Ballast Asset Management LP Cuts Stake in BorgWarner Inc. (NYSE:BWA)

Ballast Asset Management LP lessened its holdings in BorgWarner Inc. (NYSE:BWA) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Avior Wealth Management LLC lifted 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 valued at $46,000 after acquiring an additional 342 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in BorgWarner by 0.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 54,432 shares of the auto parts company’s stock worth $1,730,000 after purchasing an additional 381 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in BorgWarner by 0.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,168 shares of the auto parts company’s stock valued at $2,421,000 after purchasing an additional 393 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of BorgWarner by 1.4% in the third quarter. Wellington Management Group LLP now owns 27,629 shares of the auto parts company’s stock worth $1,003,000 after purchasing an additional 394 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of BorgWarner by 0.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 48,349 shares of the auto parts company’s stock worth $1,537,000 after purchasing an additional 450 shares during the last quarter. 95.67% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

Several equities research analysts have weighed in on BWA shares. Cowen cut shares of BorgWarner from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Barclays cut their target price on BorgWarner from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley reduced their price target on BorgWarner from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. TD Cowen lowered BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research report on Friday, March 7th. Finally, StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.06.

BorgWarner Stock Performance

Shares of BWA opened at $28.64 on Tuesday. 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 stock has a market cap of $6.29 billion, a P/E ratio of 20.03, a P/E/G ratio of 0.77 and a beta of 1.21. The business’s 50 day moving average price is $30.01 and its 200-day moving average price is $32.41. BorgWarner Inc. has a 52 week low of $27.65 and a 52 week high of $38.23.

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

BorgWarner Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.11 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.44 annualized dividend and a yield of 1.54%. BorgWarner’s dividend payout ratio (DPR) is presently 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.