AIA Group Ltd Acquires New Stake in BorgWarner Inc. (NYSE:BWA)

AIA Group Ltd bought a new position in BorgWarner Inc. (NYSE:BWA) in the fourth quarter, Holdings Channel reports. The firm bought 50,300 shares of the auto parts company’s stock, valued at approximately $1,599,000.

Other large investors have also bought and sold shares of the company. True Wealth Design LLC bought a new position in shares of BorgWarner during the 3rd quarter worth $38,000. Avior Wealth Management LLC lifted its holdings in BorgWarner by 31.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company’s stock valued at $46,000 after purchasing an additional 342 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in BorgWarner during the third quarter worth about $62,000. Generali Asset Management SPA SGR purchased a new position in shares of BorgWarner in the fourth quarter worth about $59,000. Finally, Principal Securities Inc. raised its position in shares of BorgWarner by 59.1% in the fourth quarter. Principal Securities Inc. now owns 1,939 shares of the auto parts company’s stock valued at $62,000 after purchasing an additional 720 shares during the period. 95.67% of the stock is owned by hedge funds and other institutional investors.

BorgWarner Stock Performance

NYSE BWA opened at $28.64 on Tuesday. BorgWarner Inc. has a 52-week low of $27.65 and a 52-week high of $38.23. The company has a fifty day moving average of $30.01 and a 200-day moving average of $32.41. The company has a market capitalization 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 company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.79.

BorgWarner (NYSE:BWA) last issued its quarterly 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 return on equity of 15.93% and a net margin of 2.40%. As a group, equities research analysts predict that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Monday, March 3rd. BorgWarner’s dividend payout ratio (DPR) is presently 30.77%.

Insider Transactions at BorgWarner

In other BorgWarner news, CAO Tonit M. Calaway sold 8,300 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.07, for a total transaction of $249,581.00. Following the completion of the sale, the chief accounting officer now directly owns 242,257 shares in the company, valued at $7,284,667.99. This represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 value of $690,960.00. Following the completion of the transaction, the executive vice president now owns 39,110 shares in the company, valued at approximately $1,125,976.90. This represents a 38.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,800 shares of company stock worth $1,347,701. 0.45% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Evercore ISI cut their price objective on shares of BorgWarner from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, February 10th. JPMorgan Chase & Co. cut their price target on BorgWarner from $51.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Piper Sandler decreased their price objective on BorgWarner from $43.00 to $36.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. The Goldman Sachs Group reduced their target price on BorgWarner from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. 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 analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, BorgWarner currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.06.

BorgWarner Company 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.