Toronto Dominion Bank Sells 36,415 Shares of BorgWarner Inc. (NYSE:BWA)

Toronto Dominion Bank decreased its position in BorgWarner Inc. (NYSE:BWA) by 37.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,953 shares of the auto parts company’s stock after selling 36,415 shares during the quarter. Toronto Dominion Bank’s holdings in BorgWarner were worth $1,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC lifted its position in 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 buying an additional 342 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in BorgWarner by 0.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 54,432 shares of the auto parts company’s stock worth $1,730,000 after buying an additional 381 shares during the last quarter. Norinchukin Bank The lifted its position in BorgWarner by 4.4% in the 4th quarter. Norinchukin Bank The now owns 9,501 shares of the auto parts company’s stock worth $302,000 after buying an additional 402 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in BorgWarner by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 48,349 shares of the auto parts company’s stock worth $1,537,000 after buying an additional 450 shares during the last quarter. Finally, Blackston Financial Advisory Group LLC lifted its position in BorgWarner by 8.3% in the 4th quarter. Blackston Financial Advisory Group LLC now owns 6,404 shares of the auto parts company’s stock worth $204,000 after buying an additional 490 shares during the last quarter. Institutional investors own 95.67% of the company’s stock.

Insider Buying and Selling

In related news, VP Isabelle Mckenzie sold 5,000 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $33.25, for a total value of $166,250.00. Following the sale, the vice president now directly owns 63,445 shares of the company’s stock, valued at $2,109,546.25. This represents a 7.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Tonit M. Calaway sold 8,300 shares of the company’s 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 sale, the chief accounting officer now directly owns 242,257 shares in the company, valued at approximately $7,284,667.99. The trade was a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,036 shares of company stock valued at $2,017,364 over the last ninety days. Company insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on BWA shares. BNP Paribas upgraded BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 price objective for the company in a research report on Tuesday, March 18th. Guggenheim lowered their price objective on BorgWarner from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Barclays lowered their price objective on BorgWarner from $42.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. TD Cowen downgraded BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research report on Friday, March 7th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $37.00 price objective (up previously from $36.00) on shares of BorgWarner in a research report on Thursday. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.73.

BorgWarner Price Performance

BWA opened at $32.68 on Friday. 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 52-week low of $24.40 and a 52-week high of $37.29. The stock has a market capitalization of $7.18 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 0.77 and a beta of 1.08. The stock’s 50 day moving average price is $28.93 and its 200-day moving average price is $30.89.

BorgWarner (NYSE:BWA) last issued its quarterly 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 company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.39 billion. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 earnings per share. On average, equities research analysts predict that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.35%. BorgWarner’s payout ratio is 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.