BorgWarner Inc. (NYSE:BWA) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp decreased its stake in BorgWarner Inc. (NYSE:BWA - Free Report) by 40.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,453 shares of the auto parts company's stock after selling 42,883 shares during the period. Peapack Gladstone Financial Corp's holdings in BorgWarner were worth $2,049,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Resona Asset Management Co. Ltd. acquired a new position in BorgWarner in the fourth quarter valued at $45,000. Avior Wealth Management LLC boosted its position in shares of BorgWarner by 31.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company's stock valued at $46,000 after purchasing an additional 342 shares during the period. Generali Asset Management SPA SGR purchased a new position in BorgWarner during the 4th quarter worth approximately $59,000. Wilmington Savings Fund Society FSB purchased a new position in BorgWarner during the 3rd quarter worth approximately $62,000. Finally, Principal Securities Inc. increased its position in BorgWarner by 59.1% during the fourth 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 Ratings Changes

Several equities research analysts have recently weighed in on the stock. Morgan Stanley decreased their target price on shares of BorgWarner from $45.00 to $40.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. JPMorgan Chase & Co. decreased their price objective on BorgWarner from $51.00 to $49.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. UBS Group reissued a "neutral" rating and issued a $31.00 target price (down previously from $38.00) on shares of BorgWarner in a report on Thursday. TD Cowen downgraded BorgWarner from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a report on Friday, March 7th. Finally, StockNews.com cut shares of BorgWarner from a "buy" rating to a "hold" rating in a research note on Saturday. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.56.

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BorgWarner Price Performance

Shares of BWA traded up $0.55 on Friday, reaching $26.22. The stock had a trading volume of 2,225,842 shares, compared to its average volume of 2,802,611. 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 $5.76 billion, a PE ratio of 18.33, a PEG ratio of 0.77 and a beta of 1.12. BorgWarner Inc. has a twelve month low of $24.40 and a twelve month high of $38.23. The firm has a 50-day moving average of $28.75 and a 200 day moving average of $31.86.

BorgWarner (NYSE:BWA - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The auto parts company reported $1.01 EPS for the quarter, topping the consensus estimate 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 expect that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Monday, March 3rd. BorgWarner's dividend payout ratio (DPR) is presently 30.77%.

Insider Buying and Selling

In related news, EVP Tania Wingfield sold 24,000 shares of the 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 transaction, the executive vice president now directly owns 39,110 shares in the company, valued at approximately $1,125,976.90. This represents a 38.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Tonit M. Calaway sold 13,500 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $30.16, for a total transaction of $407,160.00. Following the completion of the sale, the chief accounting officer now directly owns 259,310 shares in the company, valued at $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. In the last quarter, insiders sold 45,800 shares of company stock worth $1,347,701. 0.45% of the stock is owned by corporate 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.