Keene & Associates Inc. Lowers Stock Position in BorgWarner Inc. (NYSE:BWA)

Keene & Associates Inc. lowered its position in shares of BorgWarner Inc. (NYSE:BWA) by 30.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 67,609 shares of the auto parts company’s stock after selling 30,214 shares during the quarter. BorgWarner accounts for about 1.7% of Keene & Associates Inc.’s holdings, making the stock its 28th biggest holding. Keene & Associates Inc.’s holdings in BorgWarner were worth $2,149,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BWA. Brooklyn Investment Group purchased a new position in BorgWarner during the 3rd quarter valued at about $32,000. True Wealth Design LLC purchased a new stake in BorgWarner in the 3rd quarter worth approximately $38,000. Avior Wealth Management LLC grew its position in shares of BorgWarner by 31.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company’s stock worth $46,000 after buying an additional 342 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of BorgWarner in the 3rd quarter worth approximately $62,000. Finally, Principal Securities Inc. grew its position in shares of BorgWarner by 59.1% in the 4th quarter. Principal Securities Inc. now owns 1,939 shares of the auto parts company’s stock worth $62,000 after buying an additional 720 shares during the last quarter. 95.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BWA shares. Evercore ISI cut their price objective on BorgWarner from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Wells Fargo & Company upped their target price on BorgWarner from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. StockNews.com cut BorgWarner from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. decreased their price objective on BorgWarner from $51.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Finally, Guggenheim reiterated a “buy” rating and issued a $41.00 price target on shares of BorgWarner in a research note on Thursday, December 12th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $40.20.

BorgWarner Price Performance

Shares of BWA opened at $30.25 on Wednesday. The company has a market capitalization of $6.61 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. BorgWarner Inc. has a twelve month low of $28.65 and a twelve month high of $38.22. The company has a quick ratio of 1.45, a current ratio of 1.79 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $31.78 and a 200 day moving average of $33.12.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.08. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. As a group, equities research analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.11 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.44 annualized dividend and a yield of 1.45%. BorgWarner’s payout ratio is 30.77%.

Insider Buying and Selling

In related news, VP Stefan Demmerle sold 20,544 shares of BorgWarner stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $34.28, for a total value of $704,248.32. Following the completion of the sale, the vice president now directly owns 206,969 shares in the company, valued at approximately $7,094,897.32. This trade represents a 9.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Tonit M. Calaway sold 13,500 shares of BorgWarner stock in a transaction dated 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 sale, the chief accounting officer now owns 259,310 shares of the company’s stock, valued at $7,820,789.60. The trade was a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.

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.