Prudential PLC boosted its holdings in BorgWarner Inc. (NYSE:BWA – Free Report) by 175.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,747 shares of the auto parts company’s stock after buying an additional 38,705 shares during the quarter. Prudential PLC’s holdings in BorgWarner were worth $2,737,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in BWA. Sound Income Strategies LLC grew its position in BorgWarner by 9,888.9% in the fourth quarter. Sound Income Strategies LLC now owns 899 shares of the auto parts company’s stock worth $42,000 after buying an additional 890 shares during the last quarter. Torren Management LLC acquired a new position in BorgWarner in the fourth quarter worth approximately $48,000. Olistico Wealth LLC acquired a new position in BorgWarner in the fourth quarter worth approximately $50,000. Hantz Financial Services Inc. grew its position in BorgWarner by 32.7% in the third quarter. Hantz Financial Services Inc. now owns 1,470 shares of the auto parts company’s stock worth $65,000 after buying an additional 362 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in BorgWarner in the third quarter worth approximately $70,000. Institutional investors and hedge funds own 95.67% of the company’s stock.
BorgWarner Trading Up 0.1%
NYSE BWA opened at $72.72 on Monday. BorgWarner Inc. has a twelve month low of $32.22 and a twelve month high of $78.82. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.75 and a current ratio of 2.13. The stock has a market cap of $14.92 billion, a price-to-earnings ratio of 43.03, a PEG ratio of 1.39 and a beta of 1.07. The firm’s 50 day moving average price is $60.20 and its two-hundred day moving average price is $53.32.
BorgWarner Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, June 1st. BorgWarner’s payout ratio is currently 40.24%.
Insider Buying and Selling at BorgWarner
In other news, EVP Paul Arthur Farrell sold 12,012 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $52.31, for a total transaction of $628,347.72. Following the transaction, the executive vice president directly owned 38,238 shares in the company, valued at $2,000,229.78. The trade was a 23.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Isabelle Mckenzie sold 3,500 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $63.35, for a total transaction of $221,725.00. Following the transaction, the vice president owned 57,828 shares in the company, valued at approximately $3,663,403.80. This represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 82,012 shares of company stock worth $5,071,038 over the last 90 days. 0.76% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several research analysts have issued reports on BWA shares. Robert W. Baird set a $76.00 price target on shares of BorgWarner in a research report on Thursday, February 12th. The Goldman Sachs Group lifted their price target on shares of BorgWarner from $54.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Wolfe Research restated an “outperform” rating and issued a $95.00 price target on shares of BorgWarner in a research report on Wednesday. TD Cowen lifted their price target on shares of BorgWarner from $66.00 to $67.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft set a $81.00 price objective on shares of BorgWarner in a research report on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.14.
Check Out Our Latest Report on BorgWarner
About BorgWarner
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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