Prudential PLC Acquires 64,867 Shares of BorgWarner Inc. (NYSE:BWA)

Prudential PLC increased its stake in BorgWarner Inc. (NYSE:BWA) by 374.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,200 shares of the auto parts company’s stock after purchasing an additional 64,867 shares during the period. Prudential PLC’s holdings in BorgWarner were worth $2,613,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BWA. Geode Capital Management LLC raised its position in BorgWarner by 3.5% during the third quarter. Geode Capital Management LLC now owns 6,384,366 shares of the auto parts company’s stock valued at $231,376,000 after purchasing an additional 217,050 shares in the last quarter. Alliancebernstein L.P. lifted 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 buying an additional 381,504 shares during the last quarter. American Century Companies Inc. boosted its stake in BorgWarner by 20.5% in the fourth quarter. American Century Companies Inc. now owns 3,656,194 shares of the auto parts company’s stock worth $116,230,000 after buying an additional 621,243 shares in the last quarter. Sei Investments Co. grew its position in BorgWarner by 12.9% during the fourth quarter. Sei Investments Co. now owns 2,471,252 shares of the auto parts company’s stock valued at $78,561,000 after acquiring an additional 282,659 shares during the last quarter. Finally, Ninety One UK Ltd raised its stake in shares of BorgWarner by 22.5% during the fourth quarter. Ninety One UK Ltd now owns 1,963,721 shares of the auto parts company’s stock worth $62,427,000 after acquiring an additional 361,112 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Tonit M. Calaway sold 13,500 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $30.16, for a total value of $407,160.00. Following the transaction, the chief accounting officer now owns 259,310 shares in the company, valued at $7,820,789.60. The trade was a 4.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Tania Wingfield sold 24,000 shares of BorgWarner stock in a transaction dated Wednesday, March 5th. The stock was 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 directly owns 39,110 shares of the company’s stock, valued at $1,125,976.90. This trade represents a 38.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,800 shares of company stock worth $1,347,701 in the last 90 days. Insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. BNP Paribas raised shares of BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 target price on the stock in a report on Tuesday, March 18th. StockNews.com raised BorgWarner from a “hold” rating to a “buy” rating in a research note on Friday. The Goldman Sachs Group lowered their target price on BorgWarner from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. reduced their price target on BorgWarner from $51.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Finally, Piper Sandler lowered their price objective on BorgWarner from $43.00 to $36.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, BorgWarner has an average rating of “Moderate Buy” and a consensus target price of $39.06.

BorgWarner Trading Down 4.7 %

NYSE BWA opened at $25.92 on Monday. The firm has a market capitalization of $5.69 billion, a PE ratio of 18.13, a P/E/G ratio of 0.77 and a beta of 1.12. The stock’s 50 day moving average is $29.63 and its 200 day moving average is $32.27. BorgWarner Inc. has a twelve month low of $24.60 and a twelve month high of $38.23. The company has a quick ratio of 1.45, a current ratio of 1.79 and a debt-to-equity ratio of 0.66.

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

BorgWarner Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.11 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.70%. BorgWarner’s dividend payout ratio is currently 30.77%.

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.