Assenagon Asset Management S.A. Acquires Shares of 67,378 BorgWarner Inc. (NYSE:BWA)

Assenagon Asset Management S.A. bought a new position in shares of BorgWarner Inc. (NYSE:BWA) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 67,378 shares of the auto parts company’s stock, valued at approximately $2,142,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BWA. Geode Capital Management LLC raised its position in BorgWarner by 3.5% during the third quarter. Geode Capital Management LLC now owns 6,384,366 shares of the auto parts company’s stock worth $231,376,000 after acquiring an additional 217,050 shares during the period. Pacer Advisors Inc. increased its stake in shares of BorgWarner by 21,752.6% during the third quarter. Pacer Advisors Inc. now owns 4,646,950 shares of the auto parts company’s stock worth $168,638,000 after purchasing an additional 4,625,685 shares in the last quarter. Earnest Partners LLC increased its stake in shares of BorgWarner by 20.2% during the second quarter. Earnest Partners LLC now owns 3,979,776 shares of the auto parts company’s stock worth $128,308,000 after purchasing an additional 669,137 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of BorgWarner by 19.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,764,103 shares of the auto parts company’s stock worth $100,309,000 after purchasing an additional 445,540 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in BorgWarner by 361.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,450,696 shares of the auto parts company’s stock valued at $79,010,000 after buying an additional 1,919,219 shares in the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Insider Activity at BorgWarner

In other news, CEO Frederic Lissalde sold 154,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $34.61, for a total value of $5,329,940.00. Following the completion of the transaction, the chief executive officer now owns 259,957 shares of the company’s stock, valued at approximately $8,997,111.77. This trade represents a 37.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Stefan Demmerle sold 20,544 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $34.28, for a total transaction of $704,248.32. Following the sale, the vice president now directly owns 206,969 shares in the company, valued at approximately $7,094,897.32. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 222,010 shares of company stock worth $7,678,076. Insiders own 0.63% of the company’s stock.

BorgWarner Price Performance

BWA stock opened at $31.81 on Thursday. BorgWarner Inc. has a 52-week low of $29.51 and a 52-week high of $38.22. The business has a fifty day moving average of $32.99 and a two-hundred day moving average of $33.38. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 0.64 and a beta of 1.20. The company has a quick ratio of 1.48, a current ratio of 1.84 and a debt-to-equity ratio of 0.66.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. The firm had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.50 billion. BorgWarner had a return on equity of 15.51% and a net margin of 6.33%. The company’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. As a group, research analysts anticipate that BorgWarner Inc. will post 4.22 earnings per share for the current year.

BorgWarner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.38%. BorgWarner’s payout ratio is currently 11.17%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wells Fargo & Company cut their price objective on BorgWarner from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. reduced their price objective on BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BorgWarner from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Guggenheim reiterated a “buy” rating and issued a $41.00 target price on shares of BorgWarner in a research report on Thursday, December 12th. Finally, Barclays decreased their price target on shares of BorgWarner from $47.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.47.

About BorgWarner

BorgWarner Inc, together with its subsidiaries, 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, cabin heaters, battery modules and systems, battery heaters, and battery charging.