Comerica Bank Raises Holdings in BorgWarner Inc. (NYSE:BWA)

Comerica Bank increased its position in BorgWarner Inc. (NYSE:BWA) by 23.6% in the 4th quarter, Holdings Channel reports. The firm owned 94,198 shares of the auto parts company’s stock after buying an additional 18,011 shares during the period. Comerica Bank’s holdings in BorgWarner were worth $2,995,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. purchased a new stake in BorgWarner in the fourth quarter valued at approximately $45,000. Avior Wealth Management LLC raised 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 valued at $46,000 after purchasing an additional 342 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in BorgWarner during the 4th quarter worth $48,000. Quarry LP grew its position in BorgWarner by 110.6% during the 4th quarter. Quarry LP now owns 1,826 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 959 shares during the last quarter. Finally, Generali Asset Management SPA SGR acquired a new position in BorgWarner in the fourth quarter valued at $59,000. 95.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BorgWarner

In other news, CAO Tonit M. Calaway sold 13,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 259,310 shares of the company’s stock, valued at $7,820,789.60. This trade represents a 4.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $690,960.00. Following the completion of the sale, the executive vice president now directly owns 39,110 shares in the company, valued at approximately $1,125,976.90. The trade was a 38.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 45,800 shares of company stock worth $1,347,701. 0.45% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BWA has been the subject of several recent research reports. Evercore ISI decreased their target price on shares of BorgWarner from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. UBS Group reaffirmed a “neutral” rating and set a $31.00 price objective (down from $38.00) on shares of BorgWarner in a research report on Thursday, April 10th. BNP Paribas raised BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 target price on the stock in a report on Tuesday, March 18th. Barclays decreased their price target on BorgWarner from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Finally, Robert W. Baird dropped their price objective on shares of BorgWarner from $34.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, BorgWarner has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

BorgWarner Price Performance

BWA stock opened at $30.32 on Thursday. The firm has a 50 day moving average of $28.02 and a 200-day moving average of $30.98. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 0.77 and a beta of 1.08. The company has a current ratio of 1.79, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. BorgWarner Inc. has a 12-month low of $24.40 and a 12-month high of $38.23.

BorgWarner (NYSE:BWA) last posted its earnings results on Wednesday, May 7th. The auto parts company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.13. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.39 billion. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. BorgWarner’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. As a group, equities analysts expect that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.45%. BorgWarner’s payout ratio is 30.77%.

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.