Castleark Management LLC Sells 10,034 Shares of BorgWarner Inc. (NYSE:BWA)

Castleark Management LLC reduced its position in shares of BorgWarner Inc. (NYSE:BWA) by 8.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 105,310 shares of the auto parts company’s stock after selling 10,034 shares during the quarter. Castleark Management LLC’s holdings in BorgWarner were worth $3,348,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Truist Financial Corp increased its position in shares of BorgWarner by 4.0% during the fourth quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company’s stock valued at $487,000 after acquiring an additional 595 shares in the last quarter. Norges Bank bought a new stake in shares of BorgWarner in the 4th quarter worth $62,180,000. State of Alaska Department of Revenue raised its stake in shares of BorgWarner by 96.3% in the fourth quarter. State of Alaska Department of Revenue now owns 51,935 shares of the auto parts company’s stock worth $1,650,000 after purchasing an additional 25,475 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of BorgWarner during the fourth quarter valued at $1,197,000. Finally, AIA Group Ltd purchased a new stake in shares of BorgWarner during the fourth quarter valued at $1,599,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BWA has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their target price on BorgWarner from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday. UBS Group boosted their price objective on shares of BorgWarner from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Guggenheim dropped their target price on shares of BorgWarner from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley cut 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. Finally, Piper Sandler lowered their price target on BorgWarner from $43.00 to $36.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.67.

BorgWarner Stock Performance

NYSE:BWA opened at $32.71 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.79. The stock has a 50-day simple moving average of $28.77 and a two-hundred day simple moving average of $30.90. The firm has a market capitalization of $7.19 billion, a PE ratio of 22.87, a P/E/G ratio of 0.77 and a beta of 1.08. BorgWarner Inc. has a 52-week low of $24.40 and a 52-week high of $37.29.

BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.13. The firm 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 business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. Analysts forecast 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. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.35%. BorgWarner’s dividend payout ratio is currently 35.20%.

Insiders Place Their Bets

In other news, VP Isabelle Mckenzie sold 5,000 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 63,445 shares in the company, valued at $2,109,546.25. This trade represents a 7.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tonit M. Calaway sold 27,736 shares of BorgWarner stock in a transaction on Monday, May 12th. The shares were sold at an average price of $32.83, for a total transaction of $910,572.88. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 65,036 shares of company stock worth $2,017,364 over the last three months. 0.63% of the stock is currently owned by company insiders.

About BorgWarner

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.