BorgWarner Inc. (NYSE:BWA) Shares Sold by Kovack Advisors Inc.

Posted by Defense World Staff on Jun 17th, 2023

BorgWarner logo Kovack Advisors Inc. reduced its stake in BorgWarner Inc. (NYSE:BWA – Get Rating) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,076 shares of the auto parts company’s stock after selling 297 shares during the period. Kovack Advisors Inc.’s holdings in BorgWarner were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. AE Wealth Management LLC grew its stake in BorgWarner by 0.3% in the 4th quarter. AE Wealth Management LLC now owns 87,995 shares of the auto parts company’s stock valued at $3,542,000 after buying an additional 223 shares during the last quarter. Bessemer Group Inc. grew its stake in BorgWarner by 1.4% in the 4th quarter. Bessemer Group Inc. now owns 18,375 shares of the auto parts company’s stock valued at $739,000 after buying an additional 250 shares during the last quarter. AlphaCrest Capital Management LLC grew its stake in BorgWarner by 0.5% in the 3rd quarter. AlphaCrest Capital Management LLC now owns 56,404 shares of the auto parts company’s stock valued at $1,771,000 after buying an additional 265 shares during the last quarter. New York Life Investment Management LLC grew its stake in BorgWarner by 0.9% in the 4th quarter. New York Life Investment Management LLC now owns 35,114 shares of the auto parts company’s stock valued at $1,413,000 after buying an additional 297 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its stake in BorgWarner by 3.7% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 8,487 shares of the auto parts company’s stock valued at $266,000 after buying an additional 302 shares during the last quarter. 91.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BorgWarner

In other news, Director Alexis P. Michas sold 7,173 shares of BorgWarner stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $44.45, for a total transaction of $318,839.85. Following the completion of the sale, the director now owns 76,441 shares in the company, valued at approximately $3,397,802.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Alexis P. Michas sold 7,173 shares of BorgWarner stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $44.45, for a total transaction of $318,839.85. Following the completion of the sale, the director now owns 76,441 shares in the company, valued at approximately $3,397,802.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Stefan Demmerle sold 5,000 shares of BorgWarner stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $47.61, for a total transaction of $238,050.00. Following the sale, the vice president now owns 177,614 shares of the company’s stock, valued at approximately $8,456,202.54. The disclosure for this sale can be found here. Insiders sold a total of 12,383 shares of company stock worth $566,697 in the last quarter. 0.45% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on BWA. Barclays lowered their target price on shares of BorgWarner from $62.00 to $58.00 in a research note on Monday, May 8th. Morgan Stanley raised shares of BorgWarner from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $49.00 to $50.00 in a report on Monday, May 15th. StockNews.com downgraded shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of BorgWarner from $58.00 to $56.00 in a report on Friday, May 5th. Finally, The Goldman Sachs Group increased their price target on shares of BorgWarner from $45.00 to $51.00 in a report on Wednesday, June 7th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, BorgWarner has an average rating of “Moderate Buy” and a consensus target price of $52.73.

BorgWarner Trading Up 0.7 %

BWA opened at $48.60 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $11.39 billion, a PE ratio of 11.88, a PEG ratio of 0.68 and a beta of 1.42. BorgWarner Inc. has a 1-year low of $31.14 and a 1-year high of $51.14. The firm has a 50-day moving average price of $46.70 and a two-hundred day moving average price of $45.85.

BorgWarner (NYSE:BWA – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The auto parts company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.16 billion. BorgWarner had a net margin of 5.97% and a return on equity of 14.85%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 EPS. As a group, equities analysts anticipate that BorgWarner Inc. will post 4.96 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Wednesday, May 31st. BorgWarner’s dividend payout ratio is 16.63%.

About BorgWarner

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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.