BorgWarner Inc. (NYSE:BWA) Shares Purchased by Comerica Bank

Comerica Bank boosted its position in BorgWarner Inc. (NYSE:BWA - Free Report) by 23.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 94,198 shares of the auto parts company's stock after purchasing an additional 18,011 shares during the quarter. Comerica Bank's holdings in BorgWarner were worth $2,995,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. purchased a new stake in BorgWarner in the 4th quarter valued at $45,000. Avior Wealth Management LLC grew its holdings in shares of BorgWarner by 31.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company's stock valued at $46,000 after purchasing an additional 342 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in shares of BorgWarner in the fourth quarter valued at about $48,000. Quarry LP increased its position in BorgWarner by 110.6% during the fourth quarter. Quarry LP now owns 1,826 shares of the auto parts company's stock worth $58,000 after purchasing an additional 959 shares during the last quarter. Finally, Generali Asset Management SPA SGR purchased a new position in BorgWarner during the fourth quarter worth about $59,000. Hedge funds and other institutional investors own 95.67% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BWA. StockNews.com upgraded shares of BorgWarner from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. UBS Group reissued a "neutral" rating and set a $31.00 target price (down previously from $38.00) on shares of BorgWarner in a research note on Thursday, April 10th. BNP Paribas upgraded BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 target price on the stock in a research report on Tuesday, March 18th. Evercore ISI lowered their price target on BorgWarner from $43.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Finally, Morgan Stanley reduced their price objective on shares of BorgWarner from $45.00 to $40.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, BorgWarner has an average rating of "Moderate Buy" and an average target price of $37.00.

Insiders Place Their Bets

In other news, CAO Tonit M. Calaway sold 8,300 shares of BorgWarner stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.07, for a total transaction of $249,581.00. Following the completion of the sale, the chief accounting officer now directly owns 242,257 shares of the company's stock, valued at approximately $7,284,667.99. The trade was a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tania Wingfield sold 24,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total value 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 represents a 38.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,800 shares of company stock worth $1,347,701 in the last 90 days. Corporate insiders own 0.45% of the company's stock.

BorgWarner Stock Performance

Shares of BWA stock opened at $30.32 on Thursday. The firm has a 50 day moving average of $28.02 and a two-hundred day moving average of $30.98. The stock has a market capitalization of $6.66 billion, a PE ratio of 21.20, a P/E/G ratio of 0.77 and a beta of 1.08. The company has a quick ratio of 1.45, a current ratio of 1.79 and a debt-to-equity ratio of 0.66. BorgWarner Inc. has a 52 week low of $24.40 and a 52 week high of $38.23.

BorgWarner (NYSE:BWA - Get Free Report) last released its earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.13. The firm had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.39 billion. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. BorgWarner's revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. On average, research analysts predict that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.45%. 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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