Elevation Point Wealth Partners LLC Boosts Stock Position in BorgWarner Inc. (NYSE:BWA)

Elevation Point Wealth Partners LLC raised its stake in BorgWarner Inc. (NYSE:BWA) by 56.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 96,526 shares of the auto parts company’s stock after buying an additional 34,946 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in BorgWarner were worth $2,765,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BWA. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of BorgWarner by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 48,349 shares of the auto parts company’s stock valued at $1,537,000 after acquiring an additional 450 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of BorgWarner by 3,195.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 586,388 shares of the auto parts company’s stock valued at $18,366,000 after acquiring an additional 568,594 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of BorgWarner by 6.8% during the fourth quarter. Van ECK Associates Corp now owns 80,058 shares of the auto parts company’s stock valued at $2,545,000 after acquiring an additional 5,126 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of BorgWarner by 19.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 5,211 shares of the auto parts company’s stock valued at $168,000 after acquiring an additional 863 shares in the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of BorgWarner by 3.3% during the fourth quarter. New York State Teachers Retirement System now owns 211,203 shares of the auto parts company’s stock valued at $6,714,000 after acquiring an additional 6,814 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

BorgWarner Stock Down 0.9%

Shares of BWA opened at $33.09 on Friday. BorgWarner Inc. has a 52-week low of $24.40 and a 52-week high of $37.29. The company has a market capitalization of $7.27 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 0.77 and a beta of 1.10. The stock has a fifty day simple moving average of $30.37 and a two-hundred day simple moving average of $30.74. 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 issued its 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. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the company earned $1.03 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities analysts forecast that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 dividend yield of 1.33%. BorgWarner’s dividend payout ratio (DPR) is presently 35.20%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Cowen downgraded shares of BorgWarner from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Barclays dropped their target price on BorgWarner from $42.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. BNP Paribas raised BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Tuesday, March 18th. Morgan Stanley reduced their target price on BorgWarner from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, TD Cowen downgraded BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research note on Friday, March 7th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.73.

Insiders Place Their Bets

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

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.