Envestnet Asset Management Inc. Decreases Stake in BorgWarner Inc. (NYSE:BWA)

Envestnet Asset Management Inc. lowered its position in shares of BorgWarner Inc. (NYSE:BWA) by 0.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 274,145 shares of the auto parts company’s stock after selling 904 shares during the quarter. Envestnet Asset Management Inc. owned about 0.12% of BorgWarner worth $7,854,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of BWA. Penserra Capital Management LLC increased its position in BorgWarner by 3,367.6% in the first quarter. Penserra Capital Management LLC now owns 19,176 shares of the auto parts company’s stock worth $549,000 after buying an additional 18,623 shares during the period. Bank of New York Mellon Corp boosted its stake in BorgWarner by 11.1% during the first quarter. Bank of New York Mellon Corp now owns 1,875,161 shares of the auto parts company’s stock valued at $53,723,000 after buying an additional 187,266 shares in the last quarter. Impax Asset Management Group plc bought a new position in BorgWarner during the first quarter valued at about $646,000. Goelzer Investment Management Inc. boosted its stake in BorgWarner by 1.2% during the first quarter. Goelzer Investment Management Inc. now owns 131,474 shares of the auto parts company’s stock valued at $3,767,000 after buying an additional 1,578 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of BorgWarner by 338.5% in the 1st quarter. Principal Financial Group Inc. now owns 1,085,149 shares of the auto parts company’s stock valued at $31,090,000 after purchasing an additional 837,668 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Insider Activity at BorgWarner

In other BorgWarner news, EVP Tonit M. Calaway sold 27,736 shares of BorgWarner stock in a transaction on Monday, May 12th. The stock was 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. The trade was a 11.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Isabelle Mckenzie sold 5,000 shares of BorgWarner stock in a transaction on Friday, May 16th. The shares were 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 directly 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 disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

BWA has been the subject of a number of recent research reports. Bank of America raised their price target on BorgWarner from $35.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. Guggenheim cut their price target on BorgWarner from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Barclays reaffirmed an “overweight” rating and set a $45.00 price target (up from $42.00) on shares of BorgWarner in a research note on Wednesday, July 16th. Robert W. Baird raised their price objective on BorgWarner from $32.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. Finally, UBS Group raised their price objective on BorgWarner from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.07.

BorgWarner Stock Up 1.1%

NYSE:BWA opened at $35.37 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.60 and a current ratio of 1.97. The company has a market cap of $7.77 billion, a PE ratio of 28.29, a PEG ratio of 1.54 and a beta of 1.09. BorgWarner Inc. has a 52-week low of $24.40 and a 52-week high of $37.29. The stock has a 50-day simple moving average of $33.67 and a 200 day simple moving average of $30.92.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Wednesday, May 7th. The auto parts company reported $1.11 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 firm had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts expect that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued 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 currently 35.20%.

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.