Raymond James Financial Inc. Has $3.17 Million Stock Holdings in BorgWarner Inc. $BWA

Raymond James Financial Inc. reduced its stake in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 8.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 110,633 shares of the auto parts company's stock after selling 10,775 shares during the quarter. Raymond James Financial Inc. owned about 0.05% of BorgWarner worth $3,170,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. grew its position in shares of BorgWarner by 1.7% during the 1st quarter. American Century Companies Inc. now owns 3,716,576 shares of the auto parts company's stock worth $106,480,000 after buying an additional 60,382 shares during the period. Ethic Inc. grew its position in shares of BorgWarner by 12.9% during the 1st quarter. Ethic Inc. now owns 74,184 shares of the auto parts company's stock worth $2,117,000 after buying an additional 8,475 shares during the period. Brandywine Global Investment Management LLC grew its position in shares of BorgWarner by 16.0% during the 1st quarter. Brandywine Global Investment Management LLC now owns 217,099 shares of the auto parts company's stock worth $6,220,000 after buying an additional 29,996 shares during the period. Dimensional Fund Advisors LP grew its position in shares of BorgWarner by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,568,627 shares of the auto parts company's stock worth $331,429,000 after buying an additional 284,587 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new position in shares of BorgWarner during the 1st quarter valued at about $398,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

BorgWarner Stock Down 1.5%

Shares of BorgWarner stock traded down $0.67 on Friday, reaching $43.69. 1,925,820 shares of the company were exchanged, compared to its average volume of 2,277,518. BorgWarner Inc. has a one year low of $24.40 and a one year high of $44.45. The company has a market capitalization of $9.45 billion, a price-to-earnings ratio of 46.47, a PEG ratio of 1.46 and a beta of 1.09. The company has a current ratio of 2.02, a quick ratio of 1.66 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average of $39.37 and a 200 day moving average of $33.46.

BorgWarner (NYSE:BWA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The auto parts company reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.15. BorgWarner had a return on equity of 16.17% and a net margin of 1.50%.The company had revenue of $3.64 billion for the quarter, compared to analysts' expectations of $3.56 billion. During the same quarter in the prior year, the business posted $1.19 EPS. The business's revenue was up 1.0% compared to the same quarter last year. BorgWarner has set its FY 2025 guidance at 4.450-4.65 EPS. On average, equities research analysts forecast that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner declared that its Board of Directors has approved a share repurchase plan on Thursday, July 31st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the auto parts company to purchase up to 13.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

BorgWarner Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from BorgWarner's previous quarterly dividend of $0.11. BorgWarner's payout ratio is presently 72.34%.

Insider Buying and Selling

In related news, VP Stefan Demmerle sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $39.31, for a total transaction of $589,650.00. Following the transaction, the vice president directly owned 234,040 shares of the company's stock, valued at approximately $9,200,112.40. The trade was a 6.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexis P. Michas sold 8,772 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $42.31, for a total value of $371,143.32. Following the transaction, the director directly owned 78,903 shares in the company, valued at $3,338,385.93. The trade was a 10.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,272 shares of company stock valued at $1,263,318. 0.45% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BWA shares. Barclays reiterated an "overweight" rating and set a $45.00 price objective (up previously from $42.00) on shares of BorgWarner in a report on Wednesday, July 16th. Robert W. Baird upgraded BorgWarner from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $41.00 to $52.00 in a report on Wednesday, September 3rd. Baird R W upgraded BorgWarner from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Morgan Stanley lifted their price objective on BorgWarner from $40.00 to $42.00 and gave the company an "overweight" rating in a report on Tuesday, August 12th. Finally, Evercore ISI lifted their price objective on BorgWarner from $38.00 to $42.00 and gave the company an "outperform" rating in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $41.21.

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.