Elevation Point Wealth Partners LLC Acquires 34,946 Shares of BorgWarner Inc. (NYSE:BWA)

Elevation Point Wealth Partners LLC boosted its holdings in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 56.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 96,526 shares of the auto parts company's stock after acquiring an additional 34,946 shares during the period. Elevation Point Wealth Partners LLC's holdings in BorgWarner were worth $2,765,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of BorgWarner in the 4th quarter valued at about $62,180,000. Bank of America Corp DE boosted its stake in BorgWarner by 91.9% during the 4th quarter. Bank of America Corp DE now owns 3,878,932 shares of the auto parts company's stock worth $123,311,000 after acquiring an additional 1,857,907 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in BorgWarner by 8,137.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,299,057 shares of the auto parts company's stock valued at $41,297,000 after purchasing an additional 1,283,287 shares during the period. LSV Asset Management increased its stake in BorgWarner by 22.5% in 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in BorgWarner by 7.2% in 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 purchasing an additional 753,344 shares in the last quarter. Institutional investors own 95.67% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of BorgWarner from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Robert W. Baird increased their price target on BorgWarner from $29.00 to $32.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. UBS Group boosted their price objective on BorgWarner from $31.00 to $35.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Morgan Stanley lowered their target price on BorgWarner from $45.00 to $40.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group raised shares of BorgWarner from a "neutral" rating to a "buy" rating and lifted their price target for the company from $31.00 to $34.00 in a research note on Thursday, April 10th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, BorgWarner has an average rating of "Moderate Buy" and an average target price of $37.73.

BorgWarner Stock Down 0.9%

Shares of NYSE:BWA traded down $0.29 during trading on Friday, hitting $33.09. 5,151,731 shares of the company were exchanged, compared to its average volume of 2,710,126. BorgWarner Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $37.29. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 23.14, a P/E/G ratio of 0.77 and a beta of 1.10. The company has a current ratio of 1.79, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average price of $30.37 and a two-hundred day moving average price of $30.74.

BorgWarner (NYSE:BWA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share 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 net margin of 2.40% and a return on equity of 15.93%. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 earnings per share. As a group, research analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.33%. BorgWarner's payout ratio is 35.20%.

Insider Activity

In other BorgWarner news, EVP Tonit M. Calaway sold 27,736 shares of BorgWarner stock in a transaction on Monday, May 12th. The shares were sold at an average price of $32.83, for a total transaction of $910,572.88. Following the completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Isabelle Mckenzie sold 5,000 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $33.25, for a total transaction of $166,250.00. Following the sale, the vice president now owns 63,445 shares of the company's stock, valued at approximately $2,109,546.25. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.63% of the company's stock.

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.