Bank of New York Mellon Corp Buys 187,266 Shares of BorgWarner Inc. (NYSE:BWA)

Bank of New York Mellon Corp boosted its stake in shares of BorgWarner Inc. (NYSE:BWA) by 11.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,875,161 shares of the auto parts company’s stock after purchasing an additional 187,266 shares during the quarter. Bank of New York Mellon Corp owned about 0.85% of BorgWarner worth $53,723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. boosted its position in BorgWarner by 133.4% during the first quarter. Global X Japan Co. Ltd. now owns 915 shares of the auto parts company’s stock worth $26,000 after purchasing an additional 523 shares during the period. LRI Investments LLC boosted its position in BorgWarner by 1,515.0% during the fourth quarter. LRI Investments LLC now owns 969 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 909 shares during the period. Resona Asset Management Co. Ltd. bought a new position in BorgWarner during the fourth quarter worth $45,000. Kapitalo Investimentos Ltda bought a new position in BorgWarner during the fourth quarter worth $48,000. Finally, Golden State Wealth Management LLC boosted its position in BorgWarner by 596.1% during the first quarter. Golden State Wealth Management LLC now owns 1,601 shares of the auto parts company’s stock worth $46,000 after purchasing an additional 1,371 shares during the period. 95.67% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Isabelle Mckenzie sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $33.25, for a total value of $166,250.00. Following the completion of the transaction, the vice president owned 63,445 shares of the company’s stock, valued at $2,109,546.25. This represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Tonit M. Calaway sold 27,736 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 214,521 shares of the company’s stock, valued at $7,042,724.43. This represents a 11.45% decrease in their position. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by insiders.

BorgWarner Trading Down 1.2%

BWA opened at $35.40 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 1.56 and a beta of 1.09. BorgWarner Inc. has a twelve month low of $24.40 and a twelve month high of $37.29. The company has a 50-day simple moving average of $33.17 and a 200 day simple moving average of $30.81.

BorgWarner (NYSE:BWA) last issued its earnings results on Wednesday, May 7th. The auto parts company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.98 by $0.13. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.39 billion. BorgWarner had a return on equity of 16.13% and a net margin of 2.06%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Analysts predict that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.24%. BorgWarner’s payout ratio is 35.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BWA shares. The Goldman Sachs Group raised shares of BorgWarner from a “neutral” rating to a “buy” rating and boosted their target price for the company from $31.00 to $34.00 in a research report on Thursday, April 10th. Wells Fargo & Company boosted their target price on shares of BorgWarner from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Robert W. Baird boosted their target price on shares of BorgWarner from $32.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday. UBS Group boosted 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. Finally, BNP Paribas raised shares of BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 target price for the company in a research report on Tuesday, March 18th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.14.

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.