Spectrum Asset Management Inc. NB CA Has $2.16 Million Holdings in BorgWarner Inc. (NYSE:BWA)

Spectrum Asset Management Inc. NB CA grew its stake in BorgWarner Inc. (NYSE:BWA) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,457 shares of the auto parts company’s stock after purchasing an additional 316 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in BorgWarner were worth $2,158,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in BorgWarner in the 3rd quarter valued at about $11,960,000. Private Advisor Group LLC lifted its stake in BorgWarner by 8.4% in the third quarter. Private Advisor Group LLC now owns 7,050 shares of the auto parts company’s stock valued at $256,000 after buying an additional 549 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of BorgWarner by 108.9% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,302 shares of the auto parts company’s stock worth $84,000 after purchasing an additional 1,200 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in BorgWarner by 51.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 17,794 shares of the auto parts company’s stock worth $646,000 after acquiring an additional 6,076 shares in the last quarter. Finally, Raymond James & Associates raised its position in BorgWarner by 8.0% during the third quarter. Raymond James & Associates now owns 192,002 shares of the auto parts company’s stock worth $6,968,000 after acquiring an additional 14,165 shares in the last quarter. 95.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company decreased their price target on shares of BorgWarner from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Bank of America decreased their target price on shares of BorgWarner from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Citigroup decreased their price target on shares of BorgWarner from $41.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. StockNews.com raised shares of BorgWarner from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Finally, Robert W. Baird boosted their price target on shares of BorgWarner from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

Insider Activity

In other BorgWarner news, CAO Tonit M. Calaway sold 10,868 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $31.74, for a total transaction of $344,950.32. Following the transaction, the chief accounting officer now owns 206,083 shares in the company, valued at approximately $6,541,074.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Tonit M. Calaway sold 10,868 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $31.74, for a total value of $344,950.32. Following the completion of the sale, the chief accounting officer now owns 206,083 shares of the company’s stock, valued at approximately $6,541,074.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tania Wingfield sold 2,066 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.00, for a total value of $66,112.00. Following the sale, the executive vice president now directly owns 46,016 shares of the company’s stock, valued at approximately $1,472,512. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.

BorgWarner Price Performance

BWA opened at $34.12 on Thursday. BorgWarner Inc. has a 52-week low of $29.51 and a 52-week high of $39.10. The stock has a market cap of $7.77 billion, a P/E ratio of 12.92, a PEG ratio of 0.81 and a beta of 1.20. The business has a fifty day moving average of $33.95 and a 200 day moving average of $33.89. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 0.52.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.18. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the prior year, the business posted $1.35 EPS. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, sell-side analysts anticipate that BorgWarner Inc. will post 4.1 EPS for the current year.

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.