Adage Capital Partners GP L.L.C. Acquires 239,600 Shares of BorgWarner Inc. (NYSE:BWA)

Adage Capital Partners GP L.L.C. increased its holdings in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 111.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 454,306 shares of the auto parts company's stock after buying an additional 239,600 shares during the period. Adage Capital Partners GP L.L.C. owned 0.21% of BorgWarner worth $14,442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BWA. Avior Wealth Management LLC raised its position in shares of BorgWarner by 31.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company's stock valued at $46,000 after acquiring an additional 342 shares during the period. Janney Montgomery Scott LLC raised its holdings in BorgWarner by 0.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 54,432 shares of the auto parts company's stock worth $1,730,000 after purchasing an additional 381 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in BorgWarner by 0.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,168 shares of the auto parts company's stock worth $2,421,000 after purchasing an additional 393 shares during the period. Norinchukin Bank The grew its holdings in shares of BorgWarner by 4.4% in the 4th quarter. Norinchukin Bank The now owns 9,501 shares of the auto parts company's stock valued at $302,000 after buying an additional 402 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of BorgWarner by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 48,349 shares of the auto parts company's stock valued at $1,537,000 after buying an additional 450 shares in the last quarter. 95.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Tania Wingfield sold 24,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total transaction of $690,960.00. Following the completion of the sale, the executive vice president now owns 39,110 shares in the company, valued at approximately $1,125,976.90. This trade represents a 38.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Tonit M. Calaway sold 13,500 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $30.16, for a total transaction of $407,160.00. Following the completion of the transaction, the chief accounting officer now owns 259,310 shares in the company, valued at approximately $7,820,789.60. This trade represents a 4.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,800 shares of company stock valued at $1,347,701. 0.45% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on BWA shares. BNP Paribas raised BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 target price for the company in a research note on Tuesday, March 18th. Wells Fargo & Company boosted their price objective on BorgWarner from $40.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. cut their price target on shares of BorgWarner from $51.00 to $49.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Piper Sandler lowered their price objective on shares of BorgWarner from $43.00 to $36.00 and set an "overweight" rating for the company in a research report on Thursday, March 20th. Finally, Evercore ISI cut their price objective on shares of BorgWarner from $43.00 to $40.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $37.19.

BorgWarner Price Performance

NYSE:BWA opened at $28.28 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $28.14 and a 200 day simple moving average of $31.27. BorgWarner Inc. has a 1-year low of $24.40 and a 1-year high of $38.23. The stock has a market capitalization of $6.21 billion, a PE ratio of 19.78, a P/E/G ratio of 0.77 and a beta of 1.12.

BorgWarner (NYSE:BWA - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The auto parts company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.08. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. On average, research analysts expect that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.11 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.44 annualized dividend and a dividend yield of 1.56%. BorgWarner's dividend payout ratio is currently 30.77%.

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.

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