Jacobs Levy Equity Management Inc. Lowers Stock Holdings in BorgWarner Inc. (NYSE:BWA)

Jacobs Levy Equity Management Inc. lowered its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 62.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 165,803 shares of the auto parts company’s stock after selling 271,255 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.08% of BorgWarner worth $5,271,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Truist Financial Corp raised its holdings 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 during the last quarter. Norges Bank acquired a new position in shares of BorgWarner during the fourth quarter valued at approximately $62,180,000. State of Alaska Department of Revenue raised its holdings 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 acquiring an additional 25,475 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of BorgWarner during the fourth quarter valued at approximately $1,197,000. Finally, AIA Group Ltd acquired a new position in shares of BorgWarner during the fourth quarter valued at approximately $1,599,000. Institutional investors and hedge funds own 95.67% of the company’s stock.

Insider Activity

In other news, EVP Tania Wingfield sold 24,000 shares of BorgWarner stock in a transaction on Wednesday, March 5th. The stock was 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 of the company’s stock, valued at approximately $1,125,976.90. The trade was a 38.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Tonit M. Calaway sold 8,300 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.07, for a total value of $249,581.00. Following the transaction, the chief accounting officer now directly owns 242,257 shares of the company’s stock, valued at $7,284,667.99. The trade was a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,036 shares of company stock valued at $1,851,114. 0.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BWA has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on BorgWarner from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Piper Sandler reduced their target price on BorgWarner from $43.00 to $36.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Cowen cut BorgWarner from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Wells Fargo & Company increased their price target on BorgWarner from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Evercore ISI cut their price target on BorgWarner from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, BorgWarner currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.47.

BorgWarner Price Performance

NYSE:BWA opened at $32.96 on Thursday. BorgWarner Inc. has a 52 week low of $24.40 and a 52 week high of $37.97. The company has a quick ratio of 1.45, a current ratio of 1.79 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $7.24 billion, a P/E ratio of 23.05, a P/E/G ratio of 0.77 and a beta of 1.08. The stock’s fifty day moving average is $28.34 and its two-hundred day moving average is $30.93.

BorgWarner (NYSE:BWA) last issued 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. 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 analysts’ expectations of $3.39 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. Equities analysts expect that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 payout ratio is presently 35.20%.

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.