Invesco Ltd. cut its holdings in BorgWarner Inc. (NYSE:BWA - Free Report) by 79.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,371,058 shares of the auto parts company's stock after selling 5,423,962 shares during the quarter. Invesco Ltd. owned approximately 0.62% of BorgWarner worth $39,281,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of BWA. Raymond James Financial Inc. acquired a new stake in BorgWarner in the fourth quarter valued at about $3,860,000. Barclays PLC boosted its stake in BorgWarner by 13.6% in the fourth quarter. Barclays PLC now owns 503,809 shares of the auto parts company's stock valued at $16,015,000 after buying an additional 60,333 shares in the last quarter. Mariner LLC boosted its stake in BorgWarner by 1.7% in the fourth quarter. Mariner LLC now owns 97,782 shares of the auto parts company's stock valued at $3,108,000 after buying an additional 1,638 shares in the last quarter. XTX Topco Ltd boosted its stake in BorgWarner by 52.5% in the fourth quarter. XTX Topco Ltd now owns 11,511 shares of the auto parts company's stock valued at $366,000 after buying an additional 3,961 shares in the last quarter. Finally, Jump Financial LLC boosted its stake in BorgWarner by 31.9% in the fourth quarter. Jump Financial LLC now owns 26,573 shares of the auto parts company's stock valued at $845,000 after buying an additional 6,431 shares in the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have commented on the company. Morgan Stanley increased their target price on BorgWarner from $40.00 to $42.00 and gave the company an "overweight" rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. increased their target price on BorgWarner from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Wells Fargo & Company increased their target price on BorgWarner from $45.00 to $46.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Bank of America increased their target price on BorgWarner from $35.00 to $41.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Finally, Barclays reiterated an "overweight" rating and issued a $45.00 target price (up from $42.00) on shares of BorgWarner in a research report on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.64.
View Our Latest Stock Analysis on BorgWarner
Insider Buying and Selling
In other news, VP Stefan Demmerle sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $40.50, for a total transaction of $202,500.00. Following the completion of the sale, the vice president owned 229,040 shares in the company, valued at $9,276,120. The trade was a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Isabelle Mckenzie sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $40.01, for a total value of $100,025.00. Following the sale, the vice president owned 55,945 shares of the company's stock, valued at approximately $2,238,359.45. This represents a 4.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,500 shares of company stock valued at $892,175. 0.45% of the stock is currently owned by corporate insiders.
BorgWarner Trading Up 2.3%
BWA stock traded up $0.9650 during mid-day trading on Friday, reaching $42.8050. The company's stock had a trading volume of 1,096,280 shares, compared to its average volume of 2,850,980. The company has a market cap of $9.26 billion, a price-to-earnings ratio of 45.56, a price-to-earnings-growth ratio of 1.28 and a beta of 1.10. The business's 50 day moving average price is $36.26 and its 200 day moving average price is $31.98. The company has a current ratio of 2.02, a quick ratio of 1.66 and a debt-to-equity ratio of 0.64. BorgWarner Inc. has a 12 month low of $24.40 and a 12 month high of $43.12.
BorgWarner (NYSE:BWA - Get Free Report) last issued its earnings results on Thursday, July 31st. The auto parts company reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.15. The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.56 billion. BorgWarner had a return on equity of 16.17% and a net margin of 1.50%.The firm's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share. BorgWarner has set its FY 2025 guidance at 4.450-4.65 EPS. On average, equities research analysts predict that BorgWarner Inc. will post 4.28 EPS for the current year.
BorgWarner Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.17 dividend. This is an increase from BorgWarner's previous quarterly dividend of $0.11. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. BorgWarner's payout ratio is presently 46.81%.
BorgWarner announced that its board has approved a stock buyback plan on Thursday, July 31st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the auto parts company to buy up to 13.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
About BorgWarner
(
Free Report)
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.
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