Truist Financial Corp Cuts Stock Holdings in BorgWarner Inc. (NYSE:BWA)

Truist Financial Corp lowered its stake in shares of BorgWarner Inc. (NYSE:BWAGet Rating) by 3.4% during the third quarter, Holdings Channel reports. The fund owned 31,722 shares of the auto parts company’s stock after selling 1,112 shares during the period. Truist Financial Corp’s holdings in BorgWarner were worth $996,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. abrdn plc increased its position in shares of BorgWarner by 2.7% during the second quarter. abrdn plc now owns 81,537 shares of the auto parts company’s stock worth $2,760,000 after acquiring an additional 2,112 shares during the period. Fifth Third Bancorp increased its holdings in BorgWarner by 94.2% in the third quarter. Fifth Third Bancorp now owns 53,564 shares of the auto parts company’s stock valued at $1,682,000 after buying an additional 25,989 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in BorgWarner by 42.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 275,799 shares of the auto parts company’s stock valued at $9,204,000 after buying an additional 81,710 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in BorgWarner by 15.7% during the 2nd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 8,185 shares of the auto parts company’s stock worth $273,000 after buying an additional 1,108 shares during the last quarter. Finally, Infini Capital Management Ltd acquired a new position in shares of BorgWarner during the 2nd quarter worth about $216,000. Hedge funds and other institutional investors own 91.44% of the company’s stock.

BorgWarner Stock Up 1.6 %

BorgWarner stock opened at $44.40 on Friday. BorgWarner Inc. has a twelve month low of $31.14 and a twelve month high of $45.70. The stock has a 50 day moving average of $41.80 and a two-hundred day moving average of $38.27. The company has a current ratio of 1.72, a quick ratio of 1.28 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $10.40 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.50 and a beta of 1.43.

BorgWarner (NYSE:BWAGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The auto parts company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.22. BorgWarner had a return on equity of 14.51% and a net margin of 5.33%. The company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period last year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, research analysts expect that BorgWarner Inc. will post 4.37 earnings per share for the current year.

BorgWarner Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.53%. BorgWarner’s payout ratio is 19.71%.

Analyst Upgrades and Downgrades

BWA has been the topic of a number of recent analyst reports. Morgan Stanley upgraded BorgWarner from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $35.00 to $45.00 in a report on Monday, November 28th. Deutsche Bank Aktiengesellschaft increased their price objective on BorgWarner from $45.00 to $53.00 in a report on Thursday. Citigroup increased their price objective on BorgWarner from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, January 13th. Wells Fargo & Company increased their price objective on BorgWarner from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, December 7th. Finally, BNP Paribas upgraded BorgWarner from a “neutral” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Wednesday, December 7th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, BorgWarner currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Insider Activity

In other news, CAO Tonit M. Calaway sold 6,305 shares of the firm’s stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $40.46, for a total value of $255,100.30. Following the completion of the sale, the chief accounting officer now directly owns 40,380 shares of the company’s stock, valued at approximately $1,633,774.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.54% of the company’s stock.

BorgWarner Company Profile

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BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. The company operates through four segments: Air Management, E-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging.

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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