The Manufacturers Life Insurance Company reduced its position in BorgWarner Inc. (NYSE:BWA) by 5.5% during the fourth quarter, according to its latest SEC filing. The firm retained 174,675 shares of the auto parts company’s stock after selling 10,260 shares during the period. At the end of the reporting period, The Manufacturers Life Insurance Company owned 0.08% of BorgWarner, valued at $5,553,000.
Other institutional investors and hedge funds have recently adjusted their positions in BorgWarner. Resona Asset Management Co. Ltd. established a new position in the company during the fourth quarter, valued at approximately $45,000. Avior Wealth Management LLC increased its BorgWarner stake by 31.3% in Q4, now owning 1,435 shares worth $46,000. Quarry LP grew its position by 110.6%, holding 1,826 shares valued at $58,000. Generali Asset Management SPA SGR acquired a new stake worth about $59,000, while Wilmington Savings Fund Society FSB established a position valued at around $62,000 in the third quarter.
Institutional investors collectively own 95.67% of BorgWarner’s stock. On Thursday, NYSE:BWA opened at $30.32. The company boasts a market capitalization of $6.66 billion, a PE ratio of 21.20, and a beta of 1.08. BorgWarner’s stock has fluctuated between a 12-month low of $24.40 and a high of $38.23.
BorgWarner recently announced its quarterly earnings, reporting $1.11 EPS, surpassing analysts’ expectations of $0.98. The company generated $3.52 billion in revenue during the quarter, exceeding the consensus estimate of $3.39 billion. BorgWarner also declared a quarterly dividend, with investors of record on June 2nd eligible for a $0.11 dividend payment on June 16th.
Analysts have varied opinions on BorgWarner stock. StockNews.com upgraded shares to a ‘buy’ rating on April 24th, while TD Cowen downgraded their rating to ‘hold’ on March 7th. The stock currently holds a consensus ‘Moderate Buy’ rating among analysts, with an average target price of $37.00.
