BorgWarner Inc. (NYSE:BWA) Stock Position Lessened by Millennium Management LLC

Millennium Management LLC trimmed its stake in BorgWarner Inc. (NYSE:BWA - Free Report) by 66.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 821,278 shares of the auto parts company's stock after selling 1,638,018 shares during the period. Millennium Management LLC owned about 0.38% of BorgWarner worth $26,108,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in BorgWarner during the fourth quarter valued at $62,180,000. Bank of America Corp DE increased its stake in BorgWarner by 91.9% in the 4th 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 buying an additional 1,857,907 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of BorgWarner by 8,137.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,299,057 shares of the auto parts company's stock worth $41,297,000 after purchasing an additional 1,283,287 shares during the last quarter. LSV Asset Management grew its stake in BorgWarner by 22.5% in the 4th quarter. LSV Asset Management now owns 4,308,145 shares of the auto parts company's stock valued at $136,956,000 after buying an additional 792,100 shares in the last quarter. Finally, Swedbank AB boosted its stake in BorgWarner by 91.7% in the 4th quarter. Swedbank AB now owns 1,618,550 shares of the auto parts company's stock worth $51,454,000 after purchasing an additional 774,438 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.

BorgWarner Trading Down 0.8%

Shares of NYSE BWA traded down $0.28 during midday trading on Friday, hitting $32.68. 2,254,294 shares of the company traded hands, compared to its average volume of 2,767,321. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.79. The stock has a 50-day moving average price of $28.93 and a 200 day moving average price of $30.83. BorgWarner Inc. has a 12-month low of $24.40 and a 12-month high of $37.29. The firm has a market cap of $7.18 billion, a P/E ratio of 22.85, a P/E/G ratio of 0.77 and a beta of 1.08.

BorgWarner (NYSE:BWA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.13. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted $1.03 earnings per share. As a group, analysts expect that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.35%. BorgWarner's dividend payout ratio (DPR) is presently 35.20%.

Analyst Ratings Changes

Several research analysts have commented on BWA shares. Wall Street Zen raised shares of BorgWarner from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. UBS Group lifted their target price on shares of BorgWarner from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Cowen cut shares of BorgWarner from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Evercore ISI decreased their target price on shares of BorgWarner from $43.00 to $40.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Finally, Wells Fargo & Company lifted their target price on shares of BorgWarner from $40.00 to $44.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, BorgWarner currently has an average rating of "Moderate Buy" and an average target price of $37.73.

Insider Buying and Selling at BorgWarner

In related news, 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 value of $166,250.00. Following the completion of the sale, the vice president now owns 63,445 shares of the company's stock, valued at approximately $2,109,546.25. The trade was a 7.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tania Wingfield sold 24,000 shares of BorgWarner stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total transaction of $690,960.00. Following the sale, the executive vice president now directly 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. In the last ninety days, insiders sold 65,036 shares of company stock worth $2,017,364. Company insiders own 0.63% of the company's stock.

BorgWarner Company 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.