Allspring Global Investments Holdings LLC Sells 49,427 Shares of BorgWarner Inc. (NYSE:BWA)

Allspring Global Investments Holdings LLC reduced its position in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 536,961 shares of the auto parts company's stock after selling 49,427 shares during the period. Allspring Global Investments Holdings LLC owned about 0.24% of BorgWarner worth $15,325,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of BorgWarner in the 4th quarter worth about $62,180,000. Bank of America Corp DE raised its stake in BorgWarner by 91.9% during the fourth quarter. Bank of America Corp DE now owns 3,878,932 shares of the auto parts company's stock worth $123,311,000 after acquiring an additional 1,857,907 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in BorgWarner by 8,137.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,299,057 shares of the auto parts company's stock worth $41,297,000 after acquiring an additional 1,283,287 shares during the last quarter. LSV Asset Management boosted its stake in BorgWarner by 22.5% in the fourth quarter. LSV Asset Management now owns 4,308,145 shares of the auto parts company's stock valued at $136,956,000 after acquiring an additional 792,100 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of BorgWarner by 7.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,284,040 shares of the auto parts company's stock valued at $358,720,000 after purchasing an additional 753,344 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BWA has been the topic of several recent research reports. Guggenheim cut their price target on BorgWarner from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company raised their target price on BorgWarner from $44.00 to $45.00 and gave the company an "overweight" rating in a research note on Tuesday. Robert W. Baird increased their price objective on shares of BorgWarner from $29.00 to $32.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. UBS Group lifted their price objective on shares of BorgWarner from $31.00 to $35.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Barclays reduced their price objective on shares of BorgWarner from $42.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, BorgWarner currently has an average rating of "Moderate Buy" and a consensus target price of $37.53.

Insider Buying and Selling at BorgWarner

In related news, VP Isabelle Mckenzie sold 5,000 shares of BorgWarner stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $33.25, for a total value of $166,250.00. Following the sale, the vice president owned 63,445 shares of the company's stock, valued at approximately $2,109,546.25. This trade represents a 7.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tonit M. Calaway sold 27,736 shares of the business'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 sale, the executive vice president owned 214,521 shares in the company, valued at $7,042,724.43. The trade was a 11.45% decrease in their position. The disclosure for this sale can be found here. 0.45% of the stock is owned by corporate insiders.

BorgWarner Trading Down 0.7%

Shares of NYSE BWA traded down $0.25 during mid-day trading on Friday, hitting $35.29. The company's stock had a trading volume of 1,005,505 shares, compared to its average volume of 2,725,826. The company's fifty day simple moving average is $32.51 and its 200-day simple moving average is $30.70. BorgWarner Inc. has a one year low of $24.40 and a one year high of $37.29. The stock has a market cap of $7.75 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 1.55 and a beta of 1.09. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.97 and a quick ratio of 1.60.

BorgWarner (NYSE:BWA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The auto parts company reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.13. The company had revenue of $3.52 billion during the quarter, compared to analysts' expectations of $3.39 billion. BorgWarner had a return on equity of 16.13% and a net margin of 2.06%. BorgWarner's revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 EPS. On average, sell-side analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.25%. BorgWarner's dividend payout ratio (DPR) is presently 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.