AGF Management Ltd. Reduces Position in BorgWarner Inc. (NYSE:BWA)

AGF Management Ltd. lessened its position in shares of BorgWarner Inc. (NYSE:BWA) by 19.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,022 shares of the auto parts company’s stock after selling 18,418 shares during the quarter. AGF Management Ltd.’s holdings in BorgWarner were worth $2,353,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BWA. Inspire Advisors LLC grew its stake in shares of BorgWarner by 44.5% in the 4th quarter. Inspire Advisors LLC now owns 15,434 shares of the auto parts company’s stock valued at $491,000 after purchasing an additional 4,751 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of BorgWarner by 11.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 11,745 shares of the auto parts company’s stock valued at $373,000 after purchasing an additional 1,239 shares during the last quarter. Moran Wealth Management LLC grew its stake in shares of BorgWarner by 5.5% in the 4th quarter. Moran Wealth Management LLC now owns 17,869 shares of the auto parts company’s stock valued at $568,000 after purchasing an additional 932 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of BorgWarner by 4.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,900 shares of the auto parts company’s stock valued at $1,809,000 after purchasing an additional 2,389 shares during the last quarter. Finally, Personal CFO Solutions LLC grew its stake in shares of BorgWarner by 137.9% in the 4th quarter. Personal CFO Solutions LLC now owns 31,159 shares of the auto parts company’s stock valued at $991,000 after purchasing an additional 18,059 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Insider Activity

In other news, CAO Tonit M. Calaway sold 8,300 shares of BorgWarner stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.07, for a total value of $249,581.00. Following the completion of the sale, the chief accounting officer now owns 242,257 shares of the company’s stock, valued at $7,284,667.99. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tania Wingfield sold 24,000 shares of BorgWarner 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 sale, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders sold a total of 45,800 shares of company stock valued at $1,347,701 over the last quarter. Company insiders own 0.63% of the company’s stock.

BorgWarner Stock Performance

NYSE BWA opened at $28.72 on Friday. BorgWarner Inc. has a fifty-two week low of $27.65 and a fifty-two week high of $38.23. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 0.77 and a beta of 1.21. The business has a fifty day moving average of $30.70 and a 200-day moving average of $32.76. The company has a quick ratio of 1.45, a current ratio of 1.79 and a debt-to-equity ratio of 0.66.

BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share 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%. As a group, analysts predict that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Monday, March 3rd. BorgWarner’s dividend payout ratio is currently 30.77%.

Analyst Upgrades and Downgrades

BWA has been the topic of several analyst reports. Guggenheim set a $38.00 target price on BorgWarner in a research note on Wednesday, March 5th. Barclays reduced their price target on BorgWarner from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Cowen cut BorgWarner from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. TD Cowen cut BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Friday, March 7th. Finally, Evercore ISI reduced their price target on BorgWarner from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, BorgWarner currently has a consensus rating of “Moderate Buy” and an average target price of $39.73.

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.