Swiss National Bank Sells 18,900 Shares of BorgWarner Inc. (NYSE:BWA)

Swiss National Bank reduced its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 2.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 735,084 shares of the auto parts company’s stock after selling 18,900 shares during the period. Swiss National Bank’s holdings in BorgWarner were worth $26,353,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BWA. Boston Partners grew its stake in BorgWarner by 58.9% in the third quarter. Boston Partners now owns 5,267,500 shares of the auto parts company’s stock valued at $211,762,000 after purchasing an additional 1,951,783 shares in the last quarter. Invesco Ltd. grew its stake in shares of BorgWarner by 30.4% in the third quarter. Invesco Ltd. now owns 4,399,084 shares of the auto parts company’s stock valued at $177,591,000 after buying an additional 1,024,361 shares in the last quarter. Victory Capital Management Inc. increased its holdings in BorgWarner by 10.9% during the fourth quarter. Victory Capital Management Inc. now owns 9,668,438 shares of the auto parts company’s stock worth $346,614,000 after buying an additional 948,659 shares during the last quarter. Ninety One UK Ltd raised its position in BorgWarner by 85.1% during the fourth quarter. Ninety One UK Ltd now owns 1,656,221 shares of the auto parts company’s stock worth $59,376,000 after acquiring an additional 761,250 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in BorgWarner by 18.3% in the third quarter. American Century Companies Inc. now owns 4,189,541 shares of the auto parts company’s stock valued at $169,132,000 after acquiring an additional 648,633 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

BorgWarner Stock Up 2.0 %

NYSE BWA opened at $37.52 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The company has a market cap of $8.55 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.08 and a beta of 1.30. The company has a 50 day moving average of $33.49 and a 200-day moving average of $33.70. BorgWarner Inc. has a 1-year low of $29.51 and a 1-year high of $50.04.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.16. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.51 billion. BorgWarner had a return on equity of 15.33% and a net margin of 4.02%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 EPS. On average, equities research analysts expect that BorgWarner Inc. will post 3.94 earnings per share for the current fiscal year.

BorgWarner declared that its Board of Directors has approved a share repurchase program on Thursday, May 2nd that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the auto parts company to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

BorgWarner Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Monday, June 3rd. BorgWarner’s dividend payout ratio is currently 16.67%.

Insider Transactions at BorgWarner

In related news, VP Stefan Demmerle sold 3,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total transaction of $99,000.00. Following the sale, the vice president now owns 249,013 shares of the company’s stock, valued at approximately $8,217,429. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other BorgWarner news, VP Stefan Demmerle sold 3,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total value of $99,000.00. Following the completion of the transaction, the vice president now directly owns 249,013 shares in the company, valued at $8,217,429. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Volker Weng sold 20,000 shares of BorgWarner stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $32.85, for a total value of $657,000.00. Following the sale, the vice president now directly owns 111,964 shares in the company, valued at $3,678,017.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 287,503 shares of company stock valued at $9,015,478. Corporate insiders own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BNP Paribas cut shares of BorgWarner from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $43.00 to $35.00 in a report on Tuesday, February 20th. StockNews.com raised BorgWarner from a “hold” rating to a “buy” rating in a research report on Monday. The Goldman Sachs Group dropped their price target on BorgWarner from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. TD Cowen lifted their price objective on shares of BorgWarner from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Piper Sandler started coverage on shares of BorgWarner in a report on Friday, March 15th. They issued an “overweight” rating and a $43.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.76.

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.