Alpha Omega Wealth Management LLC raised its stake in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 59.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,190 shares of the auto parts company's stock after buying an additional 9,427 shares during the quarter. Alpha Omega Wealth Management LLC's holdings in BorgWarner were worth $722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of BorgWarner during the fourth quarter valued at 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 valued at $123,311,000 after purchasing an additional 1,857,907 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in BorgWarner by 8,137.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,299,057 shares of the auto parts company's stock valued at $41,297,000 after purchasing an additional 1,283,287 shares during the last quarter. LSV Asset Management lifted its position in BorgWarner by 22.5% during 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 purchasing an additional 792,100 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of BorgWarner by 7.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,284,040 shares of the auto parts company's stock worth $358,720,000 after buying an additional 753,344 shares in the last quarter. Institutional investors own 95.67% of the company's stock.
BorgWarner Stock Down 0.7%
BorgWarner stock traded down $0.24 during trading hours on Thursday, reaching $33.44. The stock had a trading volume of 2,016,655 shares, compared to its average volume of 2,683,178. The business's 50 day moving average price is $30.05 and its 200-day moving average price is $30.76. 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 Inc. has a 52 week low of $24.40 and a 52 week high of $37.29. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 0.77 and a beta of 1.10.
BorgWarner (NYSE:BWA - Get Free Report) last released its quarterly earnings results 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 business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.39 billion. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. The business's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 earnings per share. Sell-side analysts anticipate that BorgWarner Inc. will post 4.28 EPS for the current year.
BorgWarner Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.32%. BorgWarner's dividend payout ratio is currently 35.20%.
Insider Buying and Selling at BorgWarner
In related news, EVP Tonit M. Calaway sold 27,736 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $32.83, for a total transaction of $910,572.88. Following the sale, the executive vice president now directly owns 214,521 shares of the company's stock, valued at $7,042,724.43. This trade represents a 11.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Isabelle Mckenzie sold 5,000 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $33.25, for a total transaction of $166,250.00. Following the completion of the transaction, the vice president now owns 63,445 shares of the company's stock, valued at approximately $2,109,546.25. This represents a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.63% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on BWA shares. Morgan Stanley reduced their price objective on BorgWarner from $45.00 to $40.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. TD Cowen lowered 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. 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. Wells Fargo & Company raised their target price on shares of BorgWarner from $40.00 to $44.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Finally, Robert W. Baird upped their price target on shares of BorgWarner from $29.00 to $32.00 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 given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $37.73.
Check Out Our Latest Analysis on BorgWarner
BorgWarner Company Profile
(
Free Report)
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.
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