Independent Advisor Alliance Buys 12,538 Shares of BorgWarner Inc. (NYSE:BWA)

Independent Advisor Alliance boosted its stake in shares of BorgWarner Inc. (NYSE:BWA) by 170.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,878 shares of the auto parts company’s stock after acquiring an additional 12,538 shares during the quarter. Independent Advisor Alliance’s holdings in BorgWarner were worth $721,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BWA. Quadrature Capital Ltd bought a new stake in BorgWarner during the 1st quarter worth about $285,000. B. Riley Wealth Advisors Inc. acquired a new position in BorgWarner during the 1st quarter valued at about $208,000. Tidal Investments LLC lifted its position in BorgWarner by 21.2% during the 1st quarter. Tidal Investments LLC now owns 35,912 shares of the auto parts company’s stock valued at $1,248,000 after purchasing an additional 6,278 shares during the period. Comerica Bank lifted its position in BorgWarner by 25.0% during the 1st quarter. Comerica Bank now owns 87,911 shares of the auto parts company’s stock valued at $3,054,000 after purchasing an additional 17,596 shares during the period. Finally, Wahed Invest LLC lifted its position in BorgWarner by 14.3% during the 1st quarter. Wahed Invest LLC now owns 4,548 shares of the auto parts company’s stock valued at $158,000 after purchasing an additional 568 shares during the period. Institutional investors own 95.67% of the company’s stock.

Insider Transactions at BorgWarner

In related news, VP Isabelle Mckenzie sold 5,700 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.62, for a total value of $197,334.00. Following the completion of the transaction, the vice president now directly owns 37,640 shares of the company’s stock, valued at approximately $1,303,096.80. This trade represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul Arthur Farrell sold 20,266 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.47, for a total transaction of $698,569.02. Following the completion of the transaction, the executive vice president now directly owns 32,366 shares of the company’s stock, valued at $1,115,656.02. This represents a 38.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 201,466 shares of company stock valued at $6,973,828 in the last ninety days. 0.63% of the stock is currently owned by corporate insiders.

BorgWarner Stock Performance

Shares of BWA stock opened at $34.27 on Thursday. The company has a market capitalization of $7.49 billion, a P/E ratio of 8.70, a price-to-earnings-growth ratio of 0.78 and a beta of 1.20. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $38.22. The company’s 50 day moving average price is $34.52 and its two-hundred day moving average price is $33.84. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.48 and a current ratio of 1.84.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.17. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.50 billion. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. On average, analysts expect that BorgWarner Inc. will post 4.22 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 annualized dividend and a dividend yield of 1.28%. BorgWarner’s dividend payout ratio is currently 11.17%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BWA. Evercore ISI upgraded shares of BorgWarner from an “in-line” rating to an “outperform” rating and upped their target price for the company from $39.00 to $43.00 in a research report on Monday, October 14th. StockNews.com upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group cut their target price on shares of BorgWarner from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Wolfe Research began coverage on shares of BorgWarner in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Robert W. Baird increased their price target on shares of BorgWarner from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and ten have assigned 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 $41.21.

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.