Freestone Grove Partners LP Acquires New Shares in BorgWarner Inc. (NYSE:BWA)

Freestone Grove Partners LP bought a new stake in shares of BorgWarner Inc. (NYSE:BWA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,306 shares of the auto parts company's stock, valued at approximately $359,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BWA. Norges Bank purchased a new position in shares of BorgWarner during the 4th quarter worth about $62,180,000. Fuller & Thaler Asset Management Inc. increased its position in shares of BorgWarner by 8,137.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,299,057 shares of the auto parts company's stock worth $41,297,000 after acquiring an additional 1,283,287 shares during the period. LSV Asset Management raised its position in 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 purchasing an additional 792,100 shares in the last quarter. Swedbank AB raised its holdings in shares of BorgWarner by 91.7% in the fourth quarter. Swedbank AB now owns 1,618,550 shares of the auto parts company's stock valued at $51,454,000 after acquiring an additional 774,438 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in 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 purchasing an additional 753,344 shares during the period. Hedge funds and other institutional investors own 95.67% of the company's stock.

Insider Activity

In related news, EVP Tania Wingfield sold 24,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Tonit M. Calaway sold 13,500 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $30.16, for a total value of $407,160.00. Following the completion of the sale, the chief accounting officer now owns 259,310 shares of the company's stock, valued at approximately $7,820,789.60. The trade was a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,800 shares of company stock worth $1,347,701 over the last 90 days. 0.45% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on BWA. Wells Fargo & Company upped their price objective on BorgWarner from $40.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. UBS Group reissued a "neutral" rating and issued a $31.00 price target (down previously from $38.00) on shares of BorgWarner in a report on Thursday, April 10th. The Goldman Sachs Group raised shares of BorgWarner from a "neutral" rating to a "buy" rating and increased their price objective for the company from $31.00 to $34.00 in a research report on Thursday, April 10th. Guggenheim decreased their price target on shares of BorgWarner from $38.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, StockNews.com raised shares of BorgWarner from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, BorgWarner currently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

BorgWarner Stock Performance

Shares of NYSE BWA traded up $1.32 during midday trading on Wednesday, reaching $30.32. 3,802,119 shares of the stock were exchanged, compared to its average volume of 2,754,291. The company has a quick ratio of 1.45, a current ratio of 1.79 and a debt-to-equity ratio of 0.66. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 0.77 and a beta of 1.08. The firm has a 50-day simple moving average of $28.02 and a two-hundred day simple moving average of $30.98. BorgWarner Inc. has a twelve month low of $24.40 and a twelve month high of $38.23.

BorgWarner (NYSE:BWA - Get Free Report) last posted 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 business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the company posted $1.03 EPS. The company's revenue for the quarter was down 2.2% on a year-over-year basis. As a group, analysts anticipate that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.45%. BorgWarner's payout ratio is presently 30.77%.

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.