CI Investments Inc. Has $137,000 Position in BorgWarner Inc. (NYSE:BWA)

Posted by Defense World Staff on May 25th, 2023

BorgWarner logo CI Investments Inc. lowered its stake in BorgWarner Inc. (NYSE:BWA – Get Rating) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,396 shares of the auto parts company’s stock after selling 489 shares during the period. CI Investments Inc.’s holdings in BorgWarner were worth $137,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BWA. Prudential Financial Inc. grew its holdings in BorgWarner by 300.2% during the 3rd quarter. Prudential Financial Inc. now owns 1,316,105 shares of the auto parts company’s stock worth $41,327,000 after acquiring an additional 987,274 shares during the period. Edmp Inc. grew its holdings in BorgWarner by 4,896.5% during the 4th quarter. Edmp Inc. now owns 852,455 shares of the auto parts company’s stock worth $21,179,000 after acquiring an additional 835,394 shares during the period. Invesco Ltd. grew its holdings in BorgWarner by 24.7% during the 1st quarter. Invesco Ltd. now owns 3,637,381 shares of the auto parts company’s stock worth $141,495,000 after acquiring an additional 720,690 shares during the period. Vanguard Group Inc. grew its holdings in BorgWarner by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 26,131,243 shares of the auto parts company’s stock worth $1,016,505,000 after acquiring an additional 570,039 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in BorgWarner during the 4th quarter worth $22,321,000. Institutional investors and hedge funds own 91.44% of the company’s stock.

Insider Activity

In other news, EVP Tania Wingfield sold 16,000 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $50.30, for a total value of $804,800.00. Following the sale, the executive vice president now directly owns 15,592 shares of the company’s stock, valued at approximately $784,277.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Tonit M. Calaway sold 6,889 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $50.87, for a total value of $350,443.43. Following the transaction, the chief accounting officer now owns 28,105 shares in the company, valued at approximately $1,429,701.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Tania Wingfield sold 16,000 shares of the stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $50.30, for a total transaction of $804,800.00. Following the transaction, the executive vice president now owns 15,592 shares in the company, valued at approximately $784,277.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,062 shares of company stock valued at $1,627,233. 0.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on BWA shares. Barclays lowered their target price on shares of BorgWarner from $62.00 to $58.00 in a report on Monday, May 8th. Oppenheimer boosted their price target on shares of BorgWarner from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, February 10th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of BorgWarner from $58.00 to $56.00 in a report on Friday, May 5th. StockNews.com raised shares of BorgWarner from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 13th. Finally, The Goldman Sachs Group boosted their price target on shares of BorgWarner from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, February 10th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.73.

BorgWarner Trading Down 1.1 %

BWA opened at $46.20 on Thursday. The stock has a market capitalization of $10.83 billion, a P/E ratio of 11.30, a P/E/G ratio of 0.68 and a beta of 1.41. BorgWarner Inc. has a 12 month low of $31.14 and a 12 month high of $51.14. The firm’s fifty day simple moving average is $46.84 and its 200 day simple moving average is $45.24. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 0.54.

BorgWarner (NYSE:BWA – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The auto parts company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). BorgWarner had a return on equity of 14.85% and a net margin of 5.97%. The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period last year, the firm earned $1.05 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, research analysts anticipate that BorgWarner Inc. will post 5 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a $0.17 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.47%. BorgWarner’s payout ratio is 16.63%.

BorgWarner Profile

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BorgWarner, Inc engages in the provision of technology solutions for combustion, hybrid and electric vehicles. It operates through the following segments: Air Management, e-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment develops and manufactures products to improve fuel economy, reduce emissions and enhance performance.