Ballast Asset Management LP Sells 3,184 Shares of BorgWarner Inc. (NYSE:BWA)

Ballast Asset Management LP trimmed its position in shares of BorgWarner Inc. (NYSE:BWA) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,427 shares of the auto parts company’s stock after selling 3,184 shares during the quarter. Ballast Asset Management LP’s holdings in BorgWarner were worth $2,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BWA. True Wealth Design LLC bought a new stake in BorgWarner in the 3rd quarter worth about $38,000. Avior Wealth Management LLC boosted its stake in shares of BorgWarner by 31.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company’s stock worth $46,000 after buying an additional 342 shares during the last quarter. Generali Asset Management SPA SGR bought a new position in shares of BorgWarner in the fourth quarter valued at approximately $59,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of BorgWarner during the third quarter valued at approximately $62,000. Finally, Principal Securities Inc. lifted its holdings in BorgWarner by 59.1% during the fourth quarter. Principal Securities Inc. now owns 1,939 shares of the auto parts company’s stock worth $62,000 after acquiring an additional 720 shares during the period. Institutional investors own 95.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BWA shares. Guggenheim set a $38.00 target price on BorgWarner in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price objective on shares of BorgWarner from $51.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Evercore ISI lowered their price objective on shares of BorgWarner from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. TD Cowen downgraded shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research report on Friday, March 7th. Finally, Barclays lowered their price target on shares of BorgWarner from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $39.06.

BorgWarner Trading Up 1.6 %

Shares of BorgWarner stock opened at $28.64 on Tuesday. The company’s 50-day moving average price is $30.01 and its 200-day moving average price is $32.41. 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 $27.65 and a 12-month high of $38.23. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 0.77 and a beta of 1.21.

BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share (EPS) for the quarter, topping 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 expect that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Monday, March 3rd. BorgWarner’s dividend payout ratio is currently 30.77%.

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 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 sale, the chief accounting officer now owns 259,310 shares in the company, valued at approximately $7,820,789.60. This trade represents a 4.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $690,960.00. Following 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 sold a total of 45,800 shares of company stock worth $1,347,701 over the last three months. 0.45% of the stock is owned by insiders.

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.