BorgWarner Inc. $BWA Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of BorgWarner Inc. (NYSE:BWA) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,037,844 shares of the auto parts company’s stock after selling 45,672 shares during the quarter. Principal Financial Group Inc.’s holdings in BorgWarner were worth $45,624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mutual Advisors LLC acquired a new position in BorgWarner in the 3rd quarter valued at $900,000. Transcend Capital Advisors LLC purchased a new stake in shares of BorgWarner in the third quarter valued at about $371,000. Frank Rimerman Advisors LLC acquired a new position in shares of BorgWarner during the third quarter worth about $260,000. AlphaQuest LLC purchased a new position in BorgWarner during the third quarter worth about $458,000. Finally, Arizona State Retirement System lifted its position in BorgWarner by 1.4% in the third quarter. Arizona State Retirement System now owns 65,017 shares of the auto parts company’s stock valued at $2,858,000 after purchasing an additional 904 shares during the period. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BWA shares. Piper Sandler reiterated a “neutral” rating and set a $51.00 target price (down previously from $52.00) on shares of BorgWarner in a research report on Thursday, January 8th. Zacks Research cut BorgWarner from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings restated a “hold (c)” rating on shares of BorgWarner in a research report on Wednesday, January 21st. Wells Fargo & Company lowered their price target on shares of BorgWarner from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 9th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $49.00 price objective (up previously from $42.00) on shares of BorgWarner in a research note on Monday, December 8th. Eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.31.

BorgWarner Trading Up 4.0%

Shares of BWA stock opened at $50.53 on Thursday. BorgWarner Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $50.75. The stock has a market cap of $10.81 billion, a P/E ratio of 80.21, a P/E/G ratio of 0.98 and a beta of 1.09. The business has a fifty day simple moving average of $46.06 and a 200-day simple moving average of $43.56. The company has a quick ratio of 1.69, a current ratio of 2.05 and a debt-to-equity ratio of 0.63.

BorgWarner Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, December 1st. BorgWarner’s dividend payout ratio (DPR) is 107.94%.

Insider Transactions at BorgWarner

In other BorgWarner news, VP Stefan Demmerle sold 15,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $45.52, for a total value of $682,800.00. Following the sale, the vice president owned 209,040 shares of the company’s stock, valued at $9,515,500.80. This represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.45% of the company’s stock.

BorgWarner Company Profile

BorgWarner Inc is a global automotive supplier specializing in propulsion and drivetrain solutions for combustion, hybrid and electric vehicles. The company’s product portfolio includes turbochargers, thermal management systems, transmission components, e-Propulsion modules and advanced fuel-efficiency technologies. BorgWarner serves original equipment manufacturers (OEMs) across passenger cars, light trucks and commercial vehicles, supporting both legacy internal-combustion engines and emerging electrification trends.

Founded in 1928 through the merger of several driveline companies, BorgWarner has grown through strategic acquisitions and continuous investment in research and development.