Bridgewater Associates LP Acquires 218,177 Shares of BorgWarner Inc. (NYSE:BWA)

Bridgewater Associates LP lifted its stake in BorgWarner Inc. (NYSE:BWA) by 57.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 597,124 shares of the auto parts company’s stock after purchasing an additional 218,177 shares during the period. Bridgewater Associates LP owned about 0.27% of BorgWarner worth $18,983,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Truist Financial Corp grew its stake in BorgWarner by 4.0% in the fourth quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company’s stock worth $487,000 after purchasing an additional 595 shares in the last quarter. Norges Bank bought a new position in shares of BorgWarner during the 4th quarter worth $62,180,000. State of Alaska Department of Revenue increased its stake in shares of BorgWarner by 96.3% during the fourth quarter. State of Alaska Department of Revenue now owns 51,935 shares of the auto parts company’s stock valued at $1,650,000 after buying an additional 25,475 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of BorgWarner in the fourth quarter valued at about $1,197,000. Finally, Wellington Management Group LLP lifted its stake in BorgWarner by 1.4% in the third quarter. Wellington Management Group LLP now owns 27,629 shares of the auto parts company’s stock worth $1,003,000 after acquiring an additional 394 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Insider Activity at BorgWarner

In related news, EVP Tania Wingfield sold 24,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total transaction of $690,960.00. Following the sale, the executive vice president now directly owns 39,110 shares in the company, valued at approximately $1,125,976.90. This represents a 38.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Tonit M. Calaway sold 13,500 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $30.16, for a total transaction of $407,160.00. Following the completion of the sale, the chief accounting officer now owns 259,310 shares in the company, valued at $7,820,789.60. The trade was a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,800 shares of company stock worth $1,347,701. Corporate insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BWA. TD Cowen downgraded BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Friday, March 7th. Guggenheim set a $38.00 target price on BorgWarner in a research note on Wednesday, March 5th. StockNews.com lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a research report on Saturday. Robert W. Baird cut their price objective on shares of BorgWarner from $34.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Morgan Stanley decreased their target price on shares of BorgWarner from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, BorgWarner presently has a consensus rating of “Moderate Buy” and an average target price of $37.50.

BorgWarner Price Performance

NYSE:BWA opened at $26.10 on Wednesday. BorgWarner Inc. has a 52 week low of $24.40 and a 52 week high of $38.23. The company has a market capitalization of $5.73 billion, a P/E ratio of 18.25, a P/E/G ratio of 0.77 and a beta of 1.12. The stock’s fifty day moving average is $28.58 and its two-hundred day moving average is $31.75. 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 released its quarterly earnings results on Thursday, February 6th. The auto parts company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.93 by $0.08. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. Equities analysts expect that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.11 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.44 annualized dividend and a dividend yield of 1.69%. BorgWarner’s dividend payout ratio is presently 30.77%.

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.