MetLife Investment Management LLC Sells 53,951 Shares of BorgWarner Inc. $BWA

MetLife Investment Management LLC lowered its stake in BorgWarner Inc. (NYSE:BWA) by 93.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,915 shares of the auto parts company’s stock after selling 53,951 shares during the period. MetLife Investment Management LLC’s holdings in BorgWarner were worth $112,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of BWA. Global X Japan Co. Ltd. increased its position in shares of BorgWarner by 133.4% in 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. Manchester Capital Management LLC bought a new position in shares of BorgWarner in the first quarter worth $30,000. LRI Investments LLC increased its position in shares of BorgWarner by 1,515.0% in 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. Meeder Asset Management Inc. increased its position in shares of BorgWarner by 63.5% in the first quarter. Meeder Asset Management Inc. now owns 1,388 shares of the auto parts company’s stock worth $40,000 after purchasing an additional 539 shares during the period. Finally, Allworth Financial LP increased its position in shares of BorgWarner by 123.1% in the first 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. Institutional investors own 95.67% of the company’s stock.

Insider Transactions at BorgWarner

In other news, VP Stefan Demmerle sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $40.50, for a total transaction of $202,500.00. Following the sale, the vice president directly owned 229,040 shares in the company, valued at approximately $9,276,120. The trade was a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Isabelle Mckenzie sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $40.01, for a total value of $100,025.00. Following the sale, the vice president owned 55,945 shares in the company, valued at approximately $2,238,359.45. This trade represents a 4.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,272 shares of company stock worth $1,263,318. Insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Piper Sandler raised their price target on BorgWarner from $37.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Robert W. Baird upgraded BorgWarner from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $41.00 to $52.00 in a research report on Wednesday, September 3rd. Wells Fargo & Company lifted their target price on BorgWarner from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on BorgWarner from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Finally, UBS Group lifted their target price on BorgWarner from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, BorgWarner currently has a consensus rating of “Moderate Buy” and an average target price of $41.21.

BorgWarner Stock Performance

NYSE:BWA opened at $43.17 on Thursday. The stock has a market cap of $9.34 billion, a P/E ratio of 45.92, a price-to-earnings-growth ratio of 1.32 and a beta of 1.09. The company has a current ratio of 2.02, a quick ratio of 1.66 and a debt-to-equity ratio of 0.64. The stock’s 50-day moving average is $39.02 and its 200-day moving average is $33.27. BorgWarner Inc. has a 1-year low of $24.40 and a 1-year high of $44.45.

BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, July 31st. The auto parts company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.15. The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.56 billion. BorgWarner had a return on equity of 16.17% and a net margin of 1.50%.The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.19 earnings per share. BorgWarner has set its FY 2025 guidance at 4.450-4.65 EPS. Equities research analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner announced that its Board of Directors has approved a stock buyback plan on Thursday, July 31st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the auto parts company to purchase up to 13.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

BorgWarner Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. This is an increase from BorgWarner’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, September 2nd. BorgWarner’s dividend payout ratio (DPR) is presently 72.34%.

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.