RNC Capital Management LLC Sells 7,610 Shares of BorgWarner Inc. (NYSE:BWA)

RNC Capital Management LLC trimmed its position in BorgWarner Inc. (NYSE:BWA) by 13.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,040 shares of the auto parts company’s stock after selling 7,610 shares during the quarter. RNC Capital Management LLC’s holdings in BorgWarner were worth $1,758,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BWA. Norges Bank purchased a new position in BorgWarner in the fourth quarter worth about $92,430,000. Nuveen Asset Management LLC grew its position in BorgWarner by 351.3% in the second quarter. Nuveen Asset Management LLC now owns 2,679,073 shares of the auto parts company’s stock worth $131,033,000 after acquiring an additional 2,085,433 shares in the last quarter. Boston Partners grew its position in BorgWarner by 58.9% in the third quarter. Boston Partners now owns 5,267,500 shares of the auto parts company’s stock worth $211,762,000 after acquiring an additional 1,951,783 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in BorgWarner in the second quarter worth about $75,483,000. Finally, Invesco Ltd. grew its position in BorgWarner by 30.4% in the third quarter. Invesco Ltd. now owns 4,399,084 shares of the auto parts company’s stock worth $177,591,000 after acquiring an additional 1,024,361 shares in the last quarter. 95.67% of the stock is owned by institutional investors.

BorgWarner Stock Performance

Shares of NYSE:BWA opened at $34.70 on Thursday. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 0.94 and a beta of 1.29. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $50.04. The company has a quick ratio of 1.30, a current ratio of 1.65 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $32.32 and a 200 day moving average of $34.88.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, February 8th. The auto parts company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.03). The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.62 billion. BorgWarner had a return on equity of 14.69% and a net margin of 3.94%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $1.26 EPS. On average, sell-side analysts predict that BorgWarner Inc. will post 3.91 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, February 29th. BorgWarner’s payout ratio is presently 16.48%.

Insider Transactions at BorgWarner

In other news, CAO Tonit M. Calaway sold 35,603 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $32.15, for a total transaction of $1,144,636.45. Following the transaction, the chief accounting officer now directly owns 83,348 shares of the company’s stock, valued at $2,679,638.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Tonit M. Calaway sold 35,603 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $32.15, for a total transaction of $1,144,636.45. Following the transaction, the chief accounting officer now directly owns 83,348 shares of the company’s stock, valued at $2,679,638.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Volker Weng sold 20,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $32.85, for a total value of $657,000.00. Following the transaction, the vice president now directly owns 111,964 shares in the company, valued at $3,678,017.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 287,503 shares of company stock valued at $9,015,478. Corporate insiders own 0.45% of the company’s stock.

Wall Street Analyst Weigh In

BWA has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on BorgWarner from $59.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. Robert W. Baird lowered BorgWarner from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $45.00 to $39.00 in a research report on Wednesday, January 3rd. Wells Fargo & Company dropped their target price on BorgWarner from $47.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. StockNews.com lowered BorgWarner from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, The Goldman Sachs Group dropped their target price on BorgWarner from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $44.05.

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.