Cookson Peirce & Co. Inc. lifted its holdings in BorgWarner Inc. (NYSE:BWA – Free Report) by 7.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 193,478 shares of the auto parts company’s stock after acquiring an additional 13,633 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in BorgWarner were worth $8,718,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in BorgWarner by 2.5% during the third quarter. Vanguard Group Inc. now owns 27,578,374 shares of the auto parts company’s stock worth $1,212,345,000 after buying an additional 667,788 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in BorgWarner by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 11,782,629 shares of the auto parts company’s stock worth $517,960,000 after buying an additional 155,871 shares in the last quarter. State Street Corp boosted its holdings in BorgWarner by 5.3% during the second quarter. State Street Corp now owns 7,633,760 shares of the auto parts company’s stock worth $255,578,000 after buying an additional 380,942 shares in the last quarter. AQR Capital Management LLC boosted its holdings in BorgWarner by 119.7% during the third quarter. AQR Capital Management LLC now owns 7,518,776 shares of the auto parts company’s stock worth $330,525,000 after buying an additional 4,095,902 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in BorgWarner by 6.7% during the fourth quarter. LSV Asset Management now owns 6,446,541 shares of the auto parts company’s stock worth $290,481,000 after buying an additional 402,887 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.
BorgWarner Stock Down 5.6%
Shares of NYSE BWA opened at $72.72 on Friday. The company’s 50-day simple moving average is $60.20 and its 200-day simple moving average is $53.25. BorgWarner Inc. has a 52-week low of $32.22 and a 52-week high of $78.82. The firm has a market cap of $14.92 billion, a price-to-earnings ratio of 43.03, a price-to-earnings-growth ratio of 1.39 and a beta of 1.07. The company has a quick ratio of 1.75, a current ratio of 2.13 and a debt-to-equity ratio of 0.69.
BorgWarner Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.17 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.68 annualized dividend and a dividend yield of 0.9%. BorgWarner’s dividend payout ratio (DPR) is 40.24%.
Analyst Ratings Changes
A number of brokerages recently issued reports on BWA. Barclays increased their price target on shares of BorgWarner from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen downgraded shares of BorgWarner from a “buy” rating to a “hold” rating in a report on Saturday. TD Cowen increased their price target on shares of BorgWarner from $66.00 to $67.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft set a $81.00 price target on shares of BorgWarner in a report on Tuesday, April 21st. Finally, Morgan Stanley increased their price target on shares of BorgWarner from $60.00 to $67.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $71.14.
Read Our Latest Stock Report on BWA
Insiders Place Their Bets
In other news, EVP Tania Wingfield sold 5,000 shares of BorgWarner stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $63.24, for a total value of $316,200.00. Following the sale, the executive vice president owned 35,365 shares in the company, valued at $2,236,482.60. This trade represents a 12.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Isabelle Mckenzie sold 3,500 shares of BorgWarner stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $63.35, for a total transaction of $221,725.00. Following the completion of the sale, the vice president owned 57,828 shares in the company, valued at approximately $3,663,403.80. This trade represents a 5.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 96,033 shares of company stock valued at $5,792,558. 0.76% of the stock is owned by company insiders.
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.
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