Maverick Capital Ltd. Lowers Holdings in BorgWarner Inc. (NYSE:BWA)

Maverick Capital Ltd. lessened its stake in BorgWarner Inc. (NYSE:BWA) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,461 shares of the auto parts company’s stock after selling 2,435 shares during the quarter. Maverick Capital Ltd. owned 0.08% of BorgWarner worth $3,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Asset Advisory Services LLC bought a new stake in shares of BorgWarner during the 4th quarter valued at about $28,000. CSat Investment Advisory L.P. lifted its holdings in BorgWarner by 20.4% in the 1st quarter. CSat Investment Advisory L.P. now owns 2,162 shares of the auto parts company’s stock worth $53,000 after purchasing an additional 366 shares in the last quarter. Aviva PLC raised its holdings in shares of BorgWarner by 0.5% during the 1st quarter. Aviva PLC now owns 72,576 shares of the auto parts company’s stock worth $1,769,000 after acquiring an additional 380 shares in the last quarter. MML Investors Services LLC raised its holdings in shares of BorgWarner by 2.7% during the 1st quarter. MML Investors Services LLC now owns 15,206 shares of the auto parts company’s stock worth $371,000 after acquiring an additional 403 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. raised its holdings in BorgWarner by 5.8% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 7,829 shares of the auto parts company’s stock valued at $340,000 after buying an additional 430 shares during the period. 98.28% of the stock is owned by hedge funds and other institutional investors.

BWA traded down $1.78 during trading on Wednesday, hitting $33.64. The company’s stock had a trading volume of 526,290 shares, compared to its average volume of 3,726,518. The company has a current ratio of 1.76, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. BorgWarner Inc. has a twelve month low of $17.00 and a twelve month high of $46.60. The business’s fifty day simple moving average is $31.72 and its 200 day simple moving average is $33.18. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 2.08 and a beta of 1.74.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Wednesday, May 6th. The auto parts company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.28. BorgWarner had a return on equity of 17.15% and a net margin of 7.24%. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the business posted $1.00 earnings per share. The firm’s revenue was down 11.2% compared to the same quarter last year. As a group, equities research analysts forecast that BorgWarner Inc. will post 1.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.68 annualized dividend and a dividend yield of 2.02%. BorgWarner’s dividend payout ratio is presently 16.46%.

BWA has been the topic of several recent research reports. ValuEngine lowered BorgWarner from a “hold” rating to a “sell” rating in a report on Tuesday, March 3rd. Cfra raised BorgWarner from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Tuesday, March 31st. Barclays upped their price objective on BorgWarner from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Wolfe Research raised BorgWarner from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective on the stock in a research report on Thursday, May 28th. Finally, Citigroup dropped their price target on BorgWarner from $35.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. BorgWarner presently has a consensus rating of “Hold” and a consensus price target of $39.94.

In other BorgWarner news, VP Brady D. Ericson sold 10,279 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $36.65, for a total transaction of $376,725.35. Also, VP Brady D. Ericson sold 29,156 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $31.43, for a total value of $916,373.08. Following the sale, the vice president now directly owns 35,892 shares of the company’s stock, valued at $1,128,085.56. The disclosure for this sale can be found here. Insiders sold a total of 83,935 shares of company stock worth $2,888,093 in the last quarter. Company insiders own 0.51% of the company’s stock.

About BorgWarner

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.

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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