Envestnet Portfolio Solutions Inc. Buys 7,722 Shares of BorgWarner Inc. (NYSE:BWA)

Envestnet Portfolio Solutions Inc. raised its position in shares of BorgWarner Inc. (NYSE:BWA) by 79.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,487 shares of the auto parts company’s stock after acquiring an additional 7,722 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in BorgWarner were worth $556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Natixis Advisors LLC grew its position in shares of BorgWarner by 10.8% in the 4th quarter. Natixis Advisors LLC now owns 836,303 shares of the auto parts company’s stock worth $26,586,000 after buying an additional 81,308 shares during the period. Picton Mahoney Asset Management grew its holdings in BorgWarner by 811.6% in the fourth quarter. Picton Mahoney Asset Management now owns 5,716 shares of the auto parts company’s stock worth $183,000 after purchasing an additional 5,089 shares during the period. Intact Investment Management Inc. purchased a new stake in BorgWarner in the fourth quarter worth about $5,077,000. LBP AM SA lifted its holdings in shares of BorgWarner by 221.6% during the fourth quarter. LBP AM SA now owns 315,920 shares of the auto parts company’s stock valued at $10,043,000 after purchasing an additional 217,694 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of BorgWarner by 33,770.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 51,483 shares of the auto parts company’s stock worth $1,629,000 after purchasing an additional 51,331 shares in the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BWA. Barclays lowered their price objective on BorgWarner from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. BNP Paribas raised BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 price target for the company in a research report on Tuesday, March 18th. Piper Sandler cut their price objective on shares of BorgWarner from $43.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. JPMorgan Chase & Co. decreased their target price on shares of BorgWarner from $51.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Finally, Morgan Stanley reduced their price target on shares of BorgWarner from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $39.06.

Insider Buying and Selling

In related news, EVP Tania Wingfield sold 24,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total value of $690,960.00. Following the completion of the transaction, the executive vice president now owns 39,110 shares of the company’s stock, valued at approximately $1,125,976.90. This represents a 38.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Tonit M. Calaway sold 8,300 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.07, for a total value of $249,581.00. Following the sale, the chief accounting officer now directly owns 242,257 shares in the company, valued at approximately $7,284,667.99. This represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,800 shares of company stock valued at $1,347,701. 0.45% of the stock is owned by corporate insiders.

BorgWarner Stock Up 0.4 %

Shares of BWA stock opened at $29.56 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. BorgWarner Inc. has a 12 month low of $27.65 and a 12 month high of $38.23. The stock has a market cap of $6.49 billion, a P/E ratio of 20.67, a P/E/G ratio of 0.77 and a beta of 1.21. The company has a 50 day simple moving average of $30.27 and a two-hundred day simple moving average of $32.49.

BorgWarner (NYSE:BWA) last announced its earnings results on Thursday, February 6th. The auto parts company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. On average, research analysts expect that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.49%. The ex-dividend date was Monday, March 3rd. BorgWarner’s dividend payout ratio is 30.77%.

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.