Cullen Capital Management LLC Lowers Stock Position in BorgWarner Inc. (NYSE:BWA)

Cullen Capital Management LLC cut its stake in shares of BorgWarner Inc. (NYSE:BWAFree Report) by 6.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 77,070 shares of the auto parts company’s stock after selling 5,540 shares during the period. Cullen Capital Management LLC’s holdings in BorgWarner were worth $2,763,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in BWA. Parkside Investments LLC lifted its holdings in shares of BorgWarner by 28.7% during the 4th quarter. Parkside Investments LLC now owns 196,889 shares of the auto parts company’s stock valued at $7,058,000 after acquiring an additional 43,955 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of BorgWarner by 9.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 699,974 shares of the auto parts company’s stock valued at $25,094,000 after acquiring an additional 59,925 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in shares of BorgWarner during the 3rd quarter valued at $833,000. Illinois Municipal Retirement Fund lifted its holdings in shares of BorgWarner by 84.3% during the 4th quarter. Illinois Municipal Retirement Fund now owns 260,556 shares of the auto parts company’s stock valued at $9,341,000 after acquiring an additional 119,170 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of BorgWarner by 24.8% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 180,942 shares of the auto parts company’s stock valued at $7,305,000 after acquiring an additional 35,986 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on BWA shares. Piper Sandler started coverage on shares of BorgWarner in a report on Friday, March 15th. They set an “overweight” rating and a $43.00 target price on the stock. Robert W. Baird boosted their price objective on shares of BorgWarner from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. StockNews.com upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a report on Monday, May 6th. Oppenheimer boosted their price objective on shares of BorgWarner from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Citigroup boosted their price objective on shares of BorgWarner from $33.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.76.

View Our Latest Stock Report on BWA

Insiders Place Their Bets

In other BorgWarner news, VP Stefan Demmerle sold 3,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $33.00, for a total value of $99,000.00. Following the completion of the transaction, the vice president now owns 249,013 shares in the company, valued at approximately $8,217,429. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.63% of the stock is owned by insiders.

BorgWarner Price Performance

Shares of NYSE:BWA opened at $34.32 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.55. BorgWarner Inc. has a fifty-two week low of $29.51 and a fifty-two week high of $50.04. The firm has a 50-day simple moving average of $35.06 and a 200 day simple moving average of $33.90. The company has a market cap of $7.82 billion, a PE ratio of 13.00, a P/E/G ratio of 0.83 and a beta of 1.28.

BorgWarner (NYSE:BWAGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.16. BorgWarner had a net margin of 4.02% and a return on equity of 15.33%. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that BorgWarner Inc. will post 4.07 EPS for the current year.

BorgWarner Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.28%. The ex-dividend date is Monday, June 3rd. BorgWarner’s dividend payout ratio (DPR) is 16.67%.

BorgWarner announced that its Board of Directors has authorized a share repurchase program on Thursday, May 2nd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the auto parts company to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

About BorgWarner

(Free Report)

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.

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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