KLP Kapitalforvaltning AS Makes New $2.15 Million Investment in BorgWarner Inc. (NYSE:BWA)

KLP Kapitalforvaltning AS acquired a new stake in BorgWarner Inc. (NYSE:BWA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 67,700 shares of the auto parts company’s stock, valued at approximately $2,152,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Truist Financial Corp boosted its holdings in BorgWarner by 4.0% during the fourth quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company’s stock worth $487,000 after buying an additional 595 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of BorgWarner by 96.3% in the fourth quarter. State of Alaska Department of Revenue now owns 51,935 shares of the auto parts company’s stock worth $1,650,000 after acquiring an additional 25,475 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of BorgWarner during the 4th quarter worth about $1,197,000. Wellington Management Group LLP grew its position in shares of BorgWarner by 1.4% during the 3rd quarter. Wellington Management Group LLP now owns 27,629 shares of the auto parts company’s stock valued at $1,003,000 after acquiring an additional 394 shares during the period. Finally, Intact Investment Management Inc. purchased a new position in shares of BorgWarner in the 4th quarter valued at about $5,077,000. Institutional investors and hedge funds own 95.67% of the company’s stock.

Insider Activity

In other news, EVP Tania Wingfield sold 24,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total transaction of $690,960.00. Following the completion of the transaction, the executive vice president now directly owns 39,110 shares in the company, valued at approximately $1,125,976.90. This represents a 38.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Tonit M. Calaway sold 13,500 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $30.16, for a total transaction of $407,160.00. Following the completion of the sale, the chief accounting officer now owns 259,310 shares in the company, valued at approximately $7,820,789.60. This trade represents a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,800 shares of company stock valued at $1,347,701. 0.45% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BWA. The Goldman Sachs Group dropped their price objective on BorgWarner from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. StockNews.com raised shares of BorgWarner from a “hold” rating to a “buy” rating in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on shares of BorgWarner from $51.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. BNP Paribas upgraded shares of BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 target price on the stock in a research report on Tuesday, March 18th. Finally, TD Cowen cut shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research note on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.06.

BorgWarner Stock Performance

Shares of BorgWarner stock opened at $28.81 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.79. The business’s 50 day moving average price is $30.16 and its 200 day moving average price is $32.45. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 0.77 and a beta of 1.21. BorgWarner Inc. has a one year low of $27.65 and a one year high of $38.23.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, February 6th. The auto parts company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.93 by $0.08. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. On average, research analysts predict that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.53%. BorgWarner’s dividend payout ratio is currently 30.77%.

BorgWarner Company 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.