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

Envestnet Asset Management Inc. lowered its position in BorgWarner Inc. (NYSE:BWA) by 0.3% in the 1st 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 period. Envestnet Asset Management Inc. owned about 0.12% of BorgWarner worth $7,854,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BWA. Dimensional Fund Advisors LP increased its position in shares of BorgWarner by 7.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,284,040 shares of the auto parts company’s stock worth $358,720,000 after acquiring an additional 753,344 shares during the period. Invesco Ltd. boosted its stake in BorgWarner by 10.2% in the fourth quarter. Invesco Ltd. now owns 6,795,020 shares of the auto parts company’s stock valued at $216,014,000 after acquiring an additional 628,930 shares in the last quarter. Alliancebernstein L.P. boosted its stake in BorgWarner by 6.8% in the fourth quarter. Alliancebernstein L.P. now owns 5,981,196 shares of the auto parts company’s stock valued at $190,142,000 after acquiring an additional 381,504 shares in the last quarter. LSV Asset Management boosted its stake in BorgWarner by 22.5% in the fourth quarter. LSV Asset Management now owns 4,308,145 shares of the auto parts company’s stock valued at $136,956,000 after acquiring an additional 792,100 shares in the last quarter. Finally, Turtle Creek Asset Management Inc. boosted its stake in BorgWarner by 7.0% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 4,078,780 shares of the auto parts company’s stock valued at $129,664,000 after acquiring an additional 267,250 shares in the last quarter. Institutional investors own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BWA. Barclays reaffirmed an “overweight” rating and issued a $45.00 price objective (up previously from $42.00) on shares of BorgWarner in a report on Wednesday, July 16th. Bank of America lifted their price objective on shares of BorgWarner from $35.00 to $41.00 and gave the company a “buy” rating in a report on Monday, June 16th. Wall Street Zen upgraded shares of BorgWarner from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 12th. Guggenheim dropped their target price on shares of BorgWarner from $38.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company lifted 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. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, BorgWarner has a consensus rating of “Moderate Buy” and a consensus price target of $39.07.

Insider Buying and Selling at BorgWarner

In other BorgWarner news, EVP Tonit M. Calaway sold 27,736 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $32.83, for a total transaction of $910,572.88. Following the completion of the sale, the executive vice president owned 214,521 shares in the company, valued at $7,042,724.43. The trade was a 11.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Isabelle Mckenzie sold 5,000 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $33.25, for a total transaction of $166,250.00. Following the transaction, the vice president directly owned 63,445 shares of the company’s stock, valued at approximately $2,109,546.25. This trade represents a 7.31% decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is owned by insiders.

BorgWarner Price Performance

Shares of NYSE 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 stock 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. The company’s 50-day moving average price is $33.67 and its 200 day moving average price is $30.92. The company has a current ratio of 1.97, a quick ratio of 1.60 and a debt-to-equity ratio of 0.65.

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

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.