Vanguard Group Inc. Sells 486,462 Shares of BorgWarner Inc. (NYSE:BWA)

Vanguard Group Inc. reduced its position in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,155,076 shares of the auto parts company's stock after selling 486,462 shares during the quarter. Vanguard Group Inc. owned 11.45% of BorgWarner worth $720,693,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its stake in shares of BorgWarner by 3.8% in the first quarter. New York State Teachers Retirement System now owns 219,180 shares of the auto parts company's stock worth $6,280,000 after acquiring an additional 7,977 shares during the last quarter. Avantax Advisory Services Inc. increased its position in BorgWarner by 13.3% during the first quarter. Avantax Advisory Services Inc. now owns 13,258 shares of the auto parts company's stock worth $380,000 after buying an additional 1,555 shares during the last quarter. Sage Rhino Capital LLC acquired a new position in BorgWarner during the first quarter worth $235,000. Brown Advisory Inc. acquired a new position in BorgWarner during the first quarter worth $522,000. Finally, Alpha Omega Wealth Management LLC increased its position in BorgWarner by 59.8% during the first quarter. Alpha Omega Wealth Management LLC now owns 25,190 shares of the auto parts company's stock worth $722,000 after buying an additional 9,427 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BorgWarner

In other BorgWarner news, VP Isabelle Mckenzie sold 2,500 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $40.01, for a total transaction of $100,025.00. Following the completion of the transaction, the vice president owned 55,945 shares in the company, valued at $2,238,359.45. This trade represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Stefan Demmerle sold 15,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $39.31, for a total transaction of $589,650.00. Following the transaction, the vice president owned 234,040 shares of the company's stock, valued at approximately $9,200,112.40. This represents a 6.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,500 shares of company stock valued at $892,175. Corporate insiders own 0.45% of the company's stock.

BorgWarner Stock Performance

Shares of NYSE BWA traded down $0.06 during mid-day trading on Friday, hitting $41.39. The company had a trading volume of 2,596,299 shares, compared to its average volume of 2,250,007. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.66. The business's 50-day simple moving average is $35.58 and its 200-day simple moving average is $31.71. BorgWarner Inc. has a 12 month low of $24.40 and a 12 month high of $41.67. The firm has a market cap of $8.96 billion, a P/E ratio of 44.03, a PEG ratio of 1.25 and a beta of 1.10.

BorgWarner (NYSE:BWA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The auto parts company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.06 by $0.15. The firm had revenue of $3.64 billion during the quarter, compared to analysts' expectations of $3.56 billion. BorgWarner had a net margin of 1.50% and a return on equity of 16.17%. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.19 earnings per share. As a group, analysts predict that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner declared that its board has initiated a share repurchase plan on Thursday, July 31st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the auto parts company to reacquire up to 13.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

BorgWarner Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.17 per share. This is a boost from BorgWarner's previous quarterly dividend of $0.11. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. BorgWarner's dividend payout ratio (DPR) is currently 46.81%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley increased their target price on shares of BorgWarner from $40.00 to $42.00 and gave the stock an "overweight" rating in a research report on Tuesday. Evercore ISI increased their target price on shares of BorgWarner from $38.00 to $42.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Piper Sandler increased their target price on shares of BorgWarner from $37.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Robert W. Baird upped their price target on shares of BorgWarner from $32.00 to $39.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Finally, Barclays reaffirmed an "overweight" rating and issued a $45.00 price target (up from $42.00) on shares of BorgWarner in a research report on Wednesday, July 16th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, BorgWarner currently has an average rating of "Moderate Buy" and an average target price of $39.64.

BorgWarner 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.