Atlas Capital Advisors Inc. acquired a new position in BorgWarner Inc. (NYSE:BWA – Free Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 17,317 shares of the auto parts company’s stock, valued at approximately $780,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BWA. AQR Capital Management LLC increased its position in BorgWarner by 119.7% in 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 purchasing an additional 4,095,902 shares during the period. Norges Bank acquired a new stake in BorgWarner in the fourth quarter worth about $156,794,000. Adage Capital Partners GP L.L.C. boosted its holdings in BorgWarner by 233.6% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,111,000 shares of the auto parts company’s stock worth $37,196,000 after buying an additional 778,000 shares during the last quarter. Electron Capital Partners LLC bought a new position in BorgWarner during the third quarter worth about $31,820,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in BorgWarner by 64.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,835,337 shares of the auto parts company’s stock worth $82,700,000 after buying an additional 722,356 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.
BorgWarner Trading Up 0.1%
Shares of BorgWarner stock opened at $74.61 on Monday. BorgWarner Inc. has a 12-month low of $32.24 and a 12-month high of $78.82. The stock has a market cap of $15.30 billion, a P/E ratio of 44.15, a P/E/G ratio of 1.43 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. The business’s 50 day moving average is $62.20 and its 200-day moving average is $54.43.
BorgWarner Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, June 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. BorgWarner’s dividend payout ratio is currently 40.24%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on BWA. Morgan Stanley raised their target price on BorgWarner from $60.00 to $67.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Barclays raised their target price on BorgWarner from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of BorgWarner in a report on Monday, April 20th. Evercore restated an “outperform” rating and set a $75.00 target price on shares of BorgWarner in a report on Tuesday, February 17th. Finally, Wolfe Research reiterated an “outperform” rating and set a $95.00 price objective on shares of BorgWarner in a report on Wednesday, June 3rd. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.00.
Insiders Place Their Bets
In related news, VP Isabelle Mckenzie sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $63.35, for a total transaction of $221,725.00. Following the transaction, the vice president directly owned 57,828 shares of the company’s stock, valued at approximately $3,663,403.80. The trade was a 5.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stefan Demmerle sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $59.26, for a total value of $1,185,200.00. Following the transaction, the vice president directly owned 213,746 shares in the company, valued at $12,666,587.96. The trade was a 8.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 67,500 shares of company stock valued at $4,310,115 over the last 90 days. 0.76% of the stock is owned by insiders.
BorgWarner Company 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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