Freestone Grove Partners LP Acquires Shares of 11,306 BorgWarner Inc. (NYSE:BWA)

Freestone Grove Partners LP bought a new position in shares of BorgWarner Inc. (NYSE:BWA) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 11,306 shares of the auto parts company’s stock, valued at approximately $359,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. purchased a new position in BorgWarner in the fourth quarter valued at about $45,000. Avior Wealth Management LLC lifted its stake in BorgWarner by 31.3% in the fourth 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 purchased a new position in BorgWarner in the fourth quarter valued at approximately $48,000. Wilmington Savings Fund Society FSB purchased a new stake in BorgWarner in the third quarter worth $62,000. Finally, Quarry LP lifted its position in shares of BorgWarner by 110.6% during the 4th quarter. Quarry LP now owns 1,826 shares of the auto parts company’s stock valued at $58,000 after buying an additional 959 shares during the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

BorgWarner Price Performance

Shares of NYSE:BWA opened at $29.30 on Monday. BorgWarner Inc. has a one year low of $24.40 and a one year high of $38.23. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 0.77 and a beta of 1.12. The company’s fifty day moving average price is $28.03 and its 200-day moving average price is $31.04.

BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. On average, equities research analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The company 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 annualized dividend and a yield of 1.50%. BorgWarner’s dividend payout ratio is currently 30.77%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BWA shares. Morgan Stanley lowered their price objective on BorgWarner from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. TD Cowen cut shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research note on Friday, March 7th. Robert W. Baird reduced their price objective on shares of BorgWarner from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. BNP Paribas raised shares of 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. Finally, JPMorgan Chase & Co. cut their price target on BorgWarner from $51.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Insider Buying and Selling at BorgWarner

In related news, CAO Tonit M. Calaway sold 13,500 shares of the 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 transaction, the chief accounting officer now owns 259,310 shares of the company’s stock, valued at approximately $7,820,789.60. This trade represents a 4.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tania Wingfield sold 24,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total transaction of $690,960.00. Following the completion of the sale, the executive vice president now directly owns 39,110 shares of the company’s stock, valued at $1,125,976.90. This represents a 38.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,800 shares of company stock worth $1,347,701 over the last ninety days. Insiders own 0.45% 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.