Davis Investment Partners LLC Sells 8,061 Shares of BorgWarner Inc. (NYSE:BWA)

Davis Investment Partners LLC decreased its holdings in BorgWarner Inc. (NYSE:BWA - Free Report) by 32.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,649 shares of the auto parts company's stock after selling 8,061 shares during the quarter. Davis Investment Partners LLC's holdings in BorgWarner were worth $440,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake 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 worth $358,720,000 after purchasing an additional 753,344 shares during the period. Invesco Ltd. lifted its holdings in BorgWarner by 10.2% during the fourth quarter. Invesco Ltd. now owns 6,795,020 shares of the auto parts company's stock worth $216,014,000 after acquiring an additional 628,930 shares in the last quarter. Alliancebernstein L.P. lifted its holdings 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 worth $190,142,000 after acquiring an additional 381,504 shares in the last quarter. LSV Asset Management lifted its holdings 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 worth $136,956,000 after acquiring an additional 792,100 shares in the last quarter. Finally, Turtle Creek Asset Management Inc. lifted its holdings in shares of BorgWarner by 7.0% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 4,078,780 shares of the auto parts company's stock valued at $129,664,000 after purchasing an additional 267,250 shares in the last quarter. Institutional investors own 95.67% of the company's stock.

Insider Buying and Selling

In other BorgWarner news, VP Isabelle Mckenzie sold 5,000 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $33.25, for a total transaction of $166,250.00. Following the completion of the sale, the vice president now directly owns 63,445 shares in the company, valued at $2,109,546.25. This represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tonit M. Calaway sold 27,736 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $32.83, for a total value of $910,572.88. Following the sale, the executive vice president now owns 214,521 shares of the company's stock, valued at $7,042,724.43. The trade was a 11.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BWA has been the topic of several analyst reports. The Goldman Sachs Group upgraded BorgWarner from a "neutral" rating to a "buy" rating and upped their target price for the stock from $31.00 to $34.00 in a report on Thursday, April 10th. Wells Fargo & Company upped their target price on BorgWarner from $40.00 to $44.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Barclays dropped their target price on BorgWarner from $42.00 to $35.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Piper Sandler reiterated an "overweight" rating and set a $37.00 target price (up previously from $36.00) on shares of BorgWarner in a report on Thursday, May 22nd. Finally, UBS Group upped their target price on BorgWarner from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, BorgWarner presently has a consensus rating of "Moderate Buy" and an average price target of $37.73.

BorgWarner Stock Performance

Shares of BorgWarner stock traded down $0.29 on Thursday, hitting $33.39. The stock had a trading volume of 4,891,356 shares, compared to its average volume of 2,698,023. The stock has a market cap of $7.34 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 0.77 and a beta of 1.10. BorgWarner Inc. has a twelve month low of $24.40 and a twelve month high of $37.29. The company has a quick ratio of 1.45, a current ratio of 1.79 and a debt-to-equity ratio of 0.66. The business's 50 day moving average is $30.05 and its two-hundred day moving average is $30.76.

BorgWarner (NYSE:BWA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 15.93% and a net margin of 2.40%. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 earnings per share. Analysts forecast that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors 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%.

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.