III Capital Management Has $1.79 Million Stake in BorgWarner Inc. (NYSE:BWA)

III Capital Management trimmed its position in shares of BorgWarner Inc. (NYSE:BWAFree Report) by 17.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the auto parts company’s stock after selling 10,237 shares during the quarter. III Capital Management’s holdings in BorgWarner were worth $1,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in BWA. Headlands Technologies LLC bought a new position in shares of BorgWarner in the 3rd quarter valued at approximately $28,000. EdgeRock Capital LLC acquired a new stake in BorgWarner in the 4th quarter valued at $30,000. Sound Income Strategies LLC acquired a new position in BorgWarner in the fourth quarter worth $32,000. Bruce G. Allen Investments LLC acquired a new position in BorgWarner in the fourth quarter worth $33,000. Finally, Trust Co. of Vermont boosted its stake in BorgWarner by 49,000.0% in the third quarter. Trust Co. of Vermont now owns 982 shares of the auto parts company’s stock worth $40,000 after purchasing an additional 980 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BorgWarner

In other news, VP Stefan Demmerle sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total value of $99,000.00. Following the transaction, the vice president now owns 249,013 shares in the company, valued at approximately $8,217,429. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.63% of the company’s stock.

BorgWarner Trading Down 1.7 %

Shares of BWA stock traded down $0.60 during mid-day trading on Tuesday, hitting $33.72. The company’s stock had a trading volume of 2,973,654 shares, compared to its average volume of 2,936,403. The company’s fifty day simple moving average is $35.05 and its 200-day simple moving average is $33.90. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $50.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.54. The company has a market cap of $7.68 billion, a PE ratio of 12.94, a P/E/G ratio of 0.83 and a beta of 1.28.

BorgWarner (NYSE:BWAGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.16. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.51 billion. BorgWarner had a return on equity of 15.33% and a net margin of 4.02%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. As a group, equities research analysts expect that BorgWarner Inc. will post 4.07 earnings per share for the current fiscal year.

BorgWarner declared that its board has approved a stock repurchase plan on Thursday, May 2nd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the auto parts company to buy up to 6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

BorgWarner Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid 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 1.30%. BorgWarner’s payout ratio is presently 16.67%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BWA. Piper Sandler began coverage on BorgWarner in a research note on Friday, March 15th. They set an “overweight” rating and a $43.00 price target on the stock. Wells Fargo & Company upped their price objective on BorgWarner from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Barclays upped their price objective on BorgWarner from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, May 6th. TD Cowen upped their price objective on BorgWarner from $36.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, BNP Paribas downgraded BorgWarner from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $43.00 to $35.00 in a report on Tuesday, February 20th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.76.

Get Our Latest Stock Analysis on BWA

BorgWarner Company Profile

(Free Report)

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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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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