Envestnet Asset Management Inc. Sells 904 Shares of BorgWarner Inc. (NYSE:BWA)

Envestnet Asset Management Inc. reduced its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 0.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. 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 approximately 0.12% of BorgWarner worth $7,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BWA. Penserra Capital Management LLC lifted its holdings in BorgWarner by 3,367.6% during the 1st quarter. Penserra Capital Management LLC now owns 19,176 shares of the auto parts company’s stock worth $549,000 after purchasing an additional 18,623 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in BorgWarner by 11.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,875,161 shares of the auto parts company’s stock worth $53,723,000 after purchasing an additional 187,266 shares during the last quarter. Impax Asset Management Group plc acquired a new stake in BorgWarner during the 1st quarter worth approximately $646,000. Goelzer Investment Management Inc. lifted its holdings in BorgWarner by 1.2% during the 1st quarter. Goelzer Investment Management Inc. now owns 131,474 shares of the auto parts company’s stock worth $3,767,000 after purchasing an additional 1,578 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in BorgWarner by 338.5% during the 1st quarter. Principal Financial Group Inc. now owns 1,085,149 shares of the auto parts company’s stock worth $31,090,000 after purchasing an additional 837,668 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BWA shares. Robert W. Baird lifted their price target on BorgWarner from $32.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. Wall Street Zen raised BorgWarner from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 price objective (up from $36.00) on shares of BorgWarner in a report on Thursday, May 22nd. UBS Group lifted their price objective on BorgWarner from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Finally, The Goldman Sachs Group raised BorgWarner from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $31.00 to $34.00 in a report on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, BorgWarner has an average rating of “Moderate Buy” and a consensus target price of $39.07.

Insiders Place Their Bets

In related news, VP Isabelle Mckenzie sold 5,000 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $33.25, for a total transaction of $166,250.00. Following the sale, the vice president owned 63,445 shares in the company, valued at $2,109,546.25. The trade was a 7.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Tonit M. Calaway sold 27,736 shares of the business’s 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 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 position. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

BorgWarner Trading Up 1.1%

Shares of BWA opened at $35.37 on Tuesday. BorgWarner Inc. has a 52-week low of $24.40 and a 52-week high of $37.29. The business’s fifty day moving average is $33.67 and its 200-day moving average is $30.92. 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 firm has a market cap of $7.77 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 1.54 and a beta of 1.09.

BorgWarner (NYSE:BWA) last issued 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 company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the company posted $1.03 EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities analysts anticipate that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.24%. BorgWarner’s dividend payout ratio is currently 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.