Point72 Asset Management L.P. Reduces Stake in BorgWarner Inc. (NYSE:BWA)

Point72 Asset Management L.P. lowered its position in BorgWarner Inc. (NYSE:BWA - Free Report) by 26.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,569,861 shares of the auto parts company's stock after selling 553,270 shares during the period. Point72 Asset Management L.P. owned approximately 0.72% of BorgWarner worth $49,906,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BWA. LRI Investments LLC boosted its stake in BorgWarner by 1,515.0% in the 4th quarter. LRI Investments LLC now owns 969 shares of the auto parts company's stock worth $31,000 after purchasing an additional 909 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in BorgWarner during the fourth quarter worth about $45,000. Avior Wealth Management LLC lifted its holdings in 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 acquiring an additional 342 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in BorgWarner in the 4th quarter worth approximately $48,000. Finally, Quarry LP grew its stake in shares of BorgWarner by 110.6% during the 4th 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 period. 95.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on BWA. The Goldman Sachs Group upgraded shares of BorgWarner from a "neutral" rating to a "buy" rating and raised their price target for the company from $31.00 to $34.00 in a research report on Thursday, April 10th. Evercore ISI lowered their target price on shares of BorgWarner from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, February 10th. Piper Sandler cut their price target on BorgWarner from $43.00 to $36.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. Robert W. Baird increased their price target on BorgWarner from $29.00 to $32.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, UBS Group raised their price objective on BorgWarner from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $37.67.

Insider Buying and Selling at BorgWarner

In other BorgWarner news, EVP Tonit M. Calaway sold 27,736 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $32.83, for a total value of $910,572.88. Following the completion of the transaction, the executive vice president now owns 214,521 shares of the company's stock, valued at $7,042,724.43. This trade represents a 11.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Tania Wingfield sold 24,000 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total value of $690,960.00. Following the transaction, 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. Insiders sold a total of 60,036 shares of company stock worth $1,851,114 over the last three months. Insiders own 0.45% of the company's stock.

BorgWarner Price Performance

NYSE BWA traded down $0.27 during trading hours on Monday, hitting $33.06. 2,000,313 shares of the company's stock traded hands, compared to its average volume of 2,762,627. The company has a market capitalization of $7.26 billion, a PE ratio of 23.12, a PEG ratio of 0.77 and a beta of 1.08. The firm's 50-day moving average is $28.48 and its 200-day moving average is $30.87. 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 0.66, a current ratio of 1.79 and a quick ratio of 1.45.

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

BorgWarner Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.33%. BorgWarner's payout ratio is currently 35.20%.

About BorgWarner

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.