Resona Asset Management Co. Ltd. Takes Position in BorgWarner Inc. (NYSE:BWA)

Resona Asset Management Co. Ltd. bought a new position in shares of BorgWarner Inc. (NYSE:BWA) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,404 shares of the auto parts company’s stock, valued at approximately $45,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of BorgWarner during the 4th quarter valued at about $62,180,000. Swedbank AB raised its position in BorgWarner by 91.7% during the fourth quarter. Swedbank AB now owns 1,618,550 shares of the auto parts company’s stock valued at $51,454,000 after acquiring an additional 774,438 shares in the last quarter. American Century Companies Inc. raised its position in BorgWarner by 20.5% during the fourth quarter. American Century Companies Inc. now owns 3,656,194 shares of the auto parts company’s stock valued at $116,230,000 after acquiring an additional 621,243 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in BorgWarner by 3,195.4% in 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 during the period. Finally, Alliancebernstein L.P. boosted its position in BorgWarner by 6.8% in the 4th quarter. Alliancebernstein L.P. now owns 5,981,196 shares of the auto parts company’s stock worth $190,142,000 after purchasing an additional 381,504 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BWA shares. Cowen cut shares of BorgWarner from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Evercore ISI lowered their target price on shares of BorgWarner from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. BNP Paribas upgraded BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 price target for the company in a research note on Tuesday, March 18th. TD Cowen downgraded BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. cut their price objective on BorgWarner from $51.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, BorgWarner currently has a consensus rating of “Moderate Buy” and an average price target of $38.56.

BorgWarner Price Performance

BorgWarner stock opened at $26.22 on Friday. The company has a fifty day simple moving average of $28.75 and a 200-day simple moving average of $31.89. 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 firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 0.77 and a beta of 1.12. BorgWarner Inc. has a 52-week low of $24.40 and a 52-week high of $38.23.

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

BorgWarner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 1.68%. BorgWarner’s payout ratio is 30.77%.

Insiders Place Their Bets

In related news, CAO Tonit M. Calaway sold 8,300 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.07, for a total transaction of $249,581.00. Following the completion of the sale, the chief accounting officer now directly owns 242,257 shares in the company, valued at approximately $7,284,667.99. This trade represents a 3.31 % decrease in their ownership of the stock. 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 dated Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total transaction of $690,960.00. Following the completion of the transaction, the executive vice president now owns 39,110 shares in the company, valued at $1,125,976.90. The trade was a 38.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,800 shares of company stock valued at $1,347,701. 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.