Allspring Global Investments Holdings LLC Cuts Stock Holdings in BorgWarner Inc. (NYSE:BWA)

Allspring Global Investments Holdings LLC lowered its stake in BorgWarner Inc. (NYSE:BWA - Free Report) by 85.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 21,981 shares of the auto parts company's stock after selling 132,512 shares during the period. Allspring Global Investments Holdings LLC's holdings in BorgWarner were worth $788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in shares of BorgWarner in the 3rd quarter valued at about $28,000. Sound Income Strategies LLC acquired a new position in shares of BorgWarner in the 4th quarter valued at about $32,000. Bruce G. Allen Investments LLC acquired a new position in shares of BorgWarner in the 4th quarter valued at about $33,000. Trust Co. of Vermont boosted its holdings in shares of BorgWarner by 49,000.0% in the 3rd quarter. Trust Co. of Vermont now owns 982 shares of the auto parts company's stock valued at $40,000 after buying an additional 980 shares during the period. Finally, NBC Securities Inc. acquired a new position in shares of BorgWarner in the 3rd quarter valued at about $51,000. Institutional investors own 95.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BWA shares. Piper Sandler started coverage on shares of BorgWarner in a research note on Friday, March 15th. They set an "overweight" rating and a $43.00 target price for the company. Robert W. Baird lowered shares of BorgWarner from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $45.00 to $39.00 in a research note on Wednesday, January 3rd. Wells Fargo & Company reduced their target price on shares of BorgWarner from $47.00 to $43.00 and set an "overweight" rating for the company in a research note on Friday, February 9th. Barclays boosted their target price on shares of BorgWarner from $40.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, April 11th. Finally, BNP Paribas lowered shares of BorgWarner from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $43.00 to $35.00 in a research note on Tuesday, February 20th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $44.30.

BorgWarner Price Performance

Shares of NYSE BWA traded down $0.82 during midday trading on Thursday, reaching $32.83. The company's stock had a trading volume of 1,610,741 shares, compared to its average volume of 2,846,287. The company has a current ratio of 1.65, a quick ratio of 1.30 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average price of $32.63 and a 200 day moving average price of $33.99. BorgWarner Inc. has a one year low of $29.51 and a one year high of $50.04. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31.

BorgWarner (NYSE:BWA - Get Free Report) last released its earnings results on Thursday, February 8th. The auto parts company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.03). BorgWarner had a return on equity of 14.69% and a net margin of 3.94%. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities research analysts expect that BorgWarner Inc. will post 3.89 EPS for the current year.

BorgWarner Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd 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 1.34%. BorgWarner's dividend payout ratio is currently 16.48%.

Insider Activity

In other news, VP Volker Weng sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $32.85, for a total transaction of $657,000.00. Following the sale, the vice president now owns 111,964 shares in the company, valued at $3,678,017.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BorgWarner news, CAO Tonit M. Calaway sold 35,603 shares of the company's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $32.15, for a total value of $1,144,636.45. Following the transaction, the chief accounting officer now owns 83,348 shares in the company, valued at approximately $2,679,638.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Volker Weng sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $32.85, for a total transaction of $657,000.00. Following the completion of the transaction, the vice president now owns 111,964 shares in the company, valued at approximately $3,678,017.40. The disclosure for this sale can be found here. Insiders have sold 287,503 shares of company stock worth $9,015,478 over the last 90 days. 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.