BorgWarner Inc. (NYSE:BWA) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 19.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,913 shares of the auto parts company's stock after selling 9,436 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in BorgWarner were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased 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 acquiring an additional 753,344 shares in the last quarter. Invesco Ltd. grew its position in BorgWarner by 10.2% during the 4th quarter. Invesco Ltd. now owns 6,795,020 shares of the auto parts company's stock worth $216,014,000 after purchasing an additional 628,930 shares during the last quarter. Alliancebernstein L.P. increased its stake in BorgWarner by 6.8% during the 4th 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 in the last quarter. LSV Asset Management raised its holdings in shares of BorgWarner by 22.5% in the fourth quarter. LSV Asset Management now owns 4,308,145 shares of the auto parts company's stock worth $136,956,000 after buying an additional 792,100 shares during the last quarter. Finally, Turtle Creek Asset Management Inc. lifted 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 buying an additional 267,250 shares during the period. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BWA shares. Robert W. Baird raised their target price on BorgWarner from $29.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Wall Street Zen upgraded BorgWarner from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Guggenheim dropped their target price on BorgWarner from $38.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler reissued an "overweight" rating and set a $37.00 price target (up from $36.00) on shares of BorgWarner in a research report on Thursday, May 22nd. Finally, Barclays decreased their price objective on shares of BorgWarner from $42.00 to $35.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, BorgWarner currently has an average rating of "Moderate Buy" and a consensus price target of $37.53.

BorgWarner Price Performance

Shares of NYSE:BWA traded down $0.48 during trading on Monday, reaching $34.84. 1,447,078 shares of the company's stock traded hands, compared to its average volume of 2,718,135. The company has a quick ratio of 1.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. BorgWarner Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $37.29. The company has a 50-day simple moving average of $32.51 and a 200-day simple moving average of $30.68. The firm has a market cap of $7.66 billion, a PE ratio of 27.87, a P/E/G ratio of 1.55 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 EPS for the quarter, beating the consensus estimate of $0.98 by $0.13. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.39 billion. BorgWarner had a return on equity of 16.13% and a net margin of 2.06%. BorgWarner's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. As a group, analysts predict that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.26%. BorgWarner's dividend payout ratio (DPR) is 35.20%.

Insider Transactions at BorgWarner

In other BorgWarner news, VP Isabelle Mckenzie sold 5,000 shares of the stock in a transaction dated 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 owned 63,445 shares in the company, valued at approximately $2,109,546.25. This 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 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 directly owned 214,521 shares of the company's stock, valued at approximately $7,042,724.43. This represents a 11.45% decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is owned by insiders.

BorgWarner 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.