Merit Financial Group LLC Sells 7,543 Shares of BorgWarner Inc. (NYSE:BWA)

Merit Financial Group LLC cut its holdings in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 41.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,655 shares of the auto parts company's stock after selling 7,543 shares during the quarter. Merit Financial Group LLC's holdings in BorgWarner were worth $305,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BWA. Dimensional Fund Advisors LP lifted 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 worth $358,720,000 after purchasing an additional 753,344 shares during the last quarter. Invesco Ltd. increased its holdings in shares of BorgWarner by 10.2% in the fourth quarter. Invesco Ltd. now owns 6,795,020 shares of the auto parts company's stock worth $216,014,000 after buying an additional 628,930 shares during the period. Alliancebernstein L.P. lifted its stake in shares of BorgWarner by 6.8% in the 4th quarter. Alliancebernstein L.P. now owns 5,981,196 shares of the auto parts company's stock valued at $190,142,000 after acquiring an additional 381,504 shares during the last quarter. LSV Asset Management boosted its holdings in BorgWarner by 22.5% during the 4th quarter. LSV Asset Management now owns 4,308,145 shares of the auto parts company's stock valued at $136,956,000 after acquiring an additional 792,100 shares during the period. Finally, Turtle Creek Asset Management Inc. grew its position in BorgWarner by 7.0% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 4,078,780 shares of the auto parts company's stock worth $129,664,000 after acquiring an additional 267,250 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other BorgWarner news, EVP Tonit M. Calaway sold 27,736 shares of the 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 completion of the transaction, the executive vice president now owns 214,521 shares of the company's stock, valued at $7,042,724.43. This represents a 11.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $166,250.00. Following the transaction, the vice president now owns 63,445 shares of the company's stock, valued at approximately $2,109,546.25. The trade was a 7.31% decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is owned by insiders.

BorgWarner Stock Performance

BorgWarner stock traded down $0.25 during mid-day trading on Friday, reaching $33.13. 3,098,384 shares of the stock traded hands, compared to its average volume of 2,701,723. The stock has a market capitalization of $7.28 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 0.77 and a beta of 1.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45. The business's 50-day moving average is $30.20 and its 200-day moving average is $30.75. BorgWarner Inc. has a 12-month low of $24.40 and a 12-month high of $37.29.

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

BorgWarner Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.33%. BorgWarner's dividend payout ratio (DPR) is presently 35.20%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of BorgWarner from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Robert W. Baird increased their target price on shares of BorgWarner from $29.00 to $32.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Piper Sandler restated an "overweight" rating and set a $37.00 price target (up previously from $36.00) on shares of BorgWarner in a report on Thursday, May 22nd. Wells Fargo & Company upped their price target on BorgWarner from $40.00 to $44.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, UBS Group lifted their price objective on BorgWarner from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, BorgWarner presently has an average rating of "Moderate Buy" and a consensus target price of $37.73.

BorgWarner Company 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.