Estabrook Capital Management Marginally Decreases Its Stake in Borgwarner Inc (BWA) Last Quarter


Borgwarner Inc (NYSE:BWA).

Estabrook Capital Management says it lowered its position in Borgwarner Inc shares by 367 shares in its quarterly SEC filing. Its investment stood at $213,732,000 an increase of $21,460,000 as of quarter end.

Here are a few institutional investors who have updated their positions. Legal & General Group Plc added to its ownership by buying 12,689 shares an increase of 2.9%. Legal & General Group Plc controls 452,682 shares with a value of $23,184,000. The value of the position overall is up by 24.4%. As of quarter end Tiaa Cref Investment Management LLC had disposed of a total of 1,844 shares trimming its holdings by 0.2%. The value of the investment in BWA increased from $39,151,000 to $47,255,000 a change of 20.7% quarter to quarter.

As of the end of the quarter Schwab Charles Investment Management Inc had bought 9,298 shares growing its position 1.0%. The value in dollars went from $41,425,000 to $50,575,000 increasing 22.1% quarter over quarter.

Equity analyst KeyCorp raised the price target on October 13 changing the price objective from $50.00 to $56.00 with a rating of “Buy”.

Buckingham Research raised the price target on October 19 boosting the projection from $37.00 to $45.00 with a “Neutral” recommendation. Barclays PLC released research on BWA stating a rating of “Hold” and establishing a price target of $50.00.

BMO Capital Markets raised the price target of the stock on October 30 changing the forecast from $60.00 to $65.00 and issued a “Outperform” rating. Equity analyst Citigroup raised the price target of the stock on October 30 changing the price objective from $50.00 to $54.00 and issued a “Neutral” recommendation.

The company is now down by 0.02% percent from yesterday’s close. The company currently has a P/E ratio of 37.35 and market capitalization is 10.89B. In the last earnings report the EPS was $1.38 with 210.84M shares outstanding.

Investors are more bullish on the company lately as shown by the fall in short interest. The company realized a fall in short interest between October 13, 2017 and October 31, 2017 of -9.09%. Short shares decreased 1,146,602 over that period. The short-interest ratio decreased to 8.0 and the short interest percentage is 0.05% as of October 31.