BorgWarner Inc. (NYSE:BWA) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 338.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,085,149 shares of the auto parts company's stock after acquiring an additional 837,668 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of BorgWarner worth $31,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC acquired a new position in BorgWarner in the 4th quarter valued at about $1,197,000. Arizona State Retirement System grew its holdings in shares of BorgWarner by 0.8% during the 4th quarter. Arizona State Retirement System now owns 66,103 shares of the auto parts company's stock worth $2,101,000 after purchasing an additional 498 shares during the period. Raymond James Financial Inc. purchased a new position in BorgWarner in the 4th quarter worth approximately $3,860,000. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of BorgWarner by 9.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 153,547 shares of the auto parts company's stock valued at $5,387,000 after buying an additional 13,290 shares during the last quarter. Finally, Amundi lifted its stake in BorgWarner by 20.2% during the fourth quarter. Amundi now owns 1,233,665 shares of the auto parts company's stock worth $39,071,000 after purchasing an additional 207,688 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Tonit M. Calaway sold 27,736 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $32.83, for a total transaction of $910,572.88. Following the completion of the sale, the executive vice president owned 214,521 shares in the company, valued at approximately $7,042,724.43. This trade represents a 11.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Isabelle Mckenzie sold 5,000 shares of the firm'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 directly 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 disclosure for this sale can be found here. 0.63% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen raised BorgWarner from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Bank of America raised their price objective on BorgWarner from $35.00 to $41.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Wells Fargo & Company lifted their price target on BorgWarner from $44.00 to $45.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Guggenheim reduced their target price on BorgWarner from $38.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, UBS Group lifted 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. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, BorgWarner currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.53.

BorgWarner Stock Performance

NYSE BWA traded up $0.14 on Wednesday, hitting $35.36. 51,495 shares of the stock traded hands, compared to its average volume of 2,709,755. BorgWarner Inc. has a 12 month low of $24.40 and a 12 month high of $37.29. The business's fifty day moving average is $32.77 and its two-hundred day moving average is $30.74. 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 firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.53 and a beta of 1.09.

BorgWarner (NYSE:BWA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.13. BorgWarner had a return on equity of 16.13% and a net margin of 2.06%. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the business posted $1.03 earnings per share. The firm's revenue was down 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.24%. BorgWarner's dividend payout ratio is currently 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.