683 Capital Management LLC Reduces Holdings in BorgWarner Inc. (NYSE:BWA)

683 Capital Management LLC reduced its stake in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 75.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 175,000 shares of the auto parts company's stock after selling 525,000 shares during the quarter. 683 Capital Management LLC owned 0.08% of BorgWarner worth $5,563,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Truist Financial Corp increased its holdings in shares of BorgWarner by 4.0% during the 4th quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company's stock valued at $487,000 after purchasing an additional 595 shares in the last quarter. Norges Bank purchased a new position in BorgWarner in the fourth quarter valued at $62,180,000. State of Alaska Department of Revenue raised its position in shares of BorgWarner by 96.3% in the fourth quarter. State of Alaska Department of Revenue now owns 51,935 shares of the auto parts company's stock worth $1,650,000 after acquiring an additional 25,475 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of BorgWarner during the 4th quarter worth about $1,197,000. Finally, AIA Group Ltd acquired a new stake in shares of BorgWarner during the 4th quarter valued at about $1,599,000. 95.67% of the stock is owned by institutional investors and hedge funds.

BorgWarner Trading Up 0.7 %

NYSE:BWA traded up $0.20 on Monday, hitting $29.48. The stock had a trading volume of 2,087,015 shares, compared to its average volume of 2,749,700. The company has a fifty day moving average price of $28.03 and a two-hundred day moving average price of $31.04. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 0.77 and a beta of 1.12. 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 1-year low of $24.40 and a 1-year high of $38.23.

BorgWarner (NYSE:BWA - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The auto parts company reported $1.01 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.49%. BorgWarner's payout ratio is 30.77%.

Insider Activity

In other news, CAO Tonit M. Calaway sold 13,500 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $30.16, for a total value of $407,160.00. Following the completion of the sale, the chief accounting officer now directly owns 259,310 shares of the company's stock, valued at approximately $7,820,789.60. The trade was a 4.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tania Wingfield sold 24,000 shares of the company'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 directly owns 39,110 shares of the company's stock, valued at $1,125,976.90. The trade was a 38.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,800 shares of company stock worth $1,347,701. 0.45% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BWA has been the subject of several recent analyst reports. The Goldman Sachs Group raised shares of BorgWarner from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $31.00 to $34.00 in a report on Thursday, April 10th. StockNews.com upgraded shares of BorgWarner from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. BNP Paribas upgraded BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 price objective on the stock in a report on Tuesday, March 18th. Guggenheim reduced their target price on BorgWarner from $38.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Robert W. Baird lowered their price target on BorgWarner from $34.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

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.