Spire Wealth Management lifted its position in BorgWarner Inc. (NYSE:BWA - Free Report) by 1,331.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,899 shares of the auto parts company's stock after purchasing an additional 91,061 shares during the quarter. Spire Wealth Management's holdings in BorgWarner were worth $2,805,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Principal Securities Inc. grew its position in BorgWarner by 59.1% in the fourth quarter. Principal Securities Inc. now owns 1,939 shares of the auto parts company's stock valued at $62,000 after acquiring an additional 720 shares during the period. Truist Financial Corp grew its position in BorgWarner by 4.0% in the fourth quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company's stock valued at $487,000 after acquiring an additional 595 shares during the period. Los Angeles Capital Management LLC bought a new stake in BorgWarner in the fourth quarter valued at $343,000. Illinois Municipal Retirement Fund grew its position in BorgWarner by 25.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 84,170 shares of the auto parts company's stock valued at $2,676,000 after acquiring an additional 17,300 shares during the period. Finally, MMCAP International Inc. SPC grew its position in BorgWarner by 11.8% in the fourth quarter. MMCAP International Inc. SPC now owns 269,758 shares of the auto parts company's stock valued at $8,576,000 after acquiring an additional 28,500 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other BorgWarner news, VP Isabelle Mckenzie sold 5,000 shares of the stock in a transaction dated Friday, May 16th. The stock was 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. This represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $910,572.88. Following the completion of the transaction, the executive vice president now directly owns 214,521 shares in the company, valued at $7,042,724.43. The trade was a 11.45% decrease in their position. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by insiders.
BorgWarner Trading Down 0.9%
Shares of BWA opened at $33.14 on Thursday. The company has a quick ratio of 1.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. BorgWarner Inc. has a 12-month low of $24.40 and a 12-month high of $37.29. The firm has a market capitalization of $7.28 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 1.47 and a beta of 1.10. The stock's fifty day simple moving average is $31.48 and its 200-day simple moving average is $30.68.
BorgWarner (NYSE:BWA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.13. BorgWarner had a return on equity of 16.13% and a net margin of 2.06%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, research analysts predict that BorgWarner Inc. will post 4.28 earnings per share for the current year.
BorgWarner Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.33%. BorgWarner's dividend payout ratio (DPR) is presently 35.20%.
Analyst Upgrades and Downgrades
BWA has been the topic of a number of analyst reports. Bank of America upped their price target on BorgWarner from $35.00 to $41.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Barclays lowered their price target on BorgWarner from $42.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. The Goldman Sachs Group upgraded BorgWarner from a "neutral" rating to a "buy" rating and increased their target price for the stock from $31.00 to $34.00 in a report on Thursday, April 10th. UBS Group increased their target price on BorgWarner from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, BNP Paribas upgraded BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 target price on the stock in a report on Tuesday, March 18th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, BorgWarner presently has a consensus rating of "Moderate Buy" and an average target price of $37.47.
Check Out Our Latest Analysis on BWA
BorgWarner Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding BWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BorgWarner Inc. (NYSE:BWA - Free Report).
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