Woodline Partners LP Acquires New Position in BorgWarner Inc. (NYSE:BWA)

Woodline Partners LP acquired a new stake in shares of BorgWarner Inc. (NYSE:BWA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,134 shares of the auto parts company’s stock, valued at approximately $418,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of BorgWarner by 7.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,284,040 shares of the auto parts company’s stock valued at $358,720,000 after acquiring an additional 753,344 shares during the last quarter. Invesco Ltd. boosted its holdings in BorgWarner by 10.2% in the fourth quarter. Invesco Ltd. now owns 6,795,020 shares of the auto parts company’s stock worth $216,014,000 after purchasing an additional 628,930 shares during the period. Alliancebernstein L.P. increased its stake in BorgWarner by 6.8% during the fourth quarter. Alliancebernstein L.P. now owns 5,981,196 shares of the auto parts company’s stock valued at $190,142,000 after purchasing an additional 381,504 shares during the last quarter. LSV Asset Management raised its holdings in shares of BorgWarner by 22.5% during the fourth quarter. LSV Asset Management now owns 4,308,145 shares of the auto parts company’s stock worth $136,956,000 after purchasing an additional 792,100 shares during the period. Finally, Turtle Creek Asset Management Inc. lifted its position in shares of BorgWarner by 7.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 4,078,780 shares of the auto parts company’s stock worth $129,664,000 after buying an additional 267,250 shares during the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

BorgWarner Price Performance

Shares of NYSE:BWA opened at $33.58 on Wednesday. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 0.77 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45. BorgWarner Inc. has a 12 month low of $24.40 and a 12 month high of $37.29. The stock’s 50 day moving average price is $29.10 and its 200 day moving average price is $30.84.

BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Wednesday, May 7th. The auto parts company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.13. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the business earned $1.03 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities research analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.31%. BorgWarner’s dividend payout ratio is currently 35.20%.

Insider Buying and Selling

In other BorgWarner news, VP Isabelle Mckenzie sold 5,000 shares of BorgWarner stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $33.25, for a total value of $166,250.00. Following the transaction, the vice president now owns 63,445 shares in the company, valued at approximately $2,109,546.25. The trade was a 7.31% 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, EVP Tonit M. Calaway sold 27,736 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $32.83, for a total value of $910,572.88. Following the sale, the executive vice president now owns 214,521 shares of the company’s stock, valued at $7,042,724.43. This trade represents a 11.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,036 shares of company stock worth $2,017,364 in the last ninety days. 0.45% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BWA. Cowen lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Morgan Stanley dropped their price target on BorgWarner from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. BNP Paribas upgraded BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 price objective for the company in a research note on Tuesday, March 18th. Barclays cut their target price on BorgWarner from $42.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Finally, Evercore ISI lowered their price target 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. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.73.

BorgWarner Company 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.