Fifth Third Bancorp Sells 12,922 Shares of BorgWarner Inc. (NYSE:BWA)

Fifth Third Bancorp lessened its stake in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 22.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,052 shares of the auto parts company's stock after selling 12,922 shares during the quarter. Fifth Third Bancorp's holdings in BorgWarner were worth $1,262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Alpha Omega Wealth Management LLC grew its stake in shares of BorgWarner by 59.8% during the first quarter. Alpha Omega Wealth Management LLC now owns 25,190 shares of the auto parts company's stock worth $722,000 after buying an additional 9,427 shares during the last quarter. CX Institutional bought a new stake in shares of BorgWarner during the first quarter worth $98,000. Yousif Capital Management LLC grew its stake in shares of BorgWarner by 157.3% during the first quarter. Yousif Capital Management LLC now owns 88,879 shares of the auto parts company's stock worth $2,546,000 after buying an additional 54,333 shares during the last quarter. Tounjian Advisory Partners LLC bought a new stake in shares of BorgWarner during the first quarter worth $1,476,000. Finally, Farther Finance Advisors LLC grew its stake in shares of BorgWarner by 26.1% during the first quarter. Farther Finance Advisors LLC now owns 1,965 shares of the auto parts company's stock worth $56,000 after buying an additional 407 shares during the last quarter. Institutional investors own 95.67% of the company's stock.

BorgWarner Stock Performance

Shares of BWA opened at $33.09 on Monday. The firm's fifty day simple moving average is $30.37 and its two-hundred day simple moving average is $30.69. BorgWarner Inc. has a 12 month low of $24.40 and a 12 month high of $37.29. The stock has a market capitalization of $7.27 billion, a P/E ratio of 23.14, a price-to-earnings-growth 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.

BorgWarner (NYSE:BWA - Get Free Report) last announced its quarterly earnings data 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. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The business's quarterly revenue was down 2.2% compared to the same quarter last year. As a group, analysts predict that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Dividend Announcement

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

Insider Activity

In other news, EVP Tonit M. Calaway sold 27,736 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $32.83, for a total transaction of $910,572.88. Following the transaction, the executive vice president now owns 214,521 shares in the company, valued at approximately $7,042,724.43. This represents a 11.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Isabelle Mckenzie sold 5,000 shares of the company'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 completion of the sale, the vice president now owns 63,445 shares in the company, valued at $2,109,546.25. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.45% of the company's stock.

Analysts Set New Price Targets

BWA has been the topic of a number of research reports. UBS Group boosted their target price on shares of BorgWarner from $31.00 to $35.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Barclays reduced their price objective on shares of BorgWarner from $42.00 to $35.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Piper Sandler reissued an "overweight" rating and issued a $37.00 price objective (up previously from $36.00) on shares of BorgWarner in a research note on Thursday, May 22nd. Robert W. Baird boosted their price objective on shares of BorgWarner from $29.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Cowen cut shares of BorgWarner from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, BorgWarner currently has an average rating of "Moderate Buy" and a consensus target price of $37.73.

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.

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