BorgWarner Inc. (NYSE:BWA) Shares Sold by ExodusPoint Capital Management LP

Posted by Defense World Staff on Sep 4th, 2023

BorgWarner logo ExodusPoint Capital Management LP decreased its position in BorgWarner Inc. (NYSE:BWA – Free Report) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,186 shares of the auto parts company’s stock after selling 729 shares during the quarter. ExodusPoint Capital Management LP’s holdings in BorgWarner were worth $1,335,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in BWA. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of BorgWarner by 1.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,520 shares of the auto parts company’s stock worth $1,008,000 after purchasing an additional 222 shares during the last quarter. Xponance Inc. boosted its position in shares of BorgWarner by 0.6% during the 1st quarter. Xponance Inc. now owns 36,258 shares of the auto parts company’s stock worth $1,781,000 after acquiring an additional 230 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of BorgWarner by 1.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 12,476 shares of the auto parts company’s stock valued at $613,000 after acquiring an additional 230 shares during the last quarter. Bessemer Group Inc. raised its position in shares of BorgWarner by 1.4% during the 4th quarter. Bessemer Group Inc. now owns 18,375 shares of the auto parts company’s stock worth $739,000 after acquiring an additional 250 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in BorgWarner by 1.2% during the first quarter. Vanguard Personalized Indexing Management LLC now owns 21,254 shares of the auto parts company’s stock worth $1,044,000 after purchasing an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.

BorgWarner Price Performance

Shares of NYSE BWA opened at $41.29 on Monday. The stock has a fifty day moving average price of $43.81 and a 200 day moving average price of $46.14. BorgWarner Inc. has a 1-year low of $31.14 and a 1-year high of $51.14. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.62 and a quick ratio of 1.18. The company has a market cap of $9.71 billion, a PE ratio of 10.20, a P/E/G ratio of 0.90 and a beta of 1.42.

BorgWarner (NYSE:BWA – Get Free Report) last released its earnings results on Wednesday, August 2nd. The auto parts company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.14 by $0.21. The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.39 billion. BorgWarner had a net margin of 5.63% and a return on equity of 15.45%. Sell-side analysts forecast that BorgWarner Inc. will post 3.76 EPS for the current year.

BorgWarner Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, August 31st. BorgWarner’s dividend payout ratio is presently 10.86%.

Insiders Place Their Bets

In related news, 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 value of $238,050.00. Following the sale, the vice president now directly owns 177,614 shares in the company, valued at $8,456,202.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.45% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BWA shares. StockNews.com assumed coverage on shares of BorgWarner in a report on Saturday. They set a “buy” rating on the stock. The Goldman Sachs Group lifted their price target on shares of BorgWarner from $45.00 to $51.00 in a research note on Wednesday, June 7th. Nomura Instinet restated a “neutral” rating and issued a $44.00 price objective on shares of BorgWarner in a research note on Thursday, August 17th. Oppenheimer reiterated an “outperform” rating and set a $48.00 target price on shares of BorgWarner in a research report on Thursday, August 3rd. Finally, Wells Fargo & Company decreased their target price on BorgWarner from $56.00 to $53.00 in a research report on Monday, July 10th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BorgWarner has an average rating of “Moderate Buy” and an average target price of $51.62.

View Our Latest Stock Analysis on BWA

BorgWarner Company Profile

(Free Report)

BorgWarner Inc 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, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging.