Nuveen Asset Management LLC Sells 1,350,517 Shares of BorgWarner Inc. (NYSE:BWA)

Nuveen Asset Management LLC decreased its position in shares of BorgWarner Inc. (NYSE:BWA) by 45.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,604,941 shares of the auto parts company’s stock after selling 1,350,517 shares during the period. Nuveen Asset Management LLC owned approximately 0.73% of BorgWarner worth $51,021,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of BorgWarner by 55.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 175,888 shares of the auto parts company’s stock worth $5,591,000 after purchasing an additional 63,033 shares during the period. Lazard Asset Management LLC increased its position in shares of BorgWarner by 14.0% in the fourth quarter. Lazard Asset Management LLC now owns 46,990 shares of the auto parts company’s stock worth $1,492,000 after purchasing an additional 5,787 shares during the period. LRI Investments LLC increased its position in shares of BorgWarner by 1,515.0% in the fourth quarter. LRI Investments LLC now owns 969 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 909 shares during the period. Janus Henderson Group PLC increased its position in shares of BorgWarner by 0.4% in the fourth quarter. Janus Henderson Group PLC now owns 112,559 shares of the auto parts company’s stock worth $3,580,000 after purchasing an additional 501 shares during the period. Finally, Kettle Hill Capital Management LLC bought a new position in shares of BorgWarner in the fourth quarter worth $6,080,000. Institutional investors own 95.67% of the company’s stock.

Insider Transactions at BorgWarner

In related news, EVP Tania Wingfield sold 24,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total value of $690,960.00. Following the sale, the executive vice president now directly owns 39,110 shares in the company, valued at $1,125,976.90. This represents a 38.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Tonit M. Calaway sold 8,300 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $30.07, for a total value of $249,581.00. Following the completion of the sale, the chief accounting officer now owns 242,257 shares in the company, valued at $7,284,667.99. The trade was a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,036 shares of company stock worth $1,851,114. Insiders own 0.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. The Goldman Sachs Group upgraded BorgWarner from a “neutral” rating to a “buy” rating and raised their price target for the stock from $31.00 to $34.00 in a research report on Thursday, April 10th. BNP Paribas upgraded BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 price target on the stock in a research report on Tuesday, March 18th. Robert W. Baird raised their price target on BorgWarner from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Piper Sandler decreased their target price on BorgWarner from $43.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Finally, Cowen cut BorgWarner from a “buy” rating to a “hold” rating in a research report on Thursday, March 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

BorgWarner Stock Performance

NYSE:BWA opened at $33.06 on Tuesday. The stock has a market cap of $7.26 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 0.77 and a beta of 1.08. The company has a current ratio of 1.79, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. The stock’s 50-day moving average is $28.57 and its 200-day moving average is $30.87. BorgWarner Inc. has a 1-year low of $24.40 and a 1-year high of $37.29.

BorgWarner (NYSE:BWA) last released its quarterly earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.13. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.39 billion. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 earnings per share. Equities research analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.33%. BorgWarner’s dividend payout ratio (DPR) is currently 35.20%.

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.