38,021 Shares in BorgWarner Inc. (NYSE:BWA) Bought by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new stake in shares of BorgWarner Inc. (NYSE:BWA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 38,021 shares of the auto parts company's stock, valued at approximately $1,089,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Global X Japan Co. Ltd. raised its holdings in shares of BorgWarner by 133.4% in the first quarter. Global X Japan Co. Ltd. now owns 915 shares of the auto parts company's stock valued at $26,000 after buying an additional 523 shares during the last quarter. LRI Investments LLC increased its position in BorgWarner by 1,515.0% in the fourth quarter. LRI Investments LLC now owns 969 shares of the auto parts company's stock worth $31,000 after purchasing an additional 909 shares during the period. Allworth Financial LP increased its position in BorgWarner by 123.1% in the first quarter. Allworth Financial LP now owns 1,437 shares of the auto parts company's stock worth $41,000 after purchasing an additional 793 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in BorgWarner in the fourth quarter worth about $45,000. Finally, Golden State Wealth Management LLC increased its position in BorgWarner by 596.1% in the first quarter. Golden State Wealth Management LLC now owns 1,601 shares of the auto parts company's stock worth $46,000 after purchasing an additional 1,371 shares during the period. 95.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BWA. Wall Street Zen upgraded BorgWarner from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 12th. Piper Sandler reiterated an "overweight" rating and issued a $37.00 price objective (up from $36.00) on shares of BorgWarner in a research report on Thursday, May 22nd. Robert W. Baird upped their price target on BorgWarner from $32.00 to $39.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Bank of America upped their price target on BorgWarner from $35.00 to $41.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Finally, Guggenheim lowered their price target on BorgWarner from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $39.07.

Insiders Place Their Bets

In other news, EVP Tonit M. Calaway sold 27,736 shares of the stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Isabelle Mckenzie sold 5,000 shares of the stock in a transaction 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 directly owned 63,445 shares in the company, valued at approximately $2,109,546.25. This trade represents a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company's stock.

BorgWarner Stock Performance

BWA traded down $0.05 during trading hours 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 52 week low of $24.40 and a 52 week high of $37.29. The company's 50-day moving average is $33.95 and its 200-day moving average is $31.07. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.60 and a current ratio of 1.97. The firm has a market cap of $7.91 billion, a PE ratio of 28.79, a price-to-earnings-growth 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 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.13. BorgWarner had a return on equity of 16.13% and a net margin of 2.06%. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the firm posted $1.03 EPS. The company's revenue for the quarter 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 year.

BorgWarner Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.22%. BorgWarner's dividend payout ratio is 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.