Wells Fargo & Company MN Reduces Position in BorgWarner Inc. (NYSE:BWA)

Wells Fargo & Company MN trimmed its holdings in BorgWarner Inc. (NYSE:BWA) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,222 shares of the auto parts company’s stock after selling 46,592 shares during the quarter. Wells Fargo & Company MN’s holdings in BorgWarner were worth $14,885,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Norges Bank acquired a new position in BorgWarner during the fourth quarter worth $62,180,000. Swedbank AB boosted its position in shares of BorgWarner by 91.7% during the 4th quarter. Swedbank AB now owns 1,618,550 shares of the auto parts company’s stock valued at $51,454,000 after acquiring an additional 774,438 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of BorgWarner by 20.5% in the fourth quarter. American Century Companies Inc. now owns 3,656,194 shares of the auto parts company’s stock valued at $116,230,000 after purchasing an additional 621,243 shares during the period. Allspring Global Investments Holdings LLC increased its position in BorgWarner by 3,195.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 586,388 shares of the auto parts company’s stock worth $18,366,000 after purchasing an additional 568,594 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in BorgWarner by 6.8% during the fourth quarter. Alliancebernstein L.P. now owns 5,981,196 shares of the auto parts company’s stock worth $190,142,000 after purchasing an additional 381,504 shares during the period. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

BorgWarner Trading Up 0.9 %

NYSE:BWA opened at $26.42 on Tuesday. The stock has a fifty day moving average price of $28.66 and a 200 day moving average price of $31.79. The company has a current ratio of 1.79, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. BorgWarner Inc. has a 12-month low of $24.40 and a 12-month high of $38.23. The firm has a market cap of $5.80 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 0.77 and a beta of 1.12.

BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, February 6th. The auto parts company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.93 by $0.08. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. Sell-side analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Monday, March 3rd. BorgWarner’s dividend payout ratio (DPR) is 30.77%.

Analyst Ratings Changes

Several analysts have recently weighed in on BWA shares. Guggenheim set a $38.00 price target on shares of BorgWarner in a research note on Wednesday, March 5th. StockNews.com cut BorgWarner from a “buy” rating to a “hold” rating in a research note on Saturday. The Goldman Sachs Group raised BorgWarner from a “neutral” rating to a “buy” rating and upped their price target for the company from $31.00 to $34.00 in a research note on Thursday, April 10th. JPMorgan Chase & Co. cut their price objective on BorgWarner from $51.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Finally, Cowen lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.56.

Insider Buying and Selling at BorgWarner

In other news, EVP Tania Wingfield sold 24,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total value of $690,960.00. Following the completion of the sale, the executive vice president now directly owns 39,110 shares of the company’s stock, valued at approximately $1,125,976.90. The trade was a 38.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Tonit M. Calaway sold 13,500 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $30.16, for a total value of $407,160.00. Following the transaction, the chief accounting officer now owns 259,310 shares in the company, valued at $7,820,789.60. This represents a 4.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,800 shares of company stock worth $1,347,701 over the last three months. Insiders own 0.45% of the company’s stock.

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.