CANADA LIFE ASSURANCE Co Acquires 44,499 Shares of BorgWarner Inc. (NYSE:BWA)

CANADA LIFE ASSURANCE Co boosted its stake in BorgWarner Inc. (NYSE:BWA - Free Report) by 33.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 176,613 shares of the auto parts company's stock after acquiring an additional 44,499 shares during the period. CANADA LIFE ASSURANCE Co owned 0.08% of BorgWarner worth $5,613,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Resona Asset Management Co. Ltd. purchased a new position in shares of BorgWarner in the 4th quarter valued at approximately $45,000. Avior Wealth Management LLC lifted its position in BorgWarner by 31.3% during 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 period. Generali Asset Management SPA SGR purchased a new position in BorgWarner during the fourth quarter valued at $59,000. Wilmington Savings Fund Society FSB bought a new stake in shares of BorgWarner during the 3rd quarter valued at $62,000. Finally, Principal Securities Inc. grew its position 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. 95.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BWA shares. Cowen cut shares of BorgWarner from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Robert W. Baird cut their price target on BorgWarner from $34.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Barclays reduced their price objective on BorgWarner from $42.00 to $35.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. StockNews.com raised BorgWarner from a "hold" rating to a "buy" rating in a report on Thursday. Finally, The Goldman Sachs Group upgraded BorgWarner from a "neutral" rating to a "buy" rating and raised their price target for the company from $31.00 to $34.00 in a report on Thursday, April 10th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $37.19.

BorgWarner Stock Performance

Shares of BWA traded down $0.15 during trading hours on Friday, hitting $28.28. The stock had a trading volume of 1,666,842 shares, compared to its average volume of 2,793,407. The firm has a market capitalization of $6.21 billion, a PE ratio of 19.78, a PEG ratio of 0.77 and a beta of 1.12. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45. BorgWarner Inc. has a 12 month low of $24.40 and a 12 month high of $38.23. The stock has a fifty day moving average price of $28.14 and a 200 day moving average price of $31.29.

BorgWarner (NYSE:BWA - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share (EPS) 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%. Analysts anticipate that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Announces Dividend

The firm 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 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Monday, March 3rd. BorgWarner's dividend payout ratio is presently 30.77%.

Insider Activity

In related news, CAO Tonit M. Calaway sold 8,300 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.07, for a total transaction of $249,581.00. Following the completion of the transaction, the chief accounting officer now directly owns 242,257 shares in the company, valued at approximately $7,284,667.99. The trade was a 3.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tania Wingfield sold 24,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total transaction 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. Insiders sold a total of 45,800 shares of company stock valued at $1,347,701 in the last 90 days. Company insiders own 0.45% of the company's stock.

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.