Mitsubishi UFJ Asset Management Co. Ltd. Trims Stake in BorgWarner Inc. (NYSE:BWA)

Mitsubishi UFJ Asset Management Co. Ltd. decreased its position in BorgWarner Inc. (NYSE:BWA - Free Report) by 91.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,703 shares of the auto parts company's stock after selling 169,913 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in BorgWarner were worth $450,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BWA. Bank of America Corp DE increased its position in shares of BorgWarner by 91.9% in the fourth quarter. Bank of America Corp DE now owns 3,878,932 shares of the auto parts company's stock valued at $123,311,000 after acquiring an additional 1,857,907 shares during the period. LSV Asset Management increased its position in shares of BorgWarner by 36.7% in the first quarter. LSV Asset Management now owns 5,889,080 shares of the auto parts company's stock valued at $168,722,000 after acquiring an additional 1,580,935 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in shares of BorgWarner by 8,137.5% in 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 acquiring an additional 1,283,287 shares during the period. Principal Financial Group Inc. increased its position in shares of BorgWarner by 338.5% in the first quarter. Principal Financial Group Inc. now owns 1,085,149 shares of the auto parts company's stock valued at $31,090,000 after acquiring an additional 837,668 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of 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 acquiring an additional 753,344 shares during the period. Hedge funds and other institutional investors own 95.67% of the company's stock.

BorgWarner Stock Down 0.1%

Shares of NYSE BWA traded down $0.06 during midday trading on Friday, hitting $41.39. The stock had a trading volume of 2,596,299 shares, compared to its average volume of 2,250,007. The business's 50 day moving average is $35.58 and its 200-day moving average is $31.71. The company has a market cap of $8.96 billion, a P/E ratio of 44.03, a PEG ratio of 1.25 and a beta of 1.10. BorgWarner Inc. has a 52 week low of $24.40 and a 52 week high of $41.67. The company has a quick ratio of 1.66, a current ratio of 2.02 and a debt-to-equity ratio of 0.64.

BorgWarner (NYSE:BWA - Get Free Report) last issued its earnings results on Thursday, July 31st. The auto parts company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.15. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.56 billion. BorgWarner had a net margin of 1.50% and a return on equity of 16.17%. The business's revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 earnings per share. As a group, analysts predict that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner declared that its board has authorized a stock repurchase plan on Thursday, July 31st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the auto parts company to repurchase up to 13.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

BorgWarner Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. This is an increase from BorgWarner's previous quarterly dividend of $0.11. BorgWarner's dividend payout ratio is currently 46.81%.

Insider Activity at BorgWarner

In other news, VP Isabelle Mckenzie sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $40.01, for a total transaction of $100,025.00. Following the completion of the transaction, the vice president directly owned 55,945 shares of the company's stock, valued at $2,238,359.45. The trade was a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stefan Demmerle sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $39.31, for a total transaction of $589,650.00. Following the transaction, the vice president directly owned 234,040 shares of the company's stock, valued at $9,200,112.40. The trade was a 6.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,500 shares of company stock worth $892,175. Insiders own 0.45% of the company's stock.

Analyst Upgrades and Downgrades

BWA has been the topic of a number of analyst reports. Guggenheim decreased their price objective on shares of BorgWarner from $38.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley boosted their price target on shares of BorgWarner from $40.00 to $42.00 and gave the company an "overweight" rating in a research report on Tuesday. Evercore ISI boosted their price target on shares of BorgWarner from $38.00 to $42.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. UBS Group boosted their price target on shares of BorgWarner from $35.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Finally, Wells Fargo & Company boosted their price target on shares of BorgWarner from $45.00 to $46.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.64.

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.