Nuveen Asset Management LLC Sells 1,350,517 Shares of BorgWarner Inc. (NYSE:BWA)

Nuveen Asset Management LLC lessened its position in shares of BorgWarner Inc. (NYSE:BWA) by 45.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,604,941 shares of the auto parts company’s stock after selling 1,350,517 shares during the period. Nuveen Asset Management LLC’s holdings in BorgWarner were worth $51,021,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. LRI Investments LLC lifted its stake in BorgWarner by 1,515.0% in the fourth quarter. LRI Investments LLC now owns 969 shares of the auto parts company’s stock valued at $31,000 after buying an additional 909 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in BorgWarner in the fourth quarter valued at approximately $45,000. Avior Wealth Management LLC lifted its stake in BorgWarner by 31.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company’s stock valued at $46,000 after buying an additional 342 shares during the period. Kapitalo Investimentos Ltda acquired a new position in BorgWarner in the fourth quarter valued at approximately $48,000. Finally, Quarry LP lifted its stake in BorgWarner by 110.6% in the fourth 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 period. Institutional investors own 95.67% of the company’s stock.

BorgWarner Price Performance

Shares of BWA stock opened at $33.06 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.79. 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 P/E ratio of 23.12, a P/E/G ratio of 0.77 and a beta of 1.08. The business’s 50 day moving average price is $28.57 and its 200-day moving average price is $30.87.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.13. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.33%. BorgWarner’s dividend payout ratio is currently 35.20%.

Insider Buying and Selling

In other BorgWarner news, CAO Tonit M. Calaway sold 8,300 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now owns 242,257 shares in the company, valued at $7,284,667.99. This represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Tania Wingfield sold 24,000 shares of the 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 sale, the executive vice president now owns 39,110 shares of the company’s stock, valued at $1,125,976.90. This represents a 38.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,036 shares of company stock valued at $1,851,114 over the last 90 days. Company insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on BWA shares. Piper Sandler dropped their price target on BorgWarner from $43.00 to $36.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. JPMorgan Chase & Co. dropped their price target on BorgWarner from $51.00 to $49.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Cowen lowered BorgWarner from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Robert W. Baird upped their target price on BorgWarner from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Finally, Evercore ISI lowered their target price on BorgWarner from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.67.

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.