Pinebridge Investments L.P. Acquires New Stake in BorgWarner Inc. (NYSE:BWA)

Pinebridge Investments L.P. acquired a new stake in shares of BorgWarner Inc. (NYSE:BWA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 32,856 shares of the auto parts company's stock, valued at approximately $1,044,000.

Other large investors also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. purchased a new stake in shares of BorgWarner in the 4th quarter worth $45,000. Avior Wealth Management LLC lifted its holdings in shares of BorgWarner by 31.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company's stock worth $46,000 after buying an additional 342 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of BorgWarner in the 3rd quarter worth $62,000. Generali Asset Management SPA SGR purchased a new stake in shares of BorgWarner in the 4th quarter worth $59,000. Finally, Principal Securities Inc. lifted its holdings in shares of BorgWarner by 59.1% in the 4th quarter. Principal Securities Inc. now owns 1,939 shares of the auto parts company's stock worth $62,000 after buying an additional 720 shares during the period. Hedge funds and other institutional investors own 95.67% of the company's stock.

BorgWarner Stock Up 0.2 %

Shares of BWA stock opened at $28.34 on Tuesday. The stock's 50-day simple moving average is $28.11 and its 200-day simple moving average is $31.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.79. The firm has a market capitalization of $6.23 billion, a PE ratio of 19.82, a P/E/G ratio of 0.77 and a beta of 1.12. BorgWarner Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $38.23.

BorgWarner (NYSE:BWA - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The auto parts company reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.08. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. Equities analysts expect that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Monday, March 3rd. BorgWarner's dividend payout ratio is currently 30.77%.

Insider Activity at BorgWarner

In related news, CAO Tonit M. Calaway sold 13,500 shares of the business'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 transaction, the chief accounting officer now directly owns 259,310 shares in the company, valued at $7,820,789.60. The trade was a 4.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Tania Wingfield sold 24,000 shares of the business's stock in a transaction on 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,800 shares of company stock worth $1,347,701 in the last three months. Company insiders own 0.45% of the company's stock.

Analyst Ratings Changes

BWA has been the subject of several research reports. JPMorgan Chase & Co. lowered their target price on BorgWarner from $51.00 to $49.00 and set an "overweight" rating for the company in a report on Monday, January 27th. TD Cowen cut BorgWarner from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research note on Friday, March 7th. Piper Sandler decreased their price objective on BorgWarner from $43.00 to $36.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. BNP Paribas upgraded BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 price objective for the company in a research note on Tuesday, March 18th. Finally, Evercore ISI decreased their price objective on BorgWarner from $43.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.19.

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.

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