Federated Hermes Inc. Sells 113,362 Shares of BorgWarner Inc. $BWA

Federated Hermes Inc. lessened its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 99.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 839 shares of the auto parts company’s stock after selling 113,362 shares during the period. Federated Hermes Inc.’s holdings in BorgWarner were worth $37,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC increased its stake in BorgWarner by 23.7% during the 1st quarter. Acadian Asset Management LLC now owns 8,979 shares of the auto parts company’s stock worth $257,000 after acquiring an additional 1,723 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of BorgWarner during the 2nd quarter worth $339,000. Truist Financial Corp grew its holdings in shares of BorgWarner by 7.0% during the 2nd quarter. Truist Financial Corp now owns 17,336 shares of the auto parts company’s stock worth $580,000 after purchasing an additional 1,134 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of BorgWarner in the second quarter worth $220,000. Finally, Vanguard Personalized Indexing Management LLC raised its stake in BorgWarner by 13.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 27,787 shares of the auto parts company’s stock valued at $930,000 after purchasing an additional 3,252 shares in the last quarter. 95.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on BWA. Robert W. Baird set a $55.00 target price on shares of BorgWarner in a report on Wednesday, January 14th. Morgan Stanley reissued an “equal weight” rating and issued a $49.00 price objective (up from $42.00) on shares of BorgWarner in a research note on Monday, December 8th. Evercore boosted their price objective on shares of BorgWarner from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BorgWarner in a report on Wednesday, January 21st. Finally, Wells Fargo & Company lowered their price target on BorgWarner from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, December 9th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.31.

BorgWarner Price Performance

BorgWarner stock opened at $54.12 on Wednesday. The stock has a 50-day moving average price of $46.80 and a two-hundred day moving average price of $44.08. BorgWarner Inc. has a 12 month low of $24.40 and a 12 month high of $54.45. The company has a market capitalization of $11.58 billion, a PE ratio of 85.91, a P/E/G ratio of 1.07 and a beta of 1.09. The company has a current ratio of 2.05, a quick ratio of 1.69 and a debt-to-equity ratio of 0.63.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.3%. BorgWarner’s dividend payout ratio (DPR) is presently 107.94%.

BorgWarner Profile

BorgWarner Inc is a global automotive supplier specializing in propulsion and drivetrain solutions for combustion, hybrid and electric vehicles. The company’s product portfolio includes turbochargers, thermal management systems, transmission components, e-Propulsion modules and advanced fuel-efficiency technologies. BorgWarner serves original equipment manufacturers (OEMs) across passenger cars, light trucks and commercial vehicles, supporting both legacy internal-combustion engines and emerging electrification trends.

Founded in 1928 through the merger of several driveline companies, BorgWarner has grown through strategic acquisitions and continuous investment in research and development.