Norges Bank Makes New $62.18 Million Investment in BorgWarner Inc. (NYSE:BWA)

Norges Bank purchased a new stake in shares of BorgWarner Inc. (NYSE:BWA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,955,968 shares of the auto parts company's stock, valued at approximately $62,180,000. Norges Bank owned approximately 0.89% of BorgWarner at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BWA. Truist Financial Corp boosted its position in 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 buying an additional 595 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of 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 purchasing an additional 25,475 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of BorgWarner in the fourth quarter worth $1,197,000. Wellington Management Group LLP increased its holdings in BorgWarner by 1.4% in the third quarter. Wellington Management Group LLP now owns 27,629 shares of the auto parts company's stock valued at $1,003,000 after purchasing an additional 394 shares during the period. Finally, Intact Investment Management Inc. acquired a new stake in BorgWarner in the fourth quarter valued at $5,077,000. 95.67% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Tania Wingfield sold 24,000 shares of the 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 sale, the executive vice president now owns 39,110 shares in the company, valued at $1,125,976.90. This represents a 38.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Tonit M. Calaway sold 13,500 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $30.16, for a total transaction of $407,160.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,800 shares of company stock worth $1,347,701 over the last 90 days. 0.45% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. TD Cowen lowered BorgWarner from a "buy" rating to a "hold" rating and set a $31.00 price target on the stock. in a research report on Friday, March 7th. Guggenheim set a $38.00 target price on shares of BorgWarner in a research report on Wednesday, March 5th. Cowen downgraded shares of BorgWarner from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Evercore ISI decreased their price objective on shares of BorgWarner from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, February 10th. Finally, The Goldman Sachs Group lowered their target price on shares of BorgWarner from $35.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.06.

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BorgWarner Price Performance

Shares of BWA opened at $27.22 on Friday. The business's fifty day moving average is $29.77 and its 200 day moving average is $32.32. BorgWarner Inc. has a 12-month low of $27.07 and a 12-month high of $38.23. 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 stock has a market cap of $5.98 billion, a P/E ratio of 19.03, a P/E/G ratio of 0.77 and a beta of 1.21.

BorgWarner (NYSE:BWA - Get Free Report) last released 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%. Sell-side analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal 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 paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Monday, March 3rd. BorgWarner's dividend payout ratio (DPR) is presently 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.

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