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

Mackenzie Financial Corp cut its holdings in BorgWarner Inc. (NYSE:BWA) by 43.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,217 shares of the auto parts company’s stock after selling 10,216 shares during the period. Mackenzie Financial Corp’s holdings in BorgWarner were worth $474,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Boston Partners raised its position in shares of BorgWarner by 58.9% during the 3rd quarter. Boston Partners now owns 5,267,500 shares of the auto parts company’s stock worth $211,762,000 after acquiring an additional 1,951,783 shares in the last quarter. Invesco Ltd. raised its holdings in BorgWarner by 30.4% during the third quarter. Invesco Ltd. now owns 4,399,084 shares of the auto parts company’s stock worth $177,591,000 after purchasing an additional 1,024,361 shares in the last quarter. American Century Companies Inc. lifted its position in shares of BorgWarner by 18.3% during the 3rd quarter. American Century Companies Inc. now owns 4,189,541 shares of the auto parts company’s stock worth $169,132,000 after buying an additional 648,633 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of BorgWarner by 625.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 644,914 shares of the auto parts company’s stock valued at $26,171,000 after buying an additional 556,048 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of BorgWarner by 48.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,334,974 shares of the auto parts company’s stock valued at $53,896,000 after buying an additional 433,321 shares during the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

BorgWarner Price Performance

Shares of BWA opened at $33.19 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.30 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average is $32.65 and its two-hundred day moving average is $33.99. BorgWarner Inc. has a twelve month low of $29.51 and a twelve month high of $50.04. The firm has a market capitalization of $7.63 billion, a PE ratio of 12.43, a P/E/G ratio of 1.01 and a beta of 1.31.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, February 8th. The auto parts company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.03). BorgWarner had a net margin of 3.94% and a return on equity of 14.69%. The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same period in the prior year, the business earned $1.26 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts anticipate that BorgWarner Inc. will post 3.89 earnings per share for the current year.

BorgWarner Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.11 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.33%. BorgWarner’s dividend payout ratio is presently 16.48%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BWA. Piper Sandler started coverage on shares of BorgWarner in a research note on Friday, March 15th. They issued an “overweight” rating and a $43.00 price objective for the company. TheStreet lowered BorgWarner from a “b-” rating to a “c+” rating in a research report on Thursday, February 8th. Robert W. Baird downgraded BorgWarner from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $45.00 to $39.00 in a report on Wednesday, January 3rd. JPMorgan Chase & Co. cut their target price on shares of BorgWarner from $59.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Finally, StockNews.com cut shares of BorgWarner from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.30.

Insider Activity at BorgWarner

In related news, VP Stefan Demmerle sold 3,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $31.29, for a total transaction of $93,870.00. Following the sale, the vice president now owns 252,013 shares of the company’s stock, valued at $7,885,486.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Stefan Demmerle sold 3,000 shares of BorgWarner stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $31.29, for a total transaction of $93,870.00. Following the completion of the transaction, the vice president now directly owns 252,013 shares of the company’s stock, valued at $7,885,486.77. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Tonit M. Calaway sold 35,603 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $32.15, for a total value of $1,144,636.45. Following the completion of the sale, the chief accounting officer now directly owns 83,348 shares in the company, valued at approximately $2,679,638.20. The disclosure for this sale can be found here. Insiders sold 287,503 shares of company stock worth $9,015,478 over the last 90 days. Company insiders own 0.45% of the company’s stock.

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.