BorgWarner Inc. (NYSE:BWA) Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its stake in BorgWarner Inc. (NYSE:BWA - Free Report) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 454,798 shares of the auto parts company's stock after selling 25,592 shares during the quarter. Legal & General Group Plc owned about 0.21% of BorgWarner worth $14,458,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Truist Financial Corp lifted its holdings in BorgWarner by 4.0% in the 4th 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 BorgWarner during the fourth quarter worth approximately $62,180,000. State of Alaska Department of Revenue grew its stake in BorgWarner by 96.3% in the 4th 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 shares of BorgWarner during the 4th quarter worth $1,197,000. Finally, Wellington Management Group LLP lifted its stake 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 worth $1,003,000 after purchasing an additional 394 shares during the period. Institutional investors and hedge funds own 95.67% of the company's stock.

Insider Buying and Selling

In other news, EVP Tania Wingfield sold 24,000 shares of BorgWarner 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 sale, the executive vice president now owns 39,110 shares of the company's stock, valued at approximately $1,125,976.90. The trade was a 38.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Tonit M. Calaway sold 13,500 shares of the firm'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 owns 259,310 shares in the company, valued at approximately $7,820,789.60. This represents a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,800 shares of company stock valued at $1,347,701 in the last quarter. Company insiders own 0.63% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BWA. Piper Sandler dropped 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. Guggenheim set a $38.00 price objective on shares of BorgWarner in a research note on Wednesday, March 5th. Evercore ISI decreased their target price on shares of BorgWarner from $43.00 to $40.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Barclays reduced their target price on BorgWarner from $42.00 to $35.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, TD Cowen lowered BorgWarner from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a research note on Friday, March 7th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.50.

BorgWarner Stock Performance

BWA traded up $0.40 during trading hours on Friday, hitting $26.42. 1,371,504 shares of the stock were exchanged, compared to its average volume of 2,793,467. 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 50-day simple moving average of $28.38 and a 200-day simple moving average of $31.58. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 0.77 and a beta of 1.12.

BorgWarner (NYSE:BWA - Get Free Report) last announced its quarterly earnings data 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%. Analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current 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 issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, March 3rd. BorgWarner's dividend payout ratio (DPR) is 30.77%.

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.