stock's 50 day moving average price is $34.12 and its two-hundred day moving average price is $33.56. The stock has a market capitalization of $6.97 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 0.77 and a beta of 1.19.
BorgWarner (NYSE:BWA - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.17. The business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.50 billion. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. The firm's revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, analysts anticipate that BorgWarner Inc. will post 4.22 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Monday, December 2nd. BorgWarner's dividend payout ratio is currently 11.17%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider BorgWarner, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BorgWarner wasn't on the list.
While BorgWarner currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.