Penserra Capital Management LLC Takes $699,000 Position in BorgWarner Inc. $BWA

Penserra Capital Management LLC purchased a new position in shares of BorgWarner Inc. (NYSE:BWA) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 15,904 shares of the auto parts company’s stock, valued at approximately $699,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BWA. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in BorgWarner by 7.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,411 shares of the auto parts company’s stock valued at $1,889,000 after buying an additional 4,078 shares during the last quarter. CWM LLC grew its position in shares of BorgWarner by 218.3% in the 3rd quarter. CWM LLC now owns 235,861 shares of the auto parts company’s stock worth $10,368,000 after acquiring an additional 161,755 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in shares of BorgWarner in the 3rd quarter valued at approximately $1,876,000. Columbia Bank acquired a new stake in shares of BorgWarner during the 2nd quarter valued at approximately $239,000. Finally, Merit Financial Group LLC raised its position in shares of BorgWarner by 73.1% during the 3rd quarter. Merit Financial Group LLC now owns 44,395 shares of the auto parts company’s stock valued at $1,952,000 after acquiring an additional 18,749 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

BorgWarner Stock Up 3.7%

BWA opened at $52.23 on Friday. The stock’s 50 day moving average price is $46.39 and its 200 day moving average price is $43.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.05 and a quick ratio of 1.69. The stock has a market cap of $11.17 billion, a P/E ratio of 82.91, a P/E/G ratio of 1.05 and a beta of 1.09. BorgWarner Inc. has a 12 month low of $24.40 and a 12 month high of $52.27.

BorgWarner Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, March 2nd. BorgWarner’s payout ratio is currently 107.94%.

Wall Street Analysts Forecast Growth

BWA has been the subject of several recent research reports. UBS Group boosted their target price on shares of BorgWarner from $46.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Zacks Research downgraded shares of BorgWarner from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. JPMorgan Chase & Co. increased their price objective on shares of BorgWarner from $45.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Piper Sandler restated a “neutral” rating and issued a $51.00 target price (down from $52.00) on shares of BorgWarner in a research note on Thursday, January 8th. Finally, Wells Fargo & Company dropped their price target on BorgWarner from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 9th. Eight equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.31.

Insiders Place Their Bets

In related news, VP Stefan Demmerle sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the sale, the vice president owned 204,040 shares of the company’s stock, valued at $9,385,840. This represents a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.45% of the stock is owned by insiders.

About BorgWarner

BorgWarner Inc is a global automotive supplier specializing in propulsion and drivetrain solutions for combustion, hybrid and electric vehicles. The company’s product portfolio includes turbochargers, thermal management systems, transmission components, e-Propulsion modules and advanced fuel-efficiency technologies. BorgWarner serves original equipment manufacturers (OEMs) across passenger cars, light trucks and commercial vehicles, supporting both legacy internal-combustion engines and emerging electrification trends.

Founded in 1928 through the merger of several driveline companies, BorgWarner has grown through strategic acquisitions and continuous investment in research and development.