Sequoia Financial Advisors LLC decreased its position in BorgWarner Inc. (NYSE:BWA – Free Report) by 16.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 8,360 shares of the auto parts company’s stock after selling 1,686 shares during the period. Sequoia Financial Advisors LLC’s holdings in BorgWarner were worth $240,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of BWA. Norges Bank acquired a new stake in shares of BorgWarner in the 4th quarter valued at about $62,180,000. Bank of America Corp DE grew its holdings in shares of BorgWarner by 91.9% in the 4th quarter. Bank of America Corp DE now owns 3,878,932 shares of the auto parts company’s stock valued at $123,311,000 after acquiring an additional 1,857,907 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of BorgWarner by 8,137.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,299,057 shares of the auto parts company’s stock valued at $41,297,000 after acquiring an additional 1,283,287 shares in the last quarter. LSV Asset Management grew its holdings in shares of BorgWarner by 22.5% in the 4th quarter. LSV Asset Management now owns 4,308,145 shares of the auto parts company’s stock valued at $136,956,000 after acquiring an additional 792,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of BorgWarner by 7.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,284,040 shares of the auto parts company’s stock valued at $358,720,000 after acquiring an additional 753,344 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.
BorgWarner Trading Down 0.7%
BorgWarner stock opened at $35.29 on Friday. BorgWarner Inc. has a 52 week low of $24.40 and a 52 week high of $37.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.60 and a current ratio of 1.97. The stock has a market capitalization of $7.75 billion, a P/E ratio of 28.23, a PEG ratio of 1.55 and a beta of 1.09. The stock has a 50-day simple moving average of $32.51 and a 200 day simple moving average of $30.70.
BorgWarner (NYSE:BWA – Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The auto parts company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.13. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.39 billion. BorgWarner had a return on equity of 16.13% and a net margin of 2.06%. BorgWarner’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company posted $1.03 earnings per share. Analysts expect that BorgWarner Inc. will post 4.28 earnings per share for the current year.
BorgWarner Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.25%. BorgWarner’s dividend payout ratio (DPR) is presently 35.20%.
Analyst Ratings Changes
Several brokerages have recently weighed in on BWA. Barclays decreased their price objective on BorgWarner from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company raised their price objective on BorgWarner from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday. The Goldman Sachs Group upgraded BorgWarner from a “neutral” rating to a “buy” rating and raised their price objective for the company from $31.00 to $34.00 in a report on Thursday, April 10th. Piper Sandler restated an “overweight” rating and issued a $37.00 price objective (up previously from $36.00) on shares of BorgWarner in a report on Thursday, May 22nd. Finally, Bank of America raised their price objective on BorgWarner from $35.00 to $41.00 and gave the company a “buy” rating in a report on Monday, June 16th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.53.
Check Out Our Latest Research Report on BorgWarner
Insider Activity at BorgWarner
In other BorgWarner news, VP Isabelle Mckenzie sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $33.25, for a total transaction of $166,250.00. Following the completion of the sale, the vice president directly owned 63,445 shares in the company, valued at $2,109,546.25. This trade represents a 7.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Tonit M. Calaway sold 27,736 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $32.83, for a total transaction of $910,572.88. Following the sale, the executive vice president owned 214,521 shares of the company’s stock, valued at $7,042,724.43. This trade represents a 11.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.45% of the company’s stock.
BorgWarner Company Profile
(Free Report)
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.
Further Reading
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