Principal Financial Group Inc. Grows Holdings in BorgWarner Inc. (NYSE:BWA)

Principal Financial Group Inc. boosted its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 261,840 shares of the auto parts company’s stock after purchasing an additional 7,559 shares during the period. Principal Financial Group Inc.’s holdings in BorgWarner were worth $9,502,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its holdings in shares of BorgWarner by 361.1% during the second quarter. Point72 Asset Management L.P. now owns 2,450,696 shares of the auto parts company’s stock worth $79,010,000 after purchasing an additional 1,919,219 shares during the period. Dimensional Fund Advisors LP raised its position in BorgWarner by 23.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,628,733 shares of the auto parts company’s stock worth $278,190,000 after buying an additional 1,640,503 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of BorgWarner by 20.2% in the 2nd quarter. Earnest Partners LLC now owns 3,979,776 shares of the auto parts company’s stock worth $128,308,000 after acquiring an additional 669,137 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of BorgWarner by 86.0% in the second quarter. Hsbc Holdings PLC now owns 1,410,411 shares of the auto parts company’s stock valued at $45,576,000 after acquiring an additional 652,097 shares in the last quarter. Finally, Swedbank AB increased its stake in shares of BorgWarner by 236.5% during the third quarter. Swedbank AB now owns 844,112 shares of the auto parts company’s stock worth $30,633,000 after acquiring an additional 593,265 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of BorgWarner from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Bank of America decreased their price target on BorgWarner from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Evercore ISI upgraded BorgWarner from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $39.00 to $43.00 in a research report on Monday, October 14th. StockNews.com raised BorgWarner from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Finally, Wolfe Research started coverage on shares of BorgWarner in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.21.

BorgWarner Price Performance

BWA stock opened at $34.38 on Tuesday. The stock’s 50 day moving average price is $34.30 and its 200 day moving average price is $33.98. The firm has a market cap of $7.52 billion, a P/E ratio of 8.73, a PEG ratio of 0.71 and a beta of 1.20. 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 Inc. has a 1 year low of $29.51 and a 1 year high of $38.22.

BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. The business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.50 billion. BorgWarner had a return on equity of 15.51% and a net margin of 6.33%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 earnings per share. On average, sell-side analysts expect that BorgWarner Inc. will post 4.23 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Monday, December 2nd. BorgWarner’s dividend payout ratio is presently 11.17%.

Insider Activity at BorgWarner

In related news, VP Isabelle Mckenzie sold 5,700 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $34.62, for a total transaction of $197,334.00. Following the completion of the transaction, the vice president now owns 37,640 shares of the company’s stock, valued at approximately $1,303,096.80. This represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frederic Lissalde sold 154,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.61, for a total transaction of $5,329,940.00. Following the transaction, the chief executive officer now directly owns 259,957 shares in the company, valued at approximately $8,997,111.77. This represents a 37.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,466 shares of company stock valued at $6,973,828. Company insiders own 0.45% of the company’s stock.

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.