Legal & General Group Plc Has $14.46 Million Stock Holdings in BorgWarner Inc. (NYSE:BWA)

Legal & General Group Plc decreased its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 454,798 shares of the auto parts company’s stock after selling 25,592 shares during the quarter. Legal & General Group Plc owned about 0.21% of BorgWarner worth $14,458,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in shares of BorgWarner by 10.2% during the fourth quarter. Invesco Ltd. now owns 6,795,020 shares of the auto parts company’s stock valued at $216,014,000 after buying an additional 628,930 shares during the last quarter. Aristides Capital LLC bought a new stake in shares of BorgWarner in the 4th quarter worth approximately $297,000. Federated Hermes Inc. grew its holdings in shares of BorgWarner by 7.8% during the 4th quarter. Federated Hermes Inc. now owns 129,738 shares of the auto parts company’s stock worth $4,124,000 after purchasing an additional 9,369 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of BorgWarner during the fourth quarter valued at approximately $543,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of BorgWarner by 40.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 275,049 shares of the auto parts company’s stock valued at $8,744,000 after purchasing an additional 79,022 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. TD Cowen lowered shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Friday, March 7th. Evercore ISI dropped their price target on shares of BorgWarner from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. UBS Group reaffirmed a “neutral” rating and set a $31.00 price objective (down from $38.00) on shares of BorgWarner in a report on Thursday, April 10th. Robert W. Baird cut their target price on BorgWarner from $34.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Piper Sandler lowered their price target on BorgWarner from $43.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.50.

BorgWarner Stock Performance

Shares of NYSE:BWA opened at $26.10 on Wednesday. The stock has a market capitalization of $5.73 billion, a P/E ratio of 18.25, a P/E/G ratio of 0.77 and a beta of 1.12. The company has a current ratio of 1.79, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. BorgWarner Inc. has a 1-year low of $24.40 and a 1-year high of $38.23. The business has a 50-day moving average price of $28.58 and a two-hundred day moving average price of $31.75.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, February 6th. The auto parts company reported $1.01 earnings per share (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%. Equities analysts predict that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.11 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.44 annualized dividend and a dividend yield of 1.69%. BorgWarner’s payout ratio is currently 30.77%.

Insider Activity

In other BorgWarner news, 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 transaction, the executive vice president now directly owns 39,110 shares in the company, valued at approximately $1,125,976.90. The trade was a 38.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Tonit M. Calaway sold 8,300 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.07, for a total value of $249,581.00. Following the sale, the chief accounting officer now directly owns 242,257 shares in the company, valued at approximately $7,284,667.99. This represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,800 shares of company stock valued at $1,347,701 in the last ninety days. 0.63% of the stock is owned by insiders.

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.