Engineers Gate Manager LP Grows Position in BorgWarner Inc. $BWA

Key Points

• Engineers Gate Manager LP increased its BorgWarner position by 85.5% in the second quarter, bringing its holdings to 64,351 shares valued at approximately $4.27 million. Institutional investors collectively own 95.67% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $78.86; nine analysts rate the stock Buy and six rate it Hold. BorgWarner recently exceeded quarterly earnings and revenue estimates.
• BorgWarner declared a quarterly dividend of $0.17, or $0.68 annually, and authorized a $1 billion share repurchase program covering up to 7.7% of outstanding shares.

Engineers Gate Manager LP increased its holdings in BorgWarner Inc. (NYSE:BWA - Free Report) by 85.5% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 64,351 shares of the auto parts company's stock after buying an additional 29,652 shares during the quarter. Engineers Gate Manager LP's holdings in BorgWarner were worth $4,273,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Acadian Asset Management LLC raised its holdings in shares of BorgWarner by 23.7% during the first quarter. Acadian Asset Management LLC now owns 8,979 shares of the auto parts company's stock valued at $257,000 after purchasing an additional 1,723 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in BorgWarner in the second quarter worth approximately $339,000. EverSource Wealth Advisors LLC boosted its holdings in BorgWarner by 400.5% in the second quarter. EverSource Wealth Advisors LLC now owns 5,531 shares of the auto parts company's stock worth $185,000 after purchasing an additional 4,426 shares during the last quarter. Marshall Wace LLP bought a new stake in BorgWarner in the 2nd quarter worth approximately $247,000. Finally, Cerity Partners LLC grew its position in BorgWarner by 30.2% in the 2nd quarter. Cerity Partners LLC now owns 143,841 shares of the auto parts company's stock worth $4,816,000 after purchasing an additional 33,362 shares during the period. Hedge funds and other institutional investors own 95.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Morgan Stanley increased their price target on BorgWarner from $67.00 to $71.00 and gave the company an "equal weight" rating in a report on Thursday, August 6th. Robert W. Baird set a $79.00 price objective on BorgWarner in a report on Thursday, August 6th. Wolfe Research reissued an "outperform" rating and issued a $95.00 target price on shares of BorgWarner in a report on Wednesday, June 3rd. UBS Group raised BorgWarner from a "neutral" rating to a "buy" rating and raised their target price for the stock from $61.00 to $95.00 in a research report on Wednesday, June 10th. Finally, Wall Street Zen downgraded BorgWarner from a "buy" rating to a "hold" rating in a research note on Saturday. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.86.

Insider Transactions at BorgWarner

In other news, CAO Amy Kulikowski sold 2,900 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $68.60, for a total value of $198,940.00. Following the transaction, the chief accounting officer owned 9,725 shares of the company's stock, valued at $667,135. This trade represents a 22.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Hanley sold 5,000 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $65.51, for a total value of $327,550.00. Following the transaction, the director owned 34,313 shares of the company's stock, valued at approximately $2,247,844.63. This trade represents a 12.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.76% of the company's stock.

BorgWarner Trading Up 1.5%

Shares of BorgWarner stock opened at $66.69 on Friday. BorgWarner Inc. has a 1-year low of $40.50 and a 1-year high of $78.82. The company's fifty day simple moving average is $65.30 and its 200-day simple moving average is $62.42. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.76. The stock has a market capitalization of $13.58 billion, a PE ratio of 33.35, a P/E/G ratio of 1.20 and a beta of 1.12.

BorgWarner (NYSE:BWA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The auto parts company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.28 by $0.14. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.58 billion. BorgWarner had a return on equity of 19.10% and a net margin of 2.89%.BorgWarner's revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 EPS. BorgWarner has set its FY 2026 guidance at 5.050-5.300 EPS. As a group, equities analysts anticipate that BorgWarner Inc. will post 5.2 earnings per share for the current year.

BorgWarner Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.17 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. BorgWarner's dividend payout ratio is presently 34.00%.

BorgWarner announced that its Board of Directors has initiated a share buyback program on Wednesday, August 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the auto parts company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

About BorgWarner

BorgWarner Inc NYSE: BWA is a global automotive technology company headquartered in Auburn Hills, Michigan. The company develops and supplies propulsion and drivetrain systems for passenger vehicles, commercial vehicles and off-highway applications, serving automakers and other transportation manufacturers worldwide.

Its product portfolio includes turbochargers, transmission systems, dual-clutch modules, four-wheel-drive systems, emissions technologies, and components for hybrid and internal-combustion vehicles.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.