Truist Financial Corp Has $514,000 Stock Holdings in BorgWarner Inc. (NYSE:BWA)

Truist Financial Corp trimmed its position in shares of BorgWarner Inc. (NYSE:BWA) by 10.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,955 shares of the auto parts company’s stock after selling 1,892 shares during the quarter. Truist Financial Corp’s holdings in BorgWarner were worth $514,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Trillium Asset Management LLC boosted its stake in shares of BorgWarner by 2.1% during the first quarter. Trillium Asset Management LLC now owns 13,788 shares of the auto parts company’s stock valued at $479,000 after purchasing an additional 283 shares in the last quarter. Empirical Finance LLC boosted its stake in shares of BorgWarner by 3.5% during the first quarter. Empirical Finance LLC now owns 8,456 shares of the auto parts company’s stock valued at $294,000 after purchasing an additional 285 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of BorgWarner by 1.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,200 shares of the auto parts company’s stock valued at $667,000 after purchasing an additional 335 shares in the last quarter. First Pacific Financial boosted its stake in shares of BorgWarner by 3.6% during the second quarter. First Pacific Financial now owns 9,763 shares of the auto parts company’s stock valued at $315,000 after purchasing an additional 340 shares in the last quarter. Finally, Inspire Investing LLC boosted its stake in shares of BorgWarner by 2.9% during the first quarter. Inspire Investing LLC now owns 12,747 shares of the auto parts company’s stock valued at $443,000 after purchasing an additional 359 shares in the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

BorgWarner Trading Up 0.2 %

NYSE BWA opened at $35.04 on Thursday. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 0.81 and a beta of 1.20. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $39.97. The business has a 50 day moving average price of $33.67 and a 200-day moving average price of $33.90. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 0.52.

BorgWarner (NYSE:BWA) last released its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.01 by $0.18. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.69 billion. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.35 earnings per share. As a group, equities analysts expect that BorgWarner Inc. will post 4.1 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.11 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.44 annualized dividend and a dividend yield of 1.26%. BorgWarner’s payout ratio is 16.67%.

Insider Activity at BorgWarner

In related news, CAO Tonit M. Calaway sold 10,868 shares of BorgWarner stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $31.74, for a total transaction of $344,950.32. Following the transaction, the chief accounting officer now owns 206,083 shares of the company’s stock, valued at $6,541,074.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Tonit M. Calaway sold 10,868 shares of BorgWarner stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $31.74, for a total transaction of $344,950.32. Following the transaction, the chief accounting officer now owns 206,083 shares of the company’s stock, valued at $6,541,074.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tania Wingfield sold 2,066 shares of BorgWarner stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.00, for a total value of $66,112.00. Following the transaction, the executive vice president now directly owns 46,016 shares in the company, valued at approximately $1,472,512. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.45% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup cut their price target on BorgWarner from $41.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Robert W. Baird raised their price objective on BorgWarner from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Bank of America lowered their price objective on BorgWarner from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Evercore ISI upgraded BorgWarner from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $39.00 to $43.00 in a research report on Monday. Finally, Wolfe Research began coverage on BorgWarner in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.31.

BorgWarner Company Profile

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.