Artisan Partners Limited Partnership lessened its stake in BorgWarner Inc. (NYSE:BWA - Free Report) by 43.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 470,000 shares of the auto parts company's stock after selling 356,757 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.21% of BorgWarner worth $14,941,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC raised its position in shares of 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 buying an additional 342 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in BorgWarner by 0.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 54,432 shares of the auto parts company's stock worth $1,730,000 after purchasing an additional 381 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of BorgWarner by 0.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 76,168 shares of the auto parts company's stock worth $2,421,000 after purchasing an additional 393 shares during the last quarter. Wellington Management Group LLP grew its position in shares of BorgWarner by 1.4% in the third quarter. Wellington Management Group LLP now owns 27,629 shares of the auto parts company's stock valued at $1,003,000 after purchasing an additional 394 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of BorgWarner by 0.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 48,349 shares of the auto parts company's stock valued at $1,537,000 after purchasing an additional 450 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.
BorgWarner Stock Up 1.8 %
BWA traded up $0.50 during midday trading on Wednesday, hitting $29.04. 317,761 shares of the company's stock traded hands, compared to its average volume of 3,519,494. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45. The company has a market cap of $6.38 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 0.77 and a beta of 1.21. BorgWarner Inc. has a one year low of $27.65 and a one year high of $38.22. The stock's fifty day simple moving average is $29.92 and its 200-day simple moving average is $32.38.
BorgWarner (NYSE:BWA - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The auto parts company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.08. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. As a group, equities analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.
BorgWarner Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.11 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.44 annualized dividend and a yield of 1.52%. BorgWarner's dividend payout ratio (DPR) is presently 30.77%.
Analyst Ratings Changes
BWA has been the subject of several analyst reports. TD Cowen lowered BorgWarner from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research report on Friday, March 7th. Evercore ISI reduced their price objective on shares of BorgWarner from $43.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. decreased their target price on shares of BorgWarner from $51.00 to $49.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. Piper Sandler dropped their target price on shares of BorgWarner from $43.00 to $36.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. Finally, BNP Paribas raised shares of BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 price target on the stock in a research report on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $39.06.
Check Out Our Latest Research Report on BorgWarner
Insider Buying and Selling at BorgWarner
In other news, EVP Tania Wingfield sold 24,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total value of $690,960.00. Following the sale, the executive vice president now directly owns 39,110 shares of the company's stock, valued at approximately $1,125,976.90. This trade represents a 38.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Tonit M. Calaway sold 13,500 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $30.16, for a total value of $407,160.00. Following the transaction, the chief accounting officer now directly owns 259,310 shares of the company's stock, valued at $7,820,789.60. This represents a 4.95 % decrease in their position. 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. Insiders own 0.45% of the company's stock.
BorgWarner Company Profile
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Free Report)
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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