Highland Capital Management LLC Purchases Shares of 6,927 BorgWarner Inc. (NYSE:BWA)

Highland Capital Management LLC purchased a new position in BorgWarner Inc. (NYSE:BWA) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 6,927 shares of the auto parts company’s stock, valued at approximately $220,000.

A number of other hedge funds have also recently modified their holdings of the company. Matrix Trust Co purchased a new position in BorgWarner during the 3rd quarter valued at about $25,000. Brooklyn Investment Group bought a new stake in shares of BorgWarner in the 3rd quarter worth approximately $32,000. True Wealth Design LLC purchased a new position in shares of BorgWarner during the third quarter valued at approximately $38,000. Trust Co. of Vermont raised its holdings in shares of BorgWarner by 88.1% during the third quarter. Trust Co. of Vermont now owns 1,377 shares of the auto parts company’s stock valued at $50,000 after acquiring an additional 645 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its stake in BorgWarner by 31.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company’s stock worth $46,000 after acquiring an additional 342 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BWA. Barclays decreased their price objective on shares of BorgWarner from $47.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Evercore ISI upgraded shares of BorgWarner from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $39.00 to $43.00 in a report on Monday, October 14th. Wells Fargo & Company reduced their target price on BorgWarner from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft raised their target price on BorgWarner from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their price objective on BorgWarner from $51.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.40.

BorgWarner Stock Down 2.9 %

NYSE:BWA opened at $31.90 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.48 and a current ratio of 1.84. The firm has a market cap of $6.98 billion, a P/E ratio of 8.10, a P/E/G ratio of 0.67 and a beta of 1.20. BorgWarner Inc. has a fifty-two week low of $29.51 and a fifty-two week high of $38.22. The firm has a 50-day simple moving average of $32.79 and a two-hundred day simple moving average of $33.38.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. The company had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.50 billion. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. Analysts predict that BorgWarner Inc. will post 4.23 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Monday, December 2nd. BorgWarner’s payout ratio is 11.17%.

Insider Transactions at BorgWarner

In other news, VP Isabelle Mckenzie sold 5,700 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $34.62, for a total transaction of $197,334.00. Following the completion of the transaction, the vice president now directly owns 37,640 shares of the company’s stock, valued at $1,303,096.80. The trade was a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stefan Demmerle sold 20,544 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $34.28, for a total transaction of $704,248.32. Following the completion of the sale, the vice president now owns 206,969 shares in the company, valued at $7,094,897.32. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 222,010 shares of company stock worth $7,678,076 over the last quarter. 0.45% of the stock is currently 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.