Renasant Bank Sells 2,828 Shares of BorgWarner Inc. (NYSE:BWA)

Renasant Bank reduced its stake in BorgWarner Inc. (NYSE:BWA) by 21.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,589 shares of the auto parts company’s stock after selling 2,828 shares during the period. Renasant Bank’s holdings in BorgWarner were worth $337,000 as of its most recent SEC filing.

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

Insider Buying and Selling at BorgWarner

In related news, 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 approximately $7,820,789.60. This trade represents a 4.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Tania Wingfield sold 24,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total transaction of $690,960.00. Following the sale, the executive vice president now directly owns 39,110 shares in the company, valued at approximately $1,125,976.90. This trade represents a 38.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,800 shares of company stock worth $1,347,701 over the last ninety days. 0.63% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BWA. StockNews.com lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a research note on Friday. TD Cowen downgraded shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research report on Friday, March 7th. Cowen cut shares of BorgWarner from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Barclays cut their price target on BorgWarner from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lowered their price objective on BorgWarner from $51.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.73.

BorgWarner Price Performance

BWA opened at $27.76 on Friday. BorgWarner Inc. has a fifty-two week low of $27.65 and a fifty-two week high of $38.23. The firm has a 50-day moving average of $30.78 and a 200 day moving average of $32.79. 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 $6.07 billion, a P/E ratio of 19.42, a PEG ratio of 0.77 and a beta of 1.21.

BorgWarner (NYSE:BWA) last released its earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. On average, research analysts expect that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 yield of 1.58%. The ex-dividend date is Monday, March 3rd. BorgWarner’s dividend payout ratio is currently 30.77%.

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.