Wright Investors Service Inc. Has $607,000 Stock Position in BorgWarner Inc. (NYSE:BWA)

Wright Investors Service Inc. decreased its stake in BorgWarner Inc. (NYSE:BWA) by 6.5% in the fourth quarter, HoldingsChannel reports. The firm owned 16,940 shares of the auto parts company’s stock after selling 1,171 shares during the period. Wright Investors Service Inc.’s holdings in BorgWarner were worth $607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in BorgWarner by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 26,131,243 shares of the auto parts company’s stock worth $1,016,505,000 after acquiring an additional 570,039 shares during the period. State Street Corp boosted its position in BorgWarner by 3.5% during the 2nd quarter. State Street Corp now owns 10,449,304 shares of the auto parts company’s stock worth $511,075,000 after acquiring an additional 357,259 shares during the period. Victory Capital Management Inc. boosted its position in BorgWarner by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 8,719,779 shares of the auto parts company’s stock worth $352,017,000 after acquiring an additional 106,453 shares during the period. Diamond Hill Capital Management Inc. boosted its position in BorgWarner by 3.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 5,463,487 shares of the auto parts company’s stock worth $220,561,000 after acquiring an additional 166,007 shares during the period. Finally, Macquarie Group Ltd. boosted its position in BorgWarner by 10.0% during the 1st quarter. Macquarie Group Ltd. now owns 5,322,946 shares of the auto parts company’s stock worth $261,410,000 after acquiring an additional 484,794 shares during the period. Institutional investors and hedge funds own 95.67% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on BorgWarner from $59.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Barclays raised their price target on BorgWarner from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Robert W. Baird downgraded BorgWarner from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $45.00 to $39.00 in a research note on Wednesday, January 3rd. Piper Sandler assumed coverage on BorgWarner in a research note on Friday, March 15th. They set an “overweight” rating and a $43.00 price target for the company. Finally, TheStreet downgraded BorgWarner from a “b-” rating to a “c+” rating in a research note on Thursday, February 8th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.30.

Insiders Place Their Bets

In other BorgWarner news, VP Stefan Demmerle sold 3,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $31.29, for a total value of $93,870.00. Following the transaction, the vice president now owns 252,013 shares of the company’s stock, valued at $7,885,486.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Stefan Demmerle sold 3,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $31.29, for a total transaction of $93,870.00. Following the completion of the sale, the vice president now owns 252,013 shares in the company, valued at $7,885,486.77. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Volker Weng sold 20,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $32.85, for a total value of $657,000.00. Following the sale, the vice president now owns 111,964 shares of the company’s stock, valued at approximately $3,678,017.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 287,503 shares of company stock valued at $9,015,478. 0.45% of the stock is currently owned by corporate insiders.

BorgWarner Price Performance

Shares of NYSE:BWA opened at $32.11 on Friday. BorgWarner Inc. has a 1-year low of $29.51 and a 1-year high of $50.04. The firm has a market capitalization of $7.38 billion, a PE ratio of 12.03, a PEG ratio of 0.95 and a beta of 1.31. The business’s 50 day moving average is $32.50 and its 200-day moving average is $34.20. The company has a current ratio of 1.65, a quick ratio of 1.30 and a debt-to-equity ratio of 0.61.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, February 8th. The auto parts company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.03). BorgWarner had a return on equity of 14.69% and a net margin of 3.94%. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same period in the previous year, the business posted $1.26 EPS. BorgWarner’s revenue for the quarter was up 6.2% compared to the same quarter last year. Sell-side analysts predict that BorgWarner Inc. will post 3.9 earnings per share for the current year.

BorgWarner Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, February 29th. BorgWarner’s dividend payout ratio is currently 16.48%.

BorgWarner 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.