Keene & Associates Inc. Purchases 583 Shares of BorgWarner Inc. (NYSE:BWA)

Keene & Associates Inc. boosted its stake in shares of BorgWarner Inc. (NYSE:BWA) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,823 shares of the auto parts company’s stock after buying an additional 583 shares during the quarter. BorgWarner makes up approximately 2.7% of Keene & Associates Inc.’s portfolio, making the stock its 16th largest holding. Keene & Associates Inc.’s holdings in BorgWarner were worth $3,550,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BWA. Matrix Trust Co purchased a new stake in BorgWarner in the third quarter valued at approximately $25,000. Riverview Trust Co purchased a new stake in BorgWarner in the first quarter worth approximately $30,000. LRI Investments LLC grew its position in BorgWarner by 2,685.3% during 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 bought a new position in BorgWarner during the second quarter valued at approximately $32,000. Finally, Olistico Wealth LLC bought a new stake in shares of BorgWarner in the 2nd quarter worth approximately $35,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BWA shares. Wolfe Research began coverage on BorgWarner in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Barclays lifted their target price on shares of BorgWarner from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group dropped their price target on shares of BorgWarner from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Wells Fargo & Company decreased their price objective on shares of BorgWarner from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, BorgWarner presently has a consensus rating of “Moderate Buy” and an average target price of $41.25.

BorgWarner Price Performance

Shares of NYSE:BWA opened at $34.12 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $7.77 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 0.81 and a beta of 1.20. The firm’s 50 day moving average price is $33.95 and its 200-day moving average price is $33.89. BorgWarner Inc. has a twelve month low of $29.51 and a twelve month high of $39.10.

BorgWarner (NYSE:BWA) last released its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $1.19 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the firm earned $1.35 earnings per share. The company’s quarterly revenue was down 20.3% on a year-over-year basis. Equities research analysts expect that BorgWarner Inc. will post 4.1 EPS for the current year.

Insider Buying and Selling at BorgWarner

In other news, CAO Tonit M. Calaway sold 10,868 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $31.74, for a total value of $344,950.32. Following the transaction, the chief accounting officer now owns 206,083 shares of the company’s stock, valued at $6,541,074.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Tonit M. Calaway sold 10,868 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $31.74, for a total value of $344,950.32. Following the transaction, the chief accounting officer now directly owns 206,083 shares in the company, valued at $6,541,074.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tania Wingfield sold 2,066 shares of the business’s 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 transaction, the executive vice president now directly owns 46,016 shares in the company, valued at approximately $1,472,512. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.

BorgWarner Company 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.