Peapack Gladstone Financial Corp Trims Stock Position in BorgWarner Inc. (NYSE:BWA)

Peapack Gladstone Financial Corp lessened its position in shares of BorgWarner Inc. (NYSE:BWA) by 40.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,453 shares of the auto parts company’s stock after selling 42,883 shares during the period. Peapack Gladstone Financial Corp’s holdings in BorgWarner were worth $2,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truist Financial Corp raised its position in shares of BorgWarner by 4.0% in the fourth quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company’s stock worth $487,000 after buying an additional 595 shares in the last quarter. Norges Bank bought a new position in BorgWarner in the 4th quarter worth about $62,180,000. State of Alaska Department of Revenue boosted its position in shares of BorgWarner by 96.3% during the 4th quarter. State of Alaska Department of Revenue now owns 51,935 shares of the auto parts company’s stock valued at $1,650,000 after acquiring an additional 25,475 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of BorgWarner during the fourth quarter worth about $1,197,000. Finally, Wellington Management Group LLP increased its position 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. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BorgWarner 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Tonit M. Calaway sold 8,300 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.07, for a total transaction of $249,581.00. Following the sale, the chief accounting officer now owns 242,257 shares in the company, valued at approximately $7,284,667.99. This trade represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,800 shares of company stock worth $1,347,701 over the last three months. Company insiders own 0.45% of the company’s stock.

BorgWarner Price Performance

Shares of BWA stock opened at $25.77 on Tuesday. 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 Inc. has a fifty-two week low of $24.59 and a fifty-two week high of $38.23. The firm has a market cap of $5.66 billion, a P/E ratio of 18.02, a P/E/G ratio of 0.77 and a beta of 1.12. The business’s 50 day moving average price is $29.49 and its 200-day moving average price is $32.21.

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

BorgWarner Announces Dividend

The business also recently disclosed 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 1.71%. BorgWarner’s dividend payout ratio (DPR) is presently 30.77%.

Analysts Set New Price Targets

BWA has been the subject of a number of research reports. The Goldman Sachs Group cut their price target on shares of BorgWarner from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Piper Sandler cut their target price on shares of BorgWarner from $43.00 to $36.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Cowen downgraded BorgWarner from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. StockNews.com raised BorgWarner from a “hold” rating to a “buy” rating in a research note on Friday. Finally, 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. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.06.

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.