Cerity Partners LLC Lowers Stock Position in BorgWarner Inc. (NYSE:BWA)

Cerity Partners LLC lowered its position in BorgWarner Inc. (NYSE:BWA) by 25.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,479 shares of the auto parts company’s stock after selling 37,848 shares during the quarter. Cerity Partners LLC owned 0.05% of BorgWarner worth $3,165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in BWA. Global X Japan Co. Ltd. increased its stake 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 acquiring an additional 523 shares during the last quarter. LRI Investments LLC grew its holdings in shares of BorgWarner by 1,515.0% during the 4th 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. Allworth Financial LP grew its holdings in shares of BorgWarner by 123.1% during the 1st quarter. Allworth Financial LP now owns 1,437 shares of the auto parts company’s stock worth $41,000 after purchasing an additional 793 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in BorgWarner during the 4th quarter worth approximately $45,000. Finally, Golden State Wealth Management LLC raised its holdings in BorgWarner by 596.1% in the first quarter. Golden State Wealth Management LLC now owns 1,601 shares of the auto parts company’s stock valued at $46,000 after buying an additional 1,371 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

BWA has been the topic of a number of research reports. UBS Group raised their target price on shares of BorgWarner from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Wells Fargo & Company raised their target price on BorgWarner from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Wall Street Zen upgraded BorgWarner from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 12th. Bank of America increased their price objective on shares of BorgWarner from $35.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, June 16th. Finally, The Goldman Sachs Group raised shares of BorgWarner from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $31.00 to $34.00 in a research report on Thursday, April 10th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.07.

Insider Activity

In related news, EVP Tonit M. Calaway sold 27,736 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $32.83, for a total transaction of $910,572.88. Following the sale, the executive vice president owned 214,521 shares in the company, valued at $7,042,724.43. This represents a 11.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Isabelle Mckenzie sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $33.25, for a total transaction of $166,250.00. Following the completion of the transaction, the vice president directly owned 63,445 shares in the company, valued at $2,109,546.25. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

BorgWarner Price Performance

Shares of BWA stock opened at $34.99 on Friday. The firm has a fifty day moving average of $33.67 and a two-hundred day moving average of $30.93. The firm has a market cap of $7.69 billion, a P/E ratio of 27.99, a P/E/G ratio of 1.56 and a beta of 1.09. BorgWarner Inc. has a 1-year low of $24.40 and a 1-year high of $37.29. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.97 and a quick ratio of 1.60.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.13. BorgWarner had a return on equity of 16.13% and a net margin of 2.06%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the company posted $1.03 EPS. The business’s revenue was down 2.2% compared to the same quarter last year. As a group, research analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.26%. BorgWarner’s dividend payout ratio (DPR) is presently 35.20%.

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.