iA Global Asset Management Inc. Purchases 43,125 Shares of BorgWarner Inc. (NYSE:BWA)

iA Global Asset Management Inc. lifted its position in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 489.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,937 shares of the auto parts company's stock after buying an additional 43,125 shares during the quarter. iA Global Asset Management Inc.'s holdings in BorgWarner were worth $1,651,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BWA. Geode Capital Management LLC grew its holdings in shares of BorgWarner by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 6,384,366 shares of the auto parts company's stock worth $231,376,000 after purchasing an additional 217,050 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of BorgWarner by 19.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,764,103 shares of the auto parts company's stock valued at $100,309,000 after acquiring an additional 445,540 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in BorgWarner by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,247,269 shares of the auto parts company's stock valued at $81,553,000 after purchasing an additional 60,935 shares in the last quarter. Ninety One UK Ltd lifted its stake in shares of BorgWarner by 22.5% during the fourth quarter. Ninety One UK Ltd now owns 1,963,721 shares of the auto parts company's stock worth $62,427,000 after purchasing an additional 361,112 shares in the last quarter. Finally, Swedbank AB raised its holdings in shares of BorgWarner by 91.7% during the 4th quarter. Swedbank AB now owns 1,618,550 shares of the auto parts company's stock valued at $51,454,000 after buying an additional 774,438 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.

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BorgWarner Stock Up 0.3 %

Shares of BWA traded up $0.10 during mid-day trading on Tuesday, reaching $29.55. The company's stock had a trading volume of 404,497 shares, compared to its average volume of 3,564,928. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 0.77 and a beta of 1.21. BorgWarner Inc. has a 1 year low of $27.65 and a 1 year high of $38.22. 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 business has a fifty day moving average of $30.31 and a 200 day moving average of $32.51.

BorgWarner (NYSE:BWA - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, analysts forecast that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Monday, March 3rd. BorgWarner's dividend payout ratio (DPR) is presently 30.77%.

Insider Activity at BorgWarner

In other news, CAO Tonit M. Calaway sold 13,500 shares of the firm'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 sale, the chief accounting officer now directly owns 259,310 shares of the company's stock, valued at approximately $7,820,789.60. This trade represents a 4.95 % 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, EVP Tania Wingfield sold 24,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total value of $690,960.00. Following the completion of the sale, the executive vice president now directly owns 39,110 shares of the company's stock, valued at $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. In the last quarter, insiders sold 45,800 shares of company stock valued at $1,347,701. 0.45% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BWA. Morgan Stanley decreased their target price on shares of BorgWarner from $45.00 to $40.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Piper Sandler lowered their target price on BorgWarner from $43.00 to $36.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. The Goldman Sachs Group dropped their target price on BorgWarner from $35.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. lowered their price objective on BorgWarner from $51.00 to $49.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. Finally, Wells Fargo & Company upped their target price on BorgWarner from $40.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $39.06.

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.