Evercore Wealth Management LLC Has $37.63 Million Stock Position in BorgWarner Inc. (NYSE:BWA)

Evercore Wealth Management LLC decreased its holdings in BorgWarner Inc. (NYSE:BWA - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,183,548 shares of the auto parts company's stock after selling 34,951 shares during the quarter. Evercore Wealth Management LLC owned 0.54% of BorgWarner worth $37,625,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truist Financial Corp boosted its stake in shares of BorgWarner by 4.0% in 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 acquired a new position in BorgWarner in the fourth quarter valued at about $62,180,000. State of Alaska Department of Revenue grew its stake in BorgWarner by 96.3% during 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 buying an additional 25,475 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of BorgWarner in the 4th quarter worth approximately $1,197,000. Finally, AIA Group Ltd bought a new stake in BorgWarner during the 4th quarter worth approximately $1,599,000. 95.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Tonit M. Calaway sold 8,300 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.07, for a total transaction of $249,581.00. Following the completion of the transaction, the chief accounting officer now directly owns 242,257 shares of the company's stock, valued at approximately $7,284,667.99. This represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tania Wingfield sold 24,000 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now owns 39,110 shares of the company's stock, 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. Over the last 90 days, insiders sold 45,800 shares of company stock worth $1,347,701. 0.45% of the stock is owned by insiders.

BorgWarner Price Performance

BWA remained flat at $28.27 during trading on Monday. 490,115 shares of the company's stock were exchanged, compared to its average volume of 2,784,318. The company's 50 day moving average price is $28.14 and its two-hundred day moving average price is $31.27. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.79. 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 P/E ratio of 19.80, a P/E/G ratio of 0.77 and a beta of 1.12.

BorgWarner (NYSE:BWA - Get Free Report) last announced its earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates 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, sell-side analysts predict that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Dividend Announcement

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

Analyst Upgrades and Downgrades

BWA has been the topic of a number of recent analyst reports. Piper Sandler reduced their price objective on BorgWarner from $43.00 to $36.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. JPMorgan Chase & Co. decreased 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. Cowen downgraded BorgWarner from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Barclays decreased their price target on BorgWarner from $42.00 to $35.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, Guggenheim reduced their target price on shares of BorgWarner from $38.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.19.

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.