Victory Capital Management Inc. Has $346.61 Million Stock Holdings in BorgWarner Inc. (NYSE:BWA)

Victory Capital Management Inc. lifted its position in BorgWarner Inc. (NYSE:BWA) by 10.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,668,438 shares of the auto parts company’s stock after acquiring an additional 948,659 shares during the period. Victory Capital Management Inc. owned approximately 4.11% of BorgWarner worth $346,614,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. NewEdge Wealth LLC raised its position in shares of BorgWarner by 5.8% in the 3rd quarter. NewEdge Wealth LLC now owns 6,206 shares of the auto parts company’s stock valued at $251,000 after acquiring an additional 339 shares during the period. Bank of Nova Scotia raised its position in shares of BorgWarner by 1.8% in the 3rd quarter. Bank of Nova Scotia now owns 21,842 shares of the auto parts company’s stock valued at $882,000 after acquiring an additional 389 shares during the period. Miracle Mile Advisors LLC raised its position in shares of BorgWarner by 4.3% in the 3rd quarter. Miracle Mile Advisors LLC now owns 9,391 shares of the auto parts company’s stock valued at $379,000 after acquiring an additional 390 shares during the period. Raymond James Trust N.A. increased its stake in BorgWarner by 4.1% during the 4th quarter. Raymond James Trust N.A. now owns 10,137 shares of the auto parts company’s stock worth $363,000 after purchasing an additional 401 shares in the last quarter. Finally, RNC Capital Management LLC increased its stake in BorgWarner by 0.8% during the 3rd quarter. RNC Capital Management LLC now owns 56,650 shares of the auto parts company’s stock worth $2,287,000 after purchasing an additional 457 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Robert W. Baird cut BorgWarner from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $45.00 to $39.00 in a research note on Wednesday, January 3rd. Piper Sandler started coverage on BorgWarner in a research note on Friday, March 15th. They set an “overweight” rating and a $43.00 target price for the company. TheStreet cut shares of BorgWarner from a “b-” rating to a “c+” rating in a research note on Thursday, February 8th. StockNews.com cut shares of BorgWarner from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, BNP Paribas cut shares of BorgWarner from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $43.00 to $35.00 in a research note on Tuesday, February 20th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, BorgWarner currently has an average rating of “Moderate Buy” and a consensus target price of $44.30.

Insiders Place Their Bets

In other BorgWarner news, VP Stefan Demmerle sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total transaction of $99,000.00. Following the transaction, the vice president now directly owns 249,013 shares in the company, valued at approximately $8,217,429. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Stefan Demmerle sold 3,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total value of $99,000.00. Following the transaction, the vice president now directly owns 249,013 shares in the company, valued at approximately $8,217,429. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Volker Weng sold 20,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $32.85, for a total value of $657,000.00. Following the completion of the transaction, the vice president now owns 111,964 shares in the company, valued at $3,678,017.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 287,503 shares of company stock worth $9,015,478. Corporate insiders own 0.63% of the company’s stock.

BorgWarner Price Performance

NYSE BWA traded up $0.26 during trading on Wednesday, hitting $33.03. 1,270,845 shares of the company’s stock were exchanged, compared to its average volume of 2,820,234. The company has a current ratio of 1.65, a quick ratio of 1.30 and a debt-to-equity ratio of 0.61. The company has a market cap of $7.59 billion, a PE ratio of 12.28, a P/E/G ratio of 1.01 and a beta of 1.31. BorgWarner Inc. has a fifty-two week low of $29.51 and a fifty-two week high of $50.04. The stock’s 50 day moving average price is $32.82 and its two-hundred day moving average price is $33.78.

BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, February 8th. The auto parts company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.03). BorgWarner had a net margin of 3.94% and a return on equity of 14.69%. The firm had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same period in the prior year, the company earned $1.26 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts expect that BorgWarner Inc. will post 3.9 EPS for the current year.

BorgWarner Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Monday, June 3rd. BorgWarner’s dividend payout ratio is presently 16.48%.

BorgWarner 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.