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

Federated Hermes Inc. decreased its stake in BorgWarner Inc. (NYSE:BWA) by 99.3% in the 3rd quarter, HoldingsChannel reports. 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BWA. Valeo Financial Advisors LLC bought a new stake in BorgWarner in the third quarter valued at approximately $259,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of BorgWarner by 8.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 30,043 shares of the auto parts company’s stock worth $1,321,000 after purchasing an additional 2,256 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of BorgWarner by 29.9% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 604,828 shares of the auto parts company’s stock valued at $26,588,000 after purchasing an additional 139,164 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of BorgWarner by 3.4% during the third quarter. Envestnet Portfolio Solutions Inc. now owns 10,937 shares of the auto parts company’s stock worth $481,000 after buying an additional 356 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in BorgWarner by 100.7% during the third quarter. Teacher Retirement System of Texas now owns 133,978 shares of the auto parts company’s stock worth $5,890,000 after buying an additional 67,209 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

BorgWarner Stock Up 2.6%

BorgWarner stock opened at $54.12 on Wednesday. The firm has a market capitalization of $11.58 billion, a price-to-earnings ratio of 85.91, a price-to-earnings-growth ratio of 1.07 and a beta of 1.09. The firm’s fifty day moving average price is $46.80 and its two-hundred day moving average price is $44.08. BorgWarner Inc. has a 1-year low of $24.40 and a 1-year high of $54.45. 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 business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.3%. BorgWarner’s payout ratio is 107.94%.

Analyst Ratings Changes

BWA has been the topic of a number of research analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $49.00 price target (up previously from $42.00) on shares of BorgWarner in a research report on Monday, December 8th. Piper Sandler restated a “neutral” rating and set a $51.00 target price (down previously from $52.00) on shares of BorgWarner in a research report on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of BorgWarner in a report on Wednesday, January 21st. Wells Fargo & Company dropped their price target on BorgWarner from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of BorgWarner from $45.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.31.

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.