Spire Wealth Management Acquires 91,061 Shares of BorgWarner Inc. (NYSE:BWA)

Spire Wealth Management grew its stake in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 1,331.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 97,899 shares of the auto parts company's stock after acquiring an additional 91,061 shares during the quarter. Spire Wealth Management's holdings in BorgWarner were worth $2,805,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of BWA. Norges Bank bought a new stake in shares of BorgWarner during the 4th quarter valued at $62,180,000. Bank of America Corp DE lifted its position in shares of BorgWarner by 91.9% during the 4th 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. Fuller & Thaler Asset Management Inc. lifted its position in shares of BorgWarner by 8,137.5% during the 4th 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. LSV Asset Management lifted its position in shares of BorgWarner by 22.5% during the 4th quarter. LSV Asset Management now owns 4,308,145 shares of the auto parts company's stock valued at $136,956,000 after acquiring an additional 792,100 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of BorgWarner by 7.2% during the 4th 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. 95.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley lowered their price target on BorgWarner from $45.00 to $40.00 and set an "overweight" rating for the company in a report on Monday, March 3rd. Bank of America boosted their price target on BorgWarner from $35.00 to $41.00 and gave the stock a "buy" rating in a report on Monday, June 16th. The Goldman Sachs Group raised BorgWarner from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $31.00 to $34.00 in a report on Thursday, April 10th. Guggenheim lowered their price target 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 boosted their price target on BorgWarner from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Seven 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 currently has a consensus rating of "Moderate Buy" and an average target price of $37.47.

BorgWarner Price Performance

BWA traded up $0.01 on Friday, reaching $33.61. The stock had a trading volume of 2,495,166 shares, compared to its average volume of 2,724,989. BorgWarner Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $37.29. The firm has a 50-day moving average of $31.77 and a 200-day moving average of $30.61. The company has a current ratio of 1.97, a quick ratio of 1.60 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 1.48 and a beta of 1.10.

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, 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 business had revenue of $3.52 billion during the quarter, compared to analysts' expectations of $3.39 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Dividend Announcement

The business 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 1.31%. BorgWarner's payout ratio is 35.20%.

Insider Activity

In other 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which is accessible 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 sale, the executive vice president now directly owns 214,521 shares of the company's stock, valued at approximately $7,042,724.43. The trade was a 11.45% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.63% of the company's stock.

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.