Russell Investments Group Ltd. Decreases Stake in BorgWarner Inc. (NYSE:BWA)

Russell Investments Group Ltd. lowered its holdings in BorgWarner Inc. (NYSE:BWA - Free Report) by 35.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 283,717 shares of the auto parts company's stock after selling 155,799 shares during the period. Russell Investments Group Ltd. owned about 0.13% of BorgWarner worth $9,019,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Truist Financial Corp raised its stake in shares of BorgWarner by 4.0% during the 4th quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company's stock worth $487,000 after purchasing an additional 595 shares during the period. Norges Bank purchased a new stake in BorgWarner during the fourth quarter worth about $62,180,000. State of Alaska Department of Revenue raised its position in BorgWarner by 96.3% in the fourth quarter. State of Alaska Department of Revenue now owns 51,935 shares of the auto parts company's stock worth $1,650,000 after acquiring an additional 25,475 shares during the period. Proficio Capital Partners LLC purchased a new position in BorgWarner in the fourth quarter valued at about $1,197,000. Finally, Wellington Management Group LLP grew its position in shares of BorgWarner by 1.4% during the 3rd quarter. Wellington Management Group LLP now owns 27,629 shares of the auto parts company's stock valued at $1,003,000 after acquiring an additional 394 shares during the period. Hedge funds and other institutional investors own 95.67% of the company's stock.

Insiders Place Their Bets

In other news, CAO Tonit M. Calaway sold 13,500 shares of the business's stock in a transaction that occurred 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 directly owns 259,310 shares in the company, valued at approximately $7,820,789.60. The trade was a 4.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Tania Wingfield sold 24,000 shares of the 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 transaction, the executive vice president now directly owns 39,110 shares in the company, valued at approximately $1,125,976.90. This represents a 38.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,800 shares of company stock valued at $1,347,701 over the last 90 days. Insiders own 0.45% of the company's stock.

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Analyst Ratings Changes

BWA has been the topic of several research analyst reports. StockNews.com downgraded BorgWarner from a "buy" rating to a "hold" rating in a research note on Saturday. JPMorgan Chase & Co. dropped their price target on BorgWarner from $51.00 to $49.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. UBS Group reiterated a "neutral" rating and set a $31.00 price target (down previously from $38.00) on shares of BorgWarner in a research note on Thursday, April 10th. The Goldman Sachs Group upgraded BorgWarner from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $31.00 to $34.00 in a research note on Thursday, April 10th. Finally, Wells Fargo & Company increased their target price on shares of BorgWarner from $40.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, BorgWarner currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.50.

BorgWarner Price Performance

Shares of BWA traded down $0.34 during trading hours on Tuesday, reaching $26.10. 2,079,404 shares of the company's stock traded hands, compared to its average volume of 2,799,579. BorgWarner Inc. has a 12 month low of $24.40 and a 12 month high of $38.23. The company has a current ratio of 1.79, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. The stock has a market cap of $5.73 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 0.77 and a beta of 1.12. The firm's 50 day simple moving average is $28.66 and its 200-day simple moving average is $31.79.

BorgWarner (NYSE:BWA - Get Free Report) last announced its earnings results 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%. Equities analysts expect that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.11 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 1.69%. BorgWarner's payout ratio is 30.77%.

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.