Flputnam Investment Management Co. Lowers Stake in BorgWarner Inc. (NYSE:BWA)

Flputnam Investment Management Co. reduced its position in BorgWarner Inc. (NYSE:BWA) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,324 shares of the auto parts company’s stock after selling 8,686 shares during the quarter. Flputnam Investment Management Co.’s holdings in BorgWarner were worth $3,274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital Analysts LLC raised its holdings in shares of BorgWarner by 12.7% in the fourth quarter. Capital Analysts LLC now owns 4,512 shares of the auto parts company’s stock valued at $162,000 after acquiring an additional 509 shares in the last quarter. Cullen Investment Group LTD. bought a new stake in shares of BorgWarner in the fourth quarter valued at about $338,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of BorgWarner by 9.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 699,974 shares of the auto parts company’s stock valued at $25,094,000 after acquiring an additional 59,925 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of BorgWarner in the fourth quarter valued at about $509,000. Finally, Sprucegrove Investment Management Ltd. raised its holdings in BorgWarner by 5.5% in the fourth quarter. Sprucegrove Investment Management Ltd. now owns 385,827 shares of the auto parts company’s stock worth $13,832,000 after purchasing an additional 20,200 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

BorgWarner Price Performance

Shares of NYSE BWA opened at $32.43 on Wednesday. The business’s 50 day moving average price is $32.52 and its 200 day moving average price is $34.23. The firm has a market cap of $7.45 billion, a P/E ratio of 12.15, a P/E/G ratio of 0.99 and a beta of 1.31. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $50.04. The company has a quick ratio of 1.30, a current ratio of 1.65 and a debt-to-equity ratio of 0.61.

BorgWarner (NYSE:BWA) last issued its earnings results on Thursday, February 8th. The auto parts company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.03). The firm had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.62 billion. BorgWarner had a net margin of 3.94% and a return on equity of 14.69%. BorgWarner’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 EPS. On average, sell-side analysts expect that BorgWarner Inc. will post 3.9 earnings per share for the current year.

BorgWarner Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.11 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.44 dividend on an annualized basis and a yield of 1.36%. BorgWarner’s dividend payout ratio is currently 16.48%.

Insider Activity at BorgWarner

In related news, CAO Tonit M. Calaway sold 35,603 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $32.15, for a total value of $1,144,636.45. Following the sale, the chief accounting officer now owns 83,348 shares in the company, valued at $2,679,638.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other BorgWarner news, CAO Tonit M. Calaway sold 35,603 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $32.15, for a total value of $1,144,636.45. Following the sale, the chief accounting officer now owns 83,348 shares in the company, valued at approximately $2,679,638.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Stefan Demmerle sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total value of $99,000.00. Following the completion of the sale, the vice president now owns 249,013 shares in the company, valued at approximately $8,217,429. The disclosure for this sale can be found here. Insiders have sold a total of 287,503 shares of company stock worth $9,015,478 over the last quarter. Insiders own 0.63% of the company’s stock.

Analyst Upgrades and Downgrades

BWA has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their target price on shares of BorgWarner from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Wells Fargo & Company reduced their target price on shares of BorgWarner from $47.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, February 9th. TheStreet downgraded shares of BorgWarner from a “b-” rating to a “c+” rating in a report on Thursday, February 8th. Barclays boosted their target price on shares of BorgWarner from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. reduced their target price on shares of BorgWarner from $59.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.30.

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.