Turtle Creek Asset Management Inc. Increases Stake in BorgWarner Inc. (NYSE:BWA)

Turtle Creek Asset Management Inc. grew its position in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,078,780 shares of the auto parts company's stock after buying an additional 267,250 shares during the quarter. BorgWarner accounts for approximately 3.4% of Turtle Creek Asset Management Inc.'s investment portfolio, making the stock its 16th biggest holding. Turtle Creek Asset Management Inc. owned 1.87% of BorgWarner worth $129,664,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. LRI Investments LLC boosted its holdings in shares of BorgWarner by 1,515.0% in 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 during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in BorgWarner in the fourth quarter valued at about $45,000. Avior Wealth Management LLC boosted its stake in BorgWarner by 31.3% in the fourth 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 position in shares of BorgWarner during the 4th quarter valued at approximately $48,000. Finally, Quarry LP increased its stake in shares of BorgWarner by 110.6% during the 4th quarter. Quarry LP now owns 1,826 shares of the auto parts company's stock worth $58,000 after purchasing an additional 959 shares during the last quarter. Institutional investors own 95.67% of the company's stock.

Insider Buying and Selling

In other news, EVP Tania Wingfield sold 24,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total value of $690,960.00. Following the completion of the sale, the executive vice president now owns 39,110 shares of the company's stock, valued at approximately $1,125,976.90. This represents a 38.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Isabelle Mckenzie sold 5,000 shares of BorgWarner stock in a transaction on Friday, May 16th. The stock was sold at an average price of $33.25, for a total transaction of $166,250.00. Following the completion of the transaction, the vice president now owns 63,445 shares in the company, valued at approximately $2,109,546.25. The trade was a 7.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,036 shares of company stock worth $2,017,364 in the last quarter. 0.63% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BWA shares. BNP Paribas upgraded BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 price objective on the stock in a research note on Tuesday, March 18th. Guggenheim cut their price target on BorgWarner from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company boosted their price objective on BorgWarner from $40.00 to $44.00 and gave the company an "overweight" rating in a research note on Monday. Barclays cut their target price on shares of BorgWarner from $42.00 to $35.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, Morgan Stanley lowered their price target on shares of BorgWarner from $45.00 to $40.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, BorgWarner currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.73.

BorgWarner Price Performance

BWA stock traded down $0.38 during midday trading on Friday, reaching $32.59. The company had a trading volume of 617,424 shares, compared to its average volume of 3,128,281. The firm has a 50-day moving average price of $28.86 and a 200-day moving average price of $30.90. The company has a market capitalization of $7.16 billion, a P/E ratio of 22.78, a P/E/G ratio of 0.77 and a beta of 1.08. BorgWarner Inc. has a 1 year low of $24.40 and a 1 year high of $37.29. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45.

BorgWarner (NYSE:BWA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $3.39 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. On average, research analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.35%. BorgWarner's dividend payout ratio is 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.