Malaga Cove Capital LLC Sells 738 Shares of BorgWarner Inc. (NYSE:BWA)

Malaga Cove Capital LLC cut its position in shares of BorgWarner Inc. (NYSE:BWA) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,999 shares of the auto parts company’s stock after selling 738 shares during the quarter. Malaga Cove Capital LLC’s holdings in BorgWarner were worth $636,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of BorgWarner in the 4th quarter worth approximately $62,180,000. Bank of America Corp DE raised its stake in shares of BorgWarner by 91.9% in the fourth quarter. Bank of America Corp DE now owns 3,878,932 shares of the auto parts company’s stock valued at $123,311,000 after purchasing an additional 1,857,907 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in BorgWarner by 8,137.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,299,057 shares of the auto parts company’s stock worth $41,297,000 after purchasing an additional 1,283,287 shares during the period. LSV Asset Management lifted its position in BorgWarner by 22.5% in the fourth quarter. LSV Asset Management now owns 4,308,145 shares of the auto parts company’s stock worth $136,956,000 after purchasing an additional 792,100 shares during the period. Finally, Swedbank AB boosted its stake in BorgWarner by 91.7% during the fourth quarter. Swedbank AB now owns 1,618,550 shares of the auto parts company’s stock worth $51,454,000 after buying an additional 774,438 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

BorgWarner Price Performance

BorgWarner stock opened at $33.15 on Wednesday. The business’s fifty day moving average is $28.28 and its two-hundred day moving average is $30.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.79. The firm has a market cap of $7.28 billion, a P/E ratio of 23.18, a P/E/G ratio of 0.77 and a beta of 1.08. BorgWarner Inc. has a 52 week low of $24.40 and a 52 week high of $38.23.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.13. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. Equities research analysts forecast that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.33%. BorgWarner’s payout ratio is 35.20%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BWA. Evercore ISI dropped their price objective 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. Barclays lowered their target price on shares of BorgWarner from $42.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. StockNews.com upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. The Goldman Sachs Group upgraded BorgWarner from a “neutral” rating to a “buy” rating and upped their price objective for the company from $31.00 to $34.00 in a research note on Thursday, April 10th. Finally, BNP Paribas raised BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 target price for the company in a report on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.47.

Insider Activity

In other news, EVP Tania Wingfield sold 24,000 shares of BorgWarner stock in a transaction on Wednesday, March 5th. The stock was 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 trade represents a 38.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Tonit M. Calaway sold 8,300 shares of the business’s 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 sale, the chief accounting officer now owns 242,257 shares of the company’s stock, valued at approximately $7,284,667.99. The trade was a 3.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,036 shares of company stock valued at $1,851,114 over the last three months. 0.45% of the stock is owned by insiders.

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.