BorgWarner Inc. $BWA Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in BorgWarner Inc. (NYSE:BWA) by 11.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 269,338 shares of the auto parts company’s stock after selling 35,324 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.12% of BorgWarner worth $11,840,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Frank Rimerman Advisors LLC acquired a new position in shares of BorgWarner in the 3rd quarter valued at $260,000. AlphaQuest LLC purchased a new position in BorgWarner in the third quarter valued at $458,000. Arizona State Retirement System increased its holdings in BorgWarner by 1.4% in the third quarter. Arizona State Retirement System now owns 65,017 shares of the auto parts company’s stock valued at $2,858,000 after buying an additional 904 shares in the last quarter. Great Lakes Advisors LLC raised its position in shares of BorgWarner by 9.5% in the third quarter. Great Lakes Advisors LLC now owns 1,093,306 shares of the auto parts company’s stock worth $48,062,000 after acquiring an additional 94,470 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of BorgWarner by 18.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,321 shares of the auto parts company’s stock worth $102,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

BorgWarner Trading Up 4.0%

Shares of BWA stock opened at $50.53 on Thursday. BorgWarner Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $50.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.69 and a current ratio of 2.05. The stock’s fifty day moving average is $46.06 and its two-hundred day moving average is $43.56. The firm has a market capitalization of $10.81 billion, a P/E ratio of 80.21, a PEG ratio of 0.98 and a beta of 1.09.

BorgWarner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.17 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.68 dividend on an annualized basis and a yield of 1.3%. BorgWarner’s dividend payout ratio is presently 107.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Evercore ISI upped their price target on BorgWarner from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, November 24th. UBS Group upped their target price on BorgWarner from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Weiss Ratings reissued a “hold (c)” rating on shares of BorgWarner in a research note on Wednesday, January 21st. Piper Sandler restated a “neutral” rating and set a $51.00 price objective (down from $52.00) on shares of BorgWarner in a research report on Thursday, January 8th. Finally, Zacks Research downgraded shares of BorgWarner from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, BorgWarner has a consensus rating of “Moderate Buy” and a consensus target price of $47.31.

Insiders Place Their Bets

In other news, VP Stefan Demmerle sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $45.52, for a total transaction of $682,800.00. Following the transaction, the vice president directly owned 209,040 shares in the company, valued at $9,515,500.80. The trade was a 6.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.45% of the stock is owned by company insiders.

About BorgWarner

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.