7,300 Shares in BorgWarner Inc. $BWA Acquired by Chiron Capital Management LLC

Key Points

• Chiron Capital Management LLC acquired a new position in BorgWarner, purchasing 7,300 shares worth approximately $209,000 in the first quarter of 2023.
• BorgWarner reported a quarterly earnings per share (EPS) of $1.21, exceeding analysts' expectations and showing a slight revenue increase of 1.0% year-over-year.
• The company has announced a quarterly dividend increase, now set at $0.17 per share, and also approved a $1.00 billion share repurchase plan to buy back 13.2% of its stock.

Chiron Capital Management LLC acquired a new stake in BorgWarner Inc. (NYSE:BWA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,300 shares of the auto parts company's stock, valued at approximately $209,000.

Several other large investors also recently modified their holdings of BWA. Global X Japan Co. Ltd. raised its position in shares of BorgWarner by 133.4% in the first quarter. Global X Japan Co. Ltd. now owns 915 shares of the auto parts company's stock valued at $26,000 after purchasing an additional 523 shares during the period. Manchester Capital Management LLC bought a new position in shares of BorgWarner in the first quarter valued at about $30,000. LRI Investments LLC raised its position in shares of BorgWarner by 1,515.0% in the fourth quarter. LRI Investments LLC now owns 969 shares of the auto parts company's stock valued at $31,000 after purchasing an additional 909 shares during the period. Meeder Asset Management Inc. raised its position in shares of BorgWarner by 63.5% in the first quarter. Meeder Asset Management Inc. now owns 1,388 shares of the auto parts company's stock valued at $40,000 after purchasing an additional 539 shares during the period. Finally, Allworth Financial LP raised its position in shares of BorgWarner by 123.1% in the first quarter. Allworth Financial LP now owns 1,437 shares of the auto parts company's stock valued at $41,000 after purchasing an additional 793 shares during the period. 95.67% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Alexis P. Michas sold 8,772 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $42.31, for a total value of $371,143.32. Following the sale, the director directly owned 78,903 shares in the company, valued at approximately $3,338,385.93. This trade represents a 10.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Isabelle Mckenzie sold 2,500 shares of the firm'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 transaction of $100,025.00. Following the completion of the sale, the vice president owned 55,945 shares in the company, valued at approximately $2,238,359.45. The trade was a 4.28% 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 worth $1,263,318. Corporate insiders own 0.45% of the company's stock.

BorgWarner Price Performance

BorgWarner stock traded up $0.15 during trading hours on Friday, reaching $44.00. 2,033,625 shares of the stock were exchanged, compared to its average volume of 2,249,205. The company has a market cap of $9.52 billion, a P/E ratio of 46.81, a price-to-earnings-growth ratio of 1.33 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. BorgWarner Inc. has a twelve month low of $24.40 and a twelve month high of $44.32. The stock has a 50 day moving average of $38.46 and a two-hundred day moving average of $32.98.

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. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.56 billion. BorgWarner had a net margin of 1.50% and a return on equity of 16.17%. The business's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 earnings per share. BorgWarner has set its FY 2025 guidance at 4.450-4.65 EPS. Equities analysts expect that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner announced that its board has authorized a share repurchase plan on Thursday, July 31st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the auto parts company to repurchase up to 13.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

BorgWarner Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 2nd. This is an increase from BorgWarner's previous quarterly dividend of $0.11. BorgWarner's dividend payout ratio is 72.34%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Barclays reaffirmed an "overweight" rating and set a $45.00 price target (up from $42.00) on shares of BorgWarner in a research report on Wednesday, July 16th. JPMorgan Chase & Co. raised their price target on shares of BorgWarner from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Baird R W raised shares of BorgWarner from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Piper Sandler raised their price target on shares of BorgWarner from $37.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, UBS Group raised their price target on shares of BorgWarner from $35.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.57.

About BorgWarner

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.