BorgWarner Inc. (NYSE:BWA) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its position in BorgWarner Inc. (NYSE:BWA) by 66.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 821,278 shares of the auto parts company’s stock after selling 1,638,018 shares during the period. Millennium Management LLC owned approximately 0.38% of BorgWarner worth $26,108,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BWA. LRI Investments LLC grew its holdings in shares of BorgWarner by 1,515.0% in the 4th quarter. LRI Investments LLC now owns 969 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 909 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in shares of BorgWarner in the 4th quarter worth approximately $45,000. Avior Wealth Management LLC grew its holdings in shares of BorgWarner by 31.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company’s stock worth $46,000 after acquiring an additional 342 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of BorgWarner in the 4th quarter worth approximately $48,000. Finally, Quarry LP grew its holdings in BorgWarner by 110.6% during the 4th quarter. Quarry LP now owns 1,826 shares of the auto parts company’s stock valued at $58,000 after buying an additional 959 shares during the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

Insider Buying and Selling

In related news, EVP Tania Wingfield sold 24,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total value of $690,960.00. Following the transaction, the executive vice president now directly owns 39,110 shares of the company’s stock, valued at approximately $1,125,976.90. This trade represents a 38.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Tonit M. Calaway sold 8,300 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.07, for a total value of $249,581.00. Following the completion of the transaction, the chief accounting officer now directly owns 242,257 shares in the company, valued at $7,284,667.99. This trade represents a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,036 shares of company stock valued at $1,851,114. 0.45% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BWA shares. Robert W. Baird increased their target price on BorgWarner from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Cowen cut BorgWarner from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Wells Fargo & Company increased their target price on BorgWarner from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Monday. Guggenheim lowered their target price on BorgWarner from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, BorgWarner has a consensus rating of “Moderate Buy” and an average target price of $37.67.

BorgWarner Trading Down 0.8%

Shares of BorgWarner stock opened at $33.06 on Tuesday. BorgWarner Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $37.29. The firm has a market cap of $7.26 billion, a PE ratio of 23.12, a P/E/G ratio of 0.77 and a beta of 1.08. The business’s fifty day moving average is $28.57 and its two-hundred day moving average is $30.87. The company has a quick ratio of 1.45, a current ratio of 1.79 and a debt-to-equity ratio of 0.66.

BorgWarner (NYSE:BWA) last issued its earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.13. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.39 billion. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. Analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.33%. BorgWarner’s dividend payout ratio (DPR) is currently 35.20%.

BorgWarner Profile

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.