Nuveen Asset Management LLC Sells 1,350,517 Shares of BorgWarner Inc. (NYSE:BWA)

Nuveen Asset Management LLC lowered its holdings in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 45.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,604,941 shares of the auto parts company's stock after selling 1,350,517 shares during the period. Nuveen Asset Management LLC owned about 0.73% of BorgWarner worth $51,021,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BWA. LRI Investments LLC lifted its position in BorgWarner by 1,515.0% during the 4th quarter. LRI Investments LLC now owns 969 shares of the auto parts company's stock worth $31,000 after buying an additional 909 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of BorgWarner in the 4th quarter valued at about $45,000. Avior Wealth Management LLC increased its stake in shares of BorgWarner by 31.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company's stock valued at $46,000 after acquiring an additional 342 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of BorgWarner in the 4th quarter valued at about $48,000. Finally, Quarry LP increased its stake in shares of BorgWarner by 110.6% in the 4th quarter. Quarry LP now owns 1,826 shares of the auto parts company's stock valued at $58,000 after acquiring an additional 959 shares during the last quarter. Institutional investors and hedge funds own 95.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BWA. Wall Street Zen upgraded BorgWarner from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. BNP Paribas upgraded BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 price target on the stock in a research report on Tuesday, March 18th. UBS Group raised their price target on BorgWarner from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Morgan Stanley reduced their price objective on BorgWarner from $45.00 to $40.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Finally, TD Cowen lowered BorgWarner from a "buy" rating to a "hold" rating and set a $31.00 price objective on the stock. in a research note on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.73.

BorgWarner Stock Performance

NYSE BWA traded down $0.28 during trading hours on Friday, hitting $32.68. 2,254,294 shares of the stock were exchanged, compared to its average volume of 2,767,321. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 0.77 and a beta of 1.08. BorgWarner Inc. has a 12-month low of $24.40 and a 12-month high of $37.29. The stock has a 50-day moving average of $28.93 and a 200 day moving average of $30.83. The company has a quick ratio of 1.45, a current ratio of 1.79 and a debt-to-equity ratio of 0.66.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.13. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. The company had revenue of $3.52 billion during the quarter, compared to analysts' expectations of $3.39 billion. During the same period last year, the company posted $1.03 earnings per share. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. As a group, equities research analysts forecast that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.35%. BorgWarner's dividend payout ratio is presently 35.20%.

Insider Buying and Selling

In other news, VP Isabelle Mckenzie sold 5,000 shares of the company'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 sale, the vice president now directly owns 63,445 shares of the company's stock, valued at approximately $2,109,546.25. This represents a 7.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tania Wingfield sold 24,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total transaction of $690,960.00. Following the sale, the executive vice president now owns 39,110 shares in the company, valued at $1,125,976.90. This represents a 38.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,036 shares of company stock worth $2,017,364. 0.63% of the stock is owned by insiders.

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.