BorgWarner Inc. (NYSE:BWA) Shares Sold by KBC Group NV

KBC Group NV reduced its position in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,112 shares of the auto parts company's stock after selling 67,260 shares during the period. KBC Group NV owned approximately 0.12% of BorgWarner worth $7,825,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp increased its holdings in shares of BorgWarner by 4.0% during the fourth quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company's stock worth $487,000 after buying an additional 595 shares in the last quarter. Norges Bank acquired a new position in shares of BorgWarner during the fourth quarter worth $62,180,000. Proficio Capital Partners LLC acquired a new position in shares of BorgWarner during the fourth quarter worth $1,197,000. AIA Group Ltd acquired a new position in shares of BorgWarner during the fourth quarter worth $1,599,000. Finally, Intact Investment Management Inc. acquired a new position in shares of BorgWarner during the fourth quarter worth $5,077,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

BorgWarner Trading Down 0.7%

BorgWarner stock traded down $0.25 during mid-day trading on Friday, hitting $35.29. The company's stock had a trading volume of 1,005,505 shares, compared to its average volume of 2,723,242. The stock has a market cap of $7.75 billion, a PE ratio of 28.23, a P/E/G ratio of 1.55 and a beta of 1.09. BorgWarner Inc. has a one year low of $24.40 and a one year high of $37.29. 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 company has a 50 day moving average of $32.51 and a 200-day moving average of $30.69.

BorgWarner (NYSE:BWA - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.39 billion. BorgWarner had a net margin of 2.06% and a return on equity of 16.13%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 EPS. On average, research analysts anticipate that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.25%. BorgWarner's payout ratio is 35.20%.

Analyst Upgrades and Downgrades

BWA has been the subject of a number of recent research reports. TD Cowen downgraded BorgWarner from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a report on Friday, March 7th. UBS Group upped their price target on BorgWarner from $31.00 to $35.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Robert W. Baird raised their price target on shares of BorgWarner from $29.00 to $32.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Piper Sandler reissued an "overweight" rating and set a $37.00 target price (up previously from $36.00) on shares of BorgWarner in a research report on Thursday, May 22nd. Finally, Barclays lowered their price target on shares of BorgWarner from $42.00 to $35.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.53.

Insider Activity

In related news, VP Isabelle Mckenzie sold 5,000 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tonit M. Calaway sold 27,736 shares of BorgWarner 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 sale, the executive vice president owned 214,521 shares of the company's stock, valued at approximately $7,042,724.43. This represents a 11.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.45% of the company's stock.

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.