Victory Capital Management Inc. Buys 824,302 Shares of BorgWarner Inc. (NYSE:BWA)

Victory Capital Management Inc. lifted its stake in shares of BorgWarner Inc. (NYSE:BWA) by 16.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,984,092 shares of the auto parts company’s stock after acquiring an additional 824,302 shares during the period. BorgWarner makes up about 0.5% of Victory Capital Management Inc.’s investment portfolio, making the stock its 20th largest holding. Victory Capital Management Inc.’s holdings in BorgWarner were worth $251,212,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of BWA. Vanguard Group Inc. boosted its position in shares of BorgWarner by 0.3% in the second quarter. Vanguard Group Inc. now owns 22,246,568 shares of the auto parts company’s stock valued at $933,911,000 after acquiring an additional 62,875 shares during the period. Diamond Hill Capital Management Inc. increased its stake in BorgWarner by 0.5% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 9,987,152 shares of the auto parts company’s stock valued at $419,261,000 after purchasing an additional 45,220 shares in the last quarter. Geode Capital Management LLC increased its stake in BorgWarner by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 3,190,378 shares of the auto parts company’s stock valued at $110,671,000 after purchasing an additional 219,190 shares in the last quarter. Invesco Ltd. increased its stake in BorgWarner by 41.2% during the 2nd quarter. Invesco Ltd. now owns 2,760,862 shares of the auto parts company’s stock valued at $115,901,000 after purchasing an additional 805,905 shares in the last quarter. Finally, Northern Trust Corp increased its stake in BorgWarner by 1.6% during the 2nd quarter. Northern Trust Corp now owns 2,568,334 shares of the auto parts company’s stock valued at $107,818,000 after purchasing an additional 39,297 shares in the last quarter. 90.97% of the stock is owned by institutional investors.

Shares of BorgWarner stock traded down $0.26 on Friday, hitting $36.77. The stock had a trading volume of 2,876,047 shares, compared to its average volume of 1,682,233. The stock has a 50 day moving average of $34.32 and a 200 day moving average of $38.43. BorgWarner Inc. has a twelve month low of $30.71 and a twelve month high of $46.37. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.31 and a current ratio of 1.66. The firm has a market capitalization of $7.65 billion, a P/E ratio of 8.21, a PEG ratio of 1.23 and a beta of 1.87.

BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, July 25th. The auto parts company reported $1.00 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.00. BorgWarner had a return on equity of 20.13% and a net margin of 7.53%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm posted $1.18 earnings per share. The firm’s revenue was down 5.3% compared to the same quarter last year. Equities analysts expect that BorgWarner Inc. will post 3.88 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.85%. The ex-dividend date was Friday, August 30th. BorgWarner’s dividend payout ratio (DPR) is currently 15.18%.

A number of analysts have commented on the company. Morgan Stanley set a $47.00 price objective on BorgWarner and gave the stock a “buy” rating in a report on Wednesday, June 26th. Robert W. Baird set a $51.00 target price on shares of BorgWarner and gave the stock a “buy” rating in a research note on Friday, July 26th. TheStreet downgraded shares of BorgWarner from a “b-” rating to a “c+” rating in a research report on Thursday, August 22nd. Royal Bank of Canada downgraded shares of BorgWarner from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $44.00 to $41.00 in a research report on Friday, July 26th. Finally, Barclays reaffirmed a “buy” rating and issued a $44.00 target price on shares of BorgWarner in a report on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $45.60.

BorgWarner Profile

BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.

Read More: Cost of Capital Explained

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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