Bank of New York Mellon Corp Has $53.66 Million Stake in BorgWarner Inc. (NYSE:BWA)

Bank of New York Mellon Corp reduced its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,687,895 shares of the auto parts company’s stock after selling 171,535 shares during the period. Bank of New York Mellon Corp owned 0.77% of BorgWarner worth $53,658,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Private Advisor Group LLC lifted its position in shares of BorgWarner by 8.4% during the 3rd quarter. Private Advisor Group LLC now owns 7,050 shares of the auto parts company’s stock valued at $256,000 after acquiring an additional 549 shares during the period. State of Alaska Department of Revenue boosted its position in shares of BorgWarner by 6.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 26,460 shares of the auto parts company’s stock worth $960,000 after purchasing an additional 1,525 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of BorgWarner by 19.4% in the 3rd quarter. New York State Common Retirement Fund now owns 492,041 shares of the auto parts company’s stock valued at $17,856,000 after buying an additional 80,106 shares during the period. Janney Montgomery Scott LLC raised its stake in BorgWarner by 50.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 54,051 shares of the auto parts company’s stock worth $1,962,000 after buying an additional 18,175 shares during the period. Finally, Van ECK Associates Corp grew its stake in BorgWarner by 8.6% in the third quarter. Van ECK Associates Corp now owns 74,932 shares of the auto parts company’s stock valued at $2,557,000 after acquiring an additional 5,953 shares during the period. 95.67% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Tonit M. Calaway sold 13,500 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $30.16, for a total value of $407,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 259,310 shares of the company’s stock, valued at $7,820,789.60. This trade represents a 4.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.45% of the company’s stock.

BorgWarner Price Performance

BorgWarner stock opened at $29.24 on Thursday. The business’s 50 day simple moving average is $31.09 and its 200 day simple moving average is $32.95. BorgWarner Inc. has a 12 month low of $27.90 and a 12 month high of $38.22. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 0.77 and a beta of 1.18. 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 (NYSE:BWA) last issued its quarterly earnings results on Thursday, February 6th. The auto parts company reported $1.01 EPS for the quarter, beating 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%. Sell-side analysts forecast that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.11 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.44 annualized dividend and a dividend yield of 1.50%. BorgWarner’s payout ratio is 30.77%.

Analysts Set New Price Targets

A number of brokerages have commented on BWA. Evercore ISI decreased their price target on shares of BorgWarner from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Morgan Stanley reduced their price objective on shares of BorgWarner from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Monday. The Goldman Sachs Group lowered their target price on shares of BorgWarner from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. JPMorgan Chase & Co. lowered their price target on BorgWarner from $51.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Finally, StockNews.com lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, BorgWarner presently has a consensus rating of “Moderate Buy” and an average price target of $40.53.

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.