Evercore Wealth Management LLC Sells 34,951 Shares of BorgWarner Inc. (NYSE:BWA)

Evercore Wealth Management LLC decreased its stake in BorgWarner Inc. (NYSE:BWA - Free Report) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,183,548 shares of the auto parts company's stock after selling 34,951 shares during the quarter. Evercore Wealth Management LLC owned 0.54% of BorgWarner worth $37,625,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Truist Financial Corp lifted its holdings in shares of BorgWarner by 4.0% in the fourth quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company's stock valued at $487,000 after purchasing an additional 595 shares in the last quarter. Norges Bank acquired a new stake in shares of BorgWarner during the fourth quarter worth $62,180,000. State of Alaska Department of Revenue grew its position in BorgWarner by 96.3% during 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 buying an additional 25,475 shares in the last quarter. Proficio Capital Partners LLC bought a new position in BorgWarner in the 4th quarter valued at about $1,197,000. Finally, AIA Group Ltd bought a new stake in shares of BorgWarner during the 4th quarter worth $1,599,000. Institutional investors and hedge funds own 95.67% of the company's stock.

Insider Buying and Selling at BorgWarner

In other BorgWarner news, CAO Tonit M. Calaway sold 13,500 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was 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 owns 259,310 shares in the company, valued at approximately $7,820,789.60. This trade represents a 4.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 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 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 over the last three months. Company insiders own 0.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BWA shares. StockNews.com raised BorgWarner from a "hold" rating to a "buy" rating in a research note on Thursday. Barclays cut their target price on shares of BorgWarner from $42.00 to $35.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. The Goldman Sachs Group raised BorgWarner from a "neutral" rating to a "buy" rating and upped their target price for the stock from $31.00 to $34.00 in a research report on Thursday, April 10th. TD Cowen lowered BorgWarner from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a report on Friday, March 7th. Finally, Cowen lowered shares of BorgWarner from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Seven equities 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $37.19.

BorgWarner Price Performance

BorgWarner stock traded down $0.15 during midday trading on Friday, reaching $28.28. 1,666,842 shares of the stock were exchanged, compared to its average volume of 2,789,536. The firm has a market cap of $6.21 billion, a PE ratio of 19.78, a PEG ratio of 0.77 and a beta of 1.12. BorgWarner Inc. has a 52 week low of $24.40 and a 52 week high of $38.23. The company's fifty day moving average is $28.14 and its 200-day moving average is $31.32. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.79.

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 for the quarter, beating 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%. On average, sell-side analysts forecast that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.11 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.56%. BorgWarner's payout ratio is 30.77%.

BorgWarner Company 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.