Fifth Third Bancorp Has $8.07 Million Stock Position in BorgWarner Inc. (NYSE:BWA)

Posted by Defense World Staff on Jul 9th, 2023

BorgWarner logo Fifth Third Bancorp increased its holdings in shares of BorgWarner Inc. (NYSE:BWA – Free Report) by 187.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 164,404 shares of the auto parts company’s stock after purchasing an additional 107,151 shares during the period. Fifth Third Bancorp owned approximately 0.07% of BorgWarner worth $8,074,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in BorgWarner by 2.2% in the first quarter. Vanguard Group Inc. now owns 26,131,243 shares of the auto parts company’s stock valued at $1,016,505,000 after acquiring an additional 570,039 shares during the period. State Street Corp grew its stake in BorgWarner by 0.5% in the third quarter. State Street Corp now owns 9,815,492 shares of the auto parts company’s stock valued at $308,206,000 after acquiring an additional 50,791 shares during the period. Dimensional Fund Advisors LP grew its stake in BorgWarner by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,023,878 shares of the auto parts company’s stock valued at $282,712,000 after acquiring an additional 174,934 shares during the period. Geode Capital Management LLC grew its stake in BorgWarner by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,931,582 shares of the auto parts company’s stock valued at $198,141,000 after acquiring an additional 54,766 shares during the period. Finally, Bank of America Corp DE grew its stake in BorgWarner by 5.2% in the fourth quarter. Bank of America Corp DE now owns 4,907,323 shares of the auto parts company’s stock valued at $197,520,000 after acquiring an additional 240,723 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BWA shares. Morgan Stanley upgraded BorgWarner from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $49.00 to $50.00 in a report on Monday, May 15th. Wells Fargo & Company dropped their target price on BorgWarner from $56.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, April 10th. StockNews.com started coverage on BorgWarner in a report on Sunday, July 2nd. They issued a “buy” rating on the stock. Robert W. Baird raised their target price on BorgWarner from $48.00 to $50.00 in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on BorgWarner from $58.00 to $56.00 in a report on Friday, May 5th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.73.

Insider Buying and Selling at BorgWarner

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

BorgWarner Stock Performance

Shares of BorgWarner stock opened at $44.95 on Friday. The business’s fifty day simple moving average is $46.24 and its 200 day simple moving average is $46.46. The firm has a market capitalization of $10.53 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 0.64 and a beta of 1.42. BorgWarner Inc. has a 12 month low of $31.14 and a 12 month high of $51.14. 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 – Free Report) last issued its earnings results on Thursday, May 4th. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.16 billion. BorgWarner had a net margin of 5.97% and a return on equity of 14.85%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 earnings per share. As a group, analysts anticipate that BorgWarner Inc. will post 4.99 EPS for the current year.

BorgWarner Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a $0.17 dividend. The ex-dividend date was Wednesday, May 31st. This represents a $0.68 annualized dividend and a dividend yield of 1.51%. BorgWarner’s payout ratio is presently 16.63%.

BorgWarner Profile

(Free Report)

BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. The company operates through four segments: Air Management, E-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging.