ACK Asset Management LLC acquired a new position in BorgWarner Inc. (NYSE:BWA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 600,000 shares of the auto parts company's stock, valued at approximately $39,840,000. BorgWarner accounts for about 4.7% of ACK Asset Management LLC's portfolio, making the stock its 11th largest holding. ACK Asset Management LLC owned about 0.29% of BorgWarner at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of BorgWarner during the 2nd quarter worth approximately $313,000. Kendall Capital Management purchased a new position in shares of BorgWarner during the 2nd quarter valued at approximately $4,109,000. Elevation Point Wealth Partners LLC acquired a new stake in BorgWarner in the 2nd quarter valued at $612,000. Commerce Bank acquired a new stake in BorgWarner in the 2nd quarter valued at $1,354,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in BorgWarner in the 2nd quarter worth $553,000. 95.67% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
BWA has been the subject of several research analyst reports. The Goldman Sachs Group restated a "buy" rating and set a $84.00 price target on shares of BorgWarner in a research report on Thursday, June 11th. Wall Street Zen upgraded BorgWarner from a "hold" rating to a "buy" rating in a report on Saturday, June 27th. Robert W. Baird set a $79.00 price objective on BorgWarner in a research note on Thursday, August 6th. Morgan Stanley boosted their price objective on BorgWarner from $67.00 to $71.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. Finally, Sanford C. Bernstein raised BorgWarner to a "buy" rating in a report on Wednesday, June 10th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $75.93.
Read Our Latest Stock Analysis on BorgWarner
BorgWarner Stock Down 0.1%
BWA stock opened at $67.74 on Monday. The company has a market cap of $13.80 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 1.22 and a beta of 1.10. The company has a current ratio of 2.13, a quick ratio of 1.76 and a debt-to-equity ratio of 0.67. BorgWarner Inc. has a 12 month low of $40.50 and a 12 month high of $78.82. The firm has a 50-day moving average of $66.34 and a two-hundred day moving average of $61.66.
BorgWarner (NYSE:BWA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The auto parts company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.14. BorgWarner had a return on equity of 19.10% and a net margin of 2.89%.The business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same period in the prior year, the business earned $1.21 earnings per share. The business's revenue was up .3% compared to the same quarter last year. BorgWarner has set its FY 2026 guidance at 5.050-5.300 EPS. As a group, analysts forecast that BorgWarner Inc. will post 5.19 earnings per share for the current fiscal year.
BorgWarner Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. BorgWarner's payout ratio is presently 34.00%.
BorgWarner announced that its board has approved a share buyback plan on Wednesday, August 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the auto parts company to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.
Insider Transactions at BorgWarner
In related news, CAO Amy B. Kulikowski sold 2,900 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $68.60, for a total transaction of $198,940.00. Following the completion of the sale, the chief accounting officer directly owned 9,725 shares in the company, valued at approximately $667,135. This trade represents a 22.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rajesh Kalathur bought 7,407 shares of BorgWarner stock in a transaction on Wednesday, August 19th. The shares were purchased at an average cost of $67.59 per share, for a total transaction of $500,639.13. Following the completion of the purchase, the director directly owned 7,407 shares of the company's stock, valued at $500,639.13. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.76% of the company's stock.
About BorgWarner
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding BWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BorgWarner Inc. (NYSE:BWA - Free Report).
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