Ameriprise Financial Inc. Reduces Stock Position in BorgWarner Inc. (NYSE:BWA)

Ameriprise Financial Inc. cut its holdings in BorgWarner Inc. (NYSE:BWA) by 3.3% 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 407,706 shares of the auto parts company’s stock after selling 13,838 shares during the period. Ameriprise Financial Inc.’s holdings in BorgWarner were worth $12,971,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BWA. Truist Financial Corp lifted its stake in BorgWarner by 4.0% during the fourth quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company’s stock worth $487,000 after purchasing an additional 595 shares during the last quarter. Norges Bank purchased a new stake in shares of BorgWarner during the 4th quarter worth approximately $62,180,000. State of Alaska Department of Revenue boosted its holdings in shares of 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 in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of BorgWarner in the 4th quarter valued at $1,197,000. Finally, AIA Group Ltd acquired a new stake in BorgWarner during the 4th quarter worth $1,599,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

BorgWarner Price Performance

BorgWarner stock opened at $33.34 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45. The business has a 50 day simple moving average of $28.48 and a 200-day simple moving average of $30.87. BorgWarner Inc. has a 12 month low of $24.40 and a 12 month high of $37.29. The stock has a market capitalization of $7.32 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 0.77 and a beta of 1.08.

BorgWarner (NYSE:BWA) last announced 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 net margin of 2.40% and a return on equity of 15.93%. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. BorgWarner’s quarterly revenue was down 2.2% on a year-over-year basis. Equities analysts predict that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.32%. BorgWarner’s payout ratio is currently 35.20%.

Insider Activity at BorgWarner

In other news, CAO Tonit M. Calaway sold 8,300 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.07, for a total value of $249,581.00. Following the completion of the sale, the chief accounting officer now directly owns 242,257 shares of the company’s stock, valued at $7,284,667.99. This trade represents a 3.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tania Wingfield sold 24,000 shares of BorgWarner stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total value of $690,960.00. Following the completion of the sale, the executive vice president now owns 39,110 shares in the company, valued at approximately $1,125,976.90. This trade represents a 38.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,036 shares of company stock worth $1,851,114 over the last 90 days. Company insiders own 0.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BWA. TD Cowen downgraded shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research note on Friday, March 7th. JPMorgan Chase & Co. decreased their target price on BorgWarner from $51.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Evercore ISI dropped their price target on BorgWarner from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Wells Fargo & Company boosted their price objective on BorgWarner from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group raised BorgWarner from a “neutral” rating to a “buy” rating and increased their price objective for the company from $31.00 to $34.00 in a report on Thursday, April 10th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.47.

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.