Mirae Asset Global Investments Co. Ltd. Decreases Stock Holdings in BorgWarner Inc. (NYSE:BWA)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 92.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,993 shares of the auto parts company's stock after selling 24,029 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in BorgWarner were worth $56,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund raised its holdings in shares of BorgWarner by 35.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 113,641 shares of the auto parts company's stock valued at $3,256,000 after purchasing an additional 29,471 shares in the last quarter. Old North State Wealth Management LLC raised its stake in BorgWarner by 5.4% during the 1st quarter. Old North State Wealth Management LLC now owns 87,132 shares of the auto parts company's stock worth $2,498,000 after acquiring an additional 4,490 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in BorgWarner by 19.6% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 988,324 shares of the auto parts company's stock worth $28,315,000 after acquiring an additional 162,176 shares in the last quarter. Golden State Wealth Management LLC raised its stake in BorgWarner by 596.1% during the 1st quarter. Golden State Wealth Management LLC now owns 1,601 shares of the auto parts company's stock worth $46,000 after acquiring an additional 1,371 shares in the last quarter. Finally, Spire Wealth Management raised its stake in BorgWarner by 1,331.7% during the 1st quarter. Spire Wealth Management now owns 97,899 shares of the auto parts company's stock worth $2,805,000 after acquiring an additional 91,061 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BorgWarner

In other news, VP Isabelle Mckenzie sold 5,000 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $33.25, for a total value of $166,250.00. Following the completion of the transaction, the vice president owned 63,445 shares of the company's stock, valued at $2,109,546.25. The trade was a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Tonit M. Calaway sold 27,736 shares of the business's stock in a transaction that occurred 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 directly owned 214,521 shares of the company's stock, valued at approximately $7,042,724.43. This represents a 11.45% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.45% of the company's stock.

Wall Street Analysts Forecast Growth

BWA has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on shares of BorgWarner from $44.00 to $45.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Robert W. Baird lifted their price target 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. Piper Sandler reiterated an "overweight" rating and set a $37.00 price target (up from $36.00) on shares of BorgWarner in a research note on Thursday, May 22nd. Wall Street Zen upgraded shares of BorgWarner from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Finally, BNP Paribas upgraded shares of BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 price target on the stock in a research note on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.53.

BorgWarner Stock Performance

Shares of NYSE:BWA traded up $0.35 during midday trading on Tuesday, hitting $35.19. The stock had a trading volume of 2,107,052 shares, compared to its average volume of 3,044,771. The company has a market capitalization of $7.73 billion, a PE ratio of 28.15, a P/E/G ratio of 1.55 and a beta of 1.09. The stock has a 50 day moving average price of $32.64 and a two-hundred day moving average price of $30.70. The company has a current ratio of 1.97, a quick ratio of 1.60 and a debt-to-equity ratio of 0.65. BorgWarner Inc. has a 1 year low of $24.40 and a 1 year high of $37.29.

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, beating the consensus estimate 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 2.06% and a return on equity of 16.13%. The business's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. As a group, equities analysts predict that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given 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%.

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.