Merit Financial Group LLC Sells 7,543 Shares of BorgWarner Inc. (NYSE:BWA)

Merit Financial Group LLC lessened its holdings in BorgWarner Inc. (NYSE:BWA) by 41.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,655 shares of the auto parts company’s stock after selling 7,543 shares during the quarter. Merit Financial Group LLC’s holdings in BorgWarner were worth $305,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Truist Financial Corp raised its holdings in BorgWarner by 4.0% in the 4th quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company’s stock valued at $487,000 after buying an additional 595 shares during the last quarter. Norges Bank bought a new position in BorgWarner in the 4th quarter valued at approximately $62,180,000. State of Alaska Department of Revenue raised its holdings in BorgWarner by 96.3% in the 4th quarter. State of Alaska Department of Revenue now owns 51,935 shares of the auto parts company’s stock valued at $1,650,000 after buying an additional 25,475 shares during the last quarter. Proficio Capital Partners LLC bought a new position in BorgWarner in the 4th quarter valued at approximately $1,197,000. Finally, AIA Group Ltd bought a new position in BorgWarner in the 4th quarter valued at approximately $1,599,000. Institutional investors own 95.67% of the company’s stock.

Insider Activity at BorgWarner

In related news, VP Isabelle Mckenzie sold 5,000 shares of BorgWarner stock in a transaction 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 completion of the sale, the vice president now owns 63,445 shares of the company’s stock, valued at approximately $2,109,546.25. This trade represents a 7.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Tonit M. Calaway sold 27,736 shares of BorgWarner stock in a transaction on Monday, May 12th. The shares were sold at an average price of $32.83, for a total transaction of $910,572.88. Following the completion of the sale, the executive vice president now directly owns 214,521 shares of the company’s stock, valued at approximately $7,042,724.43. The trade was a 11.45% decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.

BorgWarner Trading Down 0.7%

BWA opened at $33.69 on Thursday. BorgWarner Inc. has a 1-year low of $24.40 and a 1-year high of $37.29. The company has a current ratio of 1.79, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. The company has a market cap of $7.40 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 0.77 and a beta of 1.10. The company has a fifty day moving average price of $30.05 and a two-hundred day moving average price of $30.76.

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

BorgWarner Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BWA. Barclays dropped their price objective on shares of BorgWarner from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. UBS Group increased their target price on shares of BorgWarner from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Robert W. Baird increased their target price on shares of BorgWarner from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Cowen downgraded shares of BorgWarner from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Wall Street Zen raised shares of BorgWarner from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, BorgWarner currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.73.

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.