Magnetar Financial LLC Purchases Shares of 42,858 BorgWarner Inc. (NYSE:BWA)

Magnetar Financial LLC bought a new stake in BorgWarner Inc. (NYSE:BWA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 42,858 shares of the auto parts company's stock, valued at approximately $1,362,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its position in BorgWarner by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,384,366 shares of the auto parts company's stock valued at $231,376,000 after purchasing an additional 217,050 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of BorgWarner by 21,752.6% in the third quarter. Pacer Advisors Inc. now owns 4,646,950 shares of the auto parts company's stock valued at $168,638,000 after buying an additional 4,625,685 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of BorgWarner by 19.2% in the third 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 buying an additional 445,540 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in BorgWarner by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,247,269 shares of the auto parts company's stock worth $81,553,000 after buying an additional 60,935 shares in the last quarter. Finally, Ninety One UK Ltd grew its holdings in BorgWarner by 22.5% during the 4th quarter. Ninety One UK Ltd now owns 1,963,721 shares of the auto parts company's stock worth $62,427,000 after acquiring an additional 361,112 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BWA. Barclays reduced their target price on shares of BorgWarner from $43.00 to $42.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 11th. Guggenheim set a $38.00 price objective on BorgWarner in a report on Wednesday, March 5th. 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. BNP Paribas raised BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 price target on the stock in a research note on Tuesday, March 18th. Finally, Morgan Stanley lowered their price objective on BorgWarner from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $39.06.

BorgWarner Trading Up 2.7 %

BorgWarner stock traded up $0.77 during mid-day trading on Monday, hitting $29.47. 3,191,806 shares of the company's stock were exchanged, compared to its average volume of 2,646,180. The company's 50 day simple moving average is $30.31 and its 200-day simple moving average is $32.51. 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 firm has a market capitalization of $6.47 billion, a P/E ratio of 20.61, a PEG ratio of 0.77 and a beta of 1.21. BorgWarner Inc. has a fifty-two week low of $27.65 and a fifty-two week high of $38.23.

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

BorgWarner Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, March 3rd. BorgWarner's dividend payout ratio is 30.77%.

Insiders Place Their Bets

In other news, CAO Tonit M. Calaway sold 8,300 shares of the stock in a transaction dated Monday, March 10th. The shares were 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 $7,284,667.99. This represents a 3.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Tania Wingfield sold 24,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now owns 39,110 shares of the company's stock, valued at $1,125,976.90. The trade was 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 in the last quarter. 0.45% of the stock is currently owned by insiders.

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.