CANADA LIFE ASSURANCE Co Acquires 44,499 Shares of BorgWarner Inc. (NYSE:BWA)

CANADA LIFE ASSURANCE Co increased its holdings in BorgWarner Inc. (NYSE:BWA - Free Report) by 33.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,613 shares of the auto parts company's stock after purchasing an additional 44,499 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.08% of BorgWarner worth $5,613,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BWA. Resona Asset Management Co. Ltd. bought a new stake in BorgWarner in the fourth quarter worth $45,000. Avior Wealth Management LLC increased its position in BorgWarner by 31.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company's stock worth $46,000 after buying an additional 342 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of BorgWarner in the third quarter valued at approximately $62,000. Generali Asset Management SPA SGR bought a new position in BorgWarner during the fourth quarter worth $59,000. Finally, Principal Securities Inc. boosted its holdings in BorgWarner by 59.1% in the 4th quarter. Principal Securities Inc. now owns 1,939 shares of the auto parts company's stock valued at $62,000 after purchasing an additional 720 shares during the period. Hedge funds and other institutional investors own 95.67% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BWA. TD Cowen cut shares of BorgWarner from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research note on Friday, March 7th. Piper Sandler cut their target price on BorgWarner from $43.00 to $36.00 and set an "overweight" rating for the company in a research report on Thursday, March 20th. StockNews.com upgraded BorgWarner from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Robert W. Baird dropped their target price on shares of BorgWarner from $34.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Finally, BNP Paribas raised shares of BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 price objective on the stock in a research note on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.19.

BorgWarner Stock Up 0.7 %

Shares of NYSE:BWA traded up $0.20 during mid-day trading on Tuesday, reaching $28.50. 245,277 shares of the stock were exchanged, compared to its average volume of 2,777,582. The company has a market cap of $6.26 billion, a P/E ratio of 19.97, a P/E/G ratio of 0.77 and a beta of 1.12. BorgWarner Inc. has a one year low of $24.40 and a one year high of $38.23. The stock's 50 day simple moving average is $28.11 and its 200-day simple moving average is $31.22. 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 (NYSE:BWA - Get Free Report) last released its earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share 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%. As a group, equities research analysts predict that BorgWarner Inc. will post 4.28 EPS for the current 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 of this dividend was Monday, March 3rd. This represents a $0.44 annualized dividend and a dividend yield of 1.54%. BorgWarner's dividend payout ratio is currently 30.77%.

Insider Buying and Selling at BorgWarner

In other BorgWarner news, CAO Tonit M. Calaway sold 13,500 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $30.16, for a total transaction of $407,160.00. Following the transaction, the chief accounting officer now owns 259,310 shares in the company, valued at $7,820,789.60. This represents a 4.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Tania Wingfield sold 24,000 shares of the firm'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 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 disclosure for this sale can be found here. Insiders sold 45,800 shares of company stock valued at $1,347,701 in the last quarter. 0.45% of the stock is currently owned by insiders.

BorgWarner 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.