Allspring Global Investments Holdings LLC Sells 132,512 Shares of BorgWarner Inc. (NYSE:BWA)

Allspring Global Investments Holdings LLC reduced its position in shares of BorgWarner Inc. (NYSE:BWA) by 85.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,981 shares of the auto parts company’s stock after selling 132,512 shares during the period. Allspring Global Investments Holdings LLC’s holdings in BorgWarner were worth $788,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in BorgWarner during the 3rd quarter valued at about $28,000. Sound Income Strategies LLC bought a new position in BorgWarner during the 4th quarter valued at about $32,000. Bruce G. Allen Investments LLC bought a new position in BorgWarner during the 4th quarter valued at about $33,000. Trust Co. of Vermont lifted its holdings in BorgWarner by 49,000.0% during the 3rd quarter. Trust Co. of Vermont now owns 982 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 980 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in BorgWarner during the 3rd quarter valued at about $51,000. 95.67% of the stock is owned by institutional investors.

BorgWarner Stock Up 0.9 %

Shares of NYSE:BWA opened at $33.65 on Thursday. BorgWarner Inc. has a one year low of $29.51 and a one year high of $50.04. The company has a 50 day moving average of $32.58 and a 200-day moving average of $34.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.65 and a quick ratio of 1.30. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 0.99 and a beta of 1.31.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, February 8th. The auto parts company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.03). The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.62 billion. BorgWarner had a return on equity of 14.69% and a net margin of 3.94%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.26 EPS. On average, sell-side analysts forecast that BorgWarner Inc. will post 3.9 earnings per share for the current year.

BorgWarner Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Thursday, February 29th. BorgWarner’s dividend payout ratio is currently 16.48%.

Insider Activity at BorgWarner

In related news, CAO Tonit M. Calaway sold 35,603 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $32.15, for a total transaction of $1,144,636.45. Following the completion of the transaction, the chief accounting officer now owns 83,348 shares in the company, valued at $2,679,638.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Tonit M. Calaway sold 35,603 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $32.15, for a total transaction of $1,144,636.45. Following the completion of the transaction, the chief accounting officer now owns 83,348 shares in the company, valued at $2,679,638.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Stefan Demmerle sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $33.00, for a total transaction of $99,000.00. Following the transaction, the vice president now owns 249,013 shares of the company’s stock, valued at approximately $8,217,429. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 287,503 shares of company stock worth $9,015,478. 0.63% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BWA shares. JPMorgan Chase & Co. lowered their price objective on shares of BorgWarner from $59.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. StockNews.com cut shares of BorgWarner from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Robert W. Baird cut shares of BorgWarner from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $45.00 to $39.00 in a research report on Wednesday, January 3rd. The Goldman Sachs Group lowered their price objective on shares of BorgWarner from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Finally, TheStreet cut shares of BorgWarner from a “b-” rating to a “c+” rating in a research report on Thursday, February 8th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.30.

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.