Toronto Dominion Bank Cuts Holdings in BorgWarner Inc. (NYSE:BWA)

Toronto Dominion Bank reduced its holdings in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 37.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,953 shares of the auto parts company's stock after selling 36,415 shares during the quarter. Toronto Dominion Bank's holdings in BorgWarner were worth $1,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of BWA. Truist Financial Corp boosted its holdings in BorgWarner by 4.0% in the 4th quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company's stock worth $487,000 after buying an additional 595 shares during the period. Norges Bank purchased a new stake in BorgWarner during the 4th quarter valued at approximately $62,180,000. State of Alaska Department of Revenue raised its position in shares of BorgWarner by 96.3% during the fourth quarter. State of Alaska Department of Revenue now owns 51,935 shares of the auto parts company's stock valued at $1,650,000 after buying an additional 25,475 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of BorgWarner during the fourth quarter worth $1,197,000. Finally, AIA Group Ltd purchased a new position in BorgWarner during the fourth quarter valued at $1,599,000. 95.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BWA has been the subject of a number of research reports. UBS Group increased their target price on BorgWarner from $31.00 to $35.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Wall Street Zen raised shares of BorgWarner from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Robert W. Baird lifted their price target on shares of BorgWarner from $29.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Wells Fargo & Company upped their target price on BorgWarner from $40.00 to $44.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Finally, Guggenheim reduced their price target on shares of BorgWarner from $38.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.73.

BorgWarner Price Performance

Shares of BWA stock traded up $0.90 during mid-day trading on Tuesday, hitting $33.58. 2,843,766 shares of the stock were exchanged, compared to its average volume of 2,768,482. 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 Inc. has a 52-week low of $24.40 and a 52-week high of $37.29. The firm has a fifty day moving average of $29.01 and a 200 day moving average of $30.82. The company has a market cap of $7.38 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 0.77 and a beta of 1.08.

BorgWarner (NYSE:BWA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.13. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.39 billion. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. Research analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.31%. BorgWarner's dividend payout ratio (DPR) is 35.20%.

Insiders Place Their Bets

In related news, VP Isabelle Mckenzie sold 5,000 shares of the company's stock in a transaction that occurred on 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 transaction, the vice president now directly owns 63,445 shares of the company's stock, valued at $2,109,546.25. This represents a 7.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Tonit M. Calaway sold 8,300 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.07, for a total transaction of $249,581.00. Following the completion of the sale, the chief accounting officer now directly owns 242,257 shares of the company's stock, valued at $7,284,667.99. The trade was a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,036 shares of company stock worth $2,017,364 in the last quarter. 0.45% of the stock is owned by company 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.