Principal Financial Group Inc. Sells 25,873 Shares of BorgWarner Inc. (NYSE:BWA)

Principal Financial Group Inc. lowered its position in BorgWarner Inc. (NYSE:BWA – Get Rating) by 8.0% during the 4th quarter, HoldingsChannel reports. The fund owned 297,508 shares of the auto parts company’s stock after selling 25,873 shares during the period. Principal Financial Group Inc.’s holdings in BorgWarner were worth $11,975,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BWA. Prudential Financial Inc. raised its stake in shares of BorgWarner by 300.2% in the third quarter. Prudential Financial Inc. now owns 1,316,105 shares of the auto parts company’s stock valued at $41,327,000 after acquiring an additional 987,274 shares during the period. Edmp Inc. raised its stake in shares of BorgWarner by 4,896.5% in the fourth quarter. Edmp Inc. now owns 852,455 shares of the auto parts company’s stock valued at $21,179,000 after acquiring an additional 835,394 shares during the period. Invesco Ltd. raised its stake in shares of BorgWarner by 24.7% in the first quarter. Invesco Ltd. now owns 3,637,381 shares of the auto parts company’s stock valued at $141,495,000 after acquiring an additional 720,690 shares during the period. Vanguard Group Inc. raised its stake in shares of BorgWarner by 2.2% in the first quarter. Vanguard Group Inc. now owns 26,131,243 shares of the auto parts company’s stock valued at $1,016,505,000 after acquiring an additional 570,039 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of BorgWarner in the fourth quarter valued at $22,321,000. Hedge funds and other institutional investors own 91.44% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays reduced their target price on shares of BorgWarner from $62.00 to $58.00 in a research note on Monday, May 8th. Robert W. Baird raised their price target on shares of BorgWarner from $50.00 to $56.00 and gave the stock an “outperform” rating in a research note on Friday, February 10th. Morgan Stanley raised shares of BorgWarner from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $49.00 to $50.00 in a research note on Monday, May 15th. Wells Fargo & Company reduced their price target on shares of BorgWarner from $56.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, April 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of BorgWarner from $58.00 to $56.00 in a research note on Friday, May 5th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BorgWarner currently has a consensus rating of “Moderate Buy” and an average target price of $52.73.

BorgWarner Trading Up 1.4 %

NYSE BWA opened at $46.86 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.16 and a current ratio of 1.59. The company has a market capitalization of $10.98 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 0.66 and a beta of 1.41. The company’s 50-day simple moving average is $46.84 and its two-hundred day simple moving average is $45.25. BorgWarner Inc. has a one year low of $31.14 and a one year high of $51.14.

BorgWarner (NYSE:BWA – Get Rating) last posted its earnings results on Thursday, May 4th. The auto parts company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). BorgWarner had a net margin of 5.97% and a return on equity of 14.85%. The business had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same period last year, the business posted $1.05 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts forecast that BorgWarner Inc. will post 5 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Wednesday, May 31st. BorgWarner’s dividend payout ratio is currently 16.63%.

Insider Activity

In other news, CAO Tonit M. Calaway sold 6,889 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $50.87, for a total value of $350,443.43. Following the sale, the chief accounting officer now directly owns 28,105 shares in the company, valued at approximately $1,429,701.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Tania Wingfield sold 16,000 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $50.30, for a total value of $804,800.00. Following the sale, the executive vice president now directly owns 15,592 shares in the company, valued at approximately $784,277.60. 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 6,889 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $50.87, for a total transaction of $350,443.43. Following the completion of the sale, the chief accounting officer now owns 28,105 shares in the company, valued at $1,429,701.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,062 shares of company stock worth $1,627,233. Corporate insiders own 0.45% of the company’s stock.

BorgWarner Profile

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BorgWarner, Inc engages in the provision of technology solutions for combustion, hybrid and electric vehicles. It operates through the following segments: Air Management, e-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment develops and manufactures products to improve fuel economy, reduce emissions and enhance performance.