Goelzer Investment Management Inc. Lowers Stake in BorgWarner Inc. (NYSE:BWA)

Goelzer Investment Management Inc. reduced its position in shares of BorgWarner Inc. (NYSE:BWA) by 0.8% during the 1st quarter, HoldingsChannel reports. The fund owned 128,901 shares of the auto parts company’s stock after selling 995 shares during the period. Goelzer Investment Management Inc.’s holdings in BorgWarner were worth $4,098,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Truist Financial Corp boosted its stake in shares of BorgWarner by 4.0% during the 4th quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company’s stock worth $487,000 after acquiring an additional 595 shares in the last quarter. Norges Bank purchased a new position in BorgWarner in the 4th quarter valued at about $62,180,000. Proficio Capital Partners LLC purchased a new position in BorgWarner in the 4th quarter valued at about $1,197,000. AIA Group Ltd purchased a new position in BorgWarner in the 4th quarter valued at about $1,599,000. Finally, Intact Investment Management Inc. purchased a new position in BorgWarner in the 4th quarter valued at about $5,077,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BorgWarner

In related news, EVP Tonit M. Calaway sold 27,736 shares of BorgWarner stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $32.83, for a total value of $910,572.88. Following the completion of the sale, the executive vice president now owns 214,521 shares in the company, valued at approximately $7,042,724.43. This trade represents a 11.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Isabelle Mckenzie sold 5,000 shares of BorgWarner stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $33.25, for a total transaction of $166,250.00. Following the completion of the sale, the vice president now owns 63,445 shares of the company’s stock, valued at $2,109,546.25. This trade represents a 7.31% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

BorgWarner Stock Down 1.6%

BWA stock opened at $32.76 on Monday. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 1.44 and a beta of 1.10. The company has a current ratio of 1.97, a quick ratio of 1.60 and a debt-to-equity ratio of 0.65. BorgWarner Inc. has a 12 month low of $24.40 and a 12 month high of $37.29. The firm has a 50-day moving average of $31.07 and a two-hundred day moving average of $30.65.

BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.13. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.39 billion. BorgWarner had a net margin of 2.06% and a return on equity of 16.13%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. As a group, analysts forecast that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.34%. BorgWarner’s dividend payout ratio is currently 35.20%.

Analyst Upgrades and Downgrades

BWA has been the topic of a number of research reports. BNP Paribas raised shares of BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 price target on the stock in a research note on Tuesday, March 18th. Bank of America raised their price target on shares of BorgWarner from $35.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, June 16th. Cowen lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Robert W. Baird raised their price target on shares of BorgWarner from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company raised their price target on shares of BorgWarner from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, May 19th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, BorgWarner presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.47.

BorgWarner Company 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.