Bank Julius Baer & Co. Ltd Zurich lessened its stake in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 7.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 142,516 shares of the auto parts company's stock after selling 11,031 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned about 0.06% of BorgWarner worth $4,083,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in 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 worth $358,720,000 after purchasing an additional 753,344 shares during the period. Invesco Ltd. lifted its position in BorgWarner by 10.2% during the fourth quarter. Invesco Ltd. now owns 6,795,020 shares of the auto parts company's stock valued at $216,014,000 after purchasing an additional 628,930 shares during the last quarter. Alliancebernstein L.P. lifted its position in BorgWarner by 6.8% during the fourth quarter. Alliancebernstein L.P. now owns 5,981,196 shares of the auto parts company's stock valued at $190,142,000 after purchasing an additional 381,504 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, Turtle Creek Asset Management Inc. raised its stake in shares of BorgWarner by 7.0% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 4,078,780 shares of the auto parts company's stock worth $129,664,000 after acquiring an additional 267,250 shares in the last quarter. Hedge funds and other institutional investors own 95.67% of the company's stock.
Insider Activity at BorgWarner
In other BorgWarner news, VP Isabelle Mckenzie sold 5,000 shares of the firm's stock in a transaction that occurred 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 sale, the vice president owned 63,445 shares in the company, valued at approximately $2,109,546.25. This trade represents a 7.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tonit M. Calaway sold 27,736 shares of the firm's stock in a transaction that occurred on 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 owned 214,521 shares in the company, valued at approximately $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.
Analyst Ratings Changes
Several research analysts have commented on BWA shares. Piper Sandler reissued an "overweight" rating and set a $37.00 price target (up from $36.00) on shares of BorgWarner in a research note on Thursday, May 22nd. Bank of America lifted their price target on shares of BorgWarner from $35.00 to $41.00 and gave the company a "buy" rating in a report on Monday, June 16th. Robert W. Baird lifted their price target on shares of BorgWarner from $32.00 to $39.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Barclays reiterated an "overweight" rating and issued a $45.00 price target (up previously from $42.00) on shares of BorgWarner in a report on Wednesday, July 16th. Finally, Guggenheim dropped their target price on shares of BorgWarner from $38.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, BorgWarner currently has an average rating of "Moderate Buy" and an average target price of $39.07.
Check Out Our Latest Stock Analysis on BorgWarner
BorgWarner Stock Performance
NYSE:BWA traded down $0.05 during mid-day trading on Friday, reaching $35.98. The company's stock had a trading volume of 1,479,078 shares, compared to its average volume of 1,734,609. BorgWarner Inc. has a 12-month low of $24.40 and a 12-month high of $37.29. The firm's fifty day moving average price is $33.95 and its two-hundred day moving average price is $31.07. The company has a current ratio of 1.97, a quick ratio of 1.60 and a debt-to-equity ratio of 0.65. The stock has a market cap of $7.91 billion, a P/E ratio of 28.79, a PEG ratio of 1.58 and a beta of 1.09.
BorgWarner (NYSE:BWA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.13. BorgWarner had a net margin of 2.06% and a return on equity of 16.13%. The firm had revenue of $3.52 billion for the quarter, compared to analysts' expectations of $3.39 billion. During the same quarter in the prior year, the business earned $1.03 EPS. The business's quarterly revenue was down 2.2% on a year-over-year basis. On average, equities analysts forecast 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, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.22%. BorgWarner's dividend payout ratio (DPR) is presently 35.20%.
BorgWarner Company Profile
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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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