American International Group Inc. reduced its position in shares of BorgWarner Inc. (NYSE:BWA) by 1.2% during the first quarter, Holdings Channel reports. The institutional investor owned 71,908 shares of the auto parts company’s stock after selling 882 shares during the period. American International Group Inc.’s holdings in BorgWarner were worth $3,005,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in BorgWarner during the fourth quarter worth $108,510,000. Pioneer Investment Management Inc. increased its position in BorgWarner by 56.7% in the first quarter. Pioneer Investment Management Inc. now owns 3,288,289 shares of the auto parts company’s stock worth $137,417,000 after buying an additional 1,190,369 shares in the last quarter. Minneapolis Portfolio Management Group LLC purchased a new position in BorgWarner during the first quarter worth $18,443,000. Schroder Investment Management Group increased its position in BorgWarner by 22.8% in the first quarter. Schroder Investment Management Group now owns 2,284,720 shares of the auto parts company’s stock worth $95,867,000 after buying an additional 423,844 shares in the last quarter. Finally, Boston Partners increased its position in BorgWarner by 3.9% in the first quarter. Boston Partners now owns 10,581,160 shares of the auto parts company’s stock worth $442,187,000 after buying an additional 397,426 shares in the last quarter. 93.37% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

Shares of BorgWarner Inc. (NYSE BWA) opened at 40.99 on Friday. The company’s 50-day moving average price is $42.12 and its 200 day moving average price is $40.95. The company has a market cap of $8.70 billion, a P/E ratio of 61.00 and a beta of 1.62. BorgWarner Inc. has a 52 week low of $27.52 and a 52 week high of $45.05.

BorgWarner (NYSE:BWA) last issued its earnings results on Thursday, April 27th. The auto parts company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. BorgWarner had a return on equity of 20.10% and a net margin of 1.56%. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the business earned $0.80 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that BorgWarner Inc. will post $3.56 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were paid a $0.14 dividend. The ex-dividend date was Tuesday, May 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.37%. BorgWarner’s payout ratio is 86.16%.

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A number of research analysts have weighed in on BWA shares. TheStreet raised BorgWarner from a “c+” rating to a “b” rating in a report on Monday, May 1st. Zacks Investment Research raised BorgWarner from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Monday, May 22nd. Deutsche Bank AG raised BorgWarner from a “hold” rating to a “buy” rating and increased their target price for the company from $41.00 to $51.00 in a report on Wednesday, March 22nd. Morgan Stanley lowered their target price on BorgWarner from $34.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, June 9th. Finally, Jefferies Group LLC set a $48.00 target price on BorgWarner and gave the company a “buy” rating in a report on Thursday, April 6th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $40.62.

In related news, Director Dennis C. Cuneo sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $44.06, for a total value of $44,060.00. Following the completion of the transaction, the director now owns 13,398 shares of the company’s stock, valued at approximately $590,315.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ronald T. Hundzinski sold 3,776 shares of the company’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $41.53, for a total value of $156,817.28. Following the completion of the transaction, the insider now directly owns 141,958 shares of the company’s stock, valued at approximately $5,895,515.74. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

About BorgWarner

BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.

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