BorgWarner Inc. $BWA Shares Purchased by Millennium Management LLC

Millennium Management LLC raised its position in BorgWarner Inc. (NYSE:BWA - Free Report) by 144.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,009,744 shares of the auto parts company's stock after buying an additional 1,188,466 shares during the period. Millennium Management LLC owned about 0.91% of BorgWarner worth $57,579,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in BorgWarner by 1.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 177,648 shares of the auto parts company's stock worth $5,090,000 after purchasing an additional 1,760 shares in the last quarter. Gotham Asset Management LLC lifted its stake in BorgWarner by 30.1% during the first quarter. Gotham Asset Management LLC now owns 489,941 shares of the auto parts company's stock worth $14,037,000 after purchasing an additional 113,372 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in BorgWarner by 14.0% during the first quarter. Advisors Asset Management Inc. now owns 19,728 shares of the auto parts company's stock worth $565,000 after purchasing an additional 2,420 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its stake in BorgWarner by 6.3% during the first quarter. Federation des caisses Desjardins du Quebec now owns 74,260 shares of the auto parts company's stock worth $2,128,000 after purchasing an additional 4,404 shares in the last quarter. Finally, Chiron Capital Management LLC acquired a new position in BorgWarner during the first quarter worth $209,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BorgWarner

In related news, VP Stefan Demmerle sold 5,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $40.50, for a total value 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. This trade represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexis P. Michas sold 8,772 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $42.31, for a total transaction of $371,143.32. Following the completion of the sale, the director owned 78,903 shares of the company's stock, valued at approximately $3,338,385.93. The trade was a 10.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,272 shares of company stock worth $1,263,318 over the last 90 days. Company insiders own 0.45% of the company's stock.

BorgWarner Stock Performance

Shares of NYSE BWA traded down $0.67 during midday trading on Friday, reaching $43.69. 1,925,820 shares of the company were exchanged, compared to its average volume of 2,277,518. 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 1 year low of $24.40 and a 1 year high of $44.45. The stock has a fifty day simple moving average of $39.37 and a 200 day simple moving average of $33.46. The stock has a market cap of $9.45 billion, a P/E ratio of 46.47, a PEG ratio of 1.46 and a beta of 1.09.

BorgWarner (NYSE:BWA - Get Free Report) last released its quarterly earnings results 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 analyst estimates of $3.56 billion. BorgWarner had a return on equity of 16.17% and a net margin of 1.50%.The business's revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $1.19 earnings per share. BorgWarner has set its FY 2025 guidance at 4.450-4.65 EPS. On average, research analysts forecast that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

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

BorgWarner Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.17 dividend. The ex-dividend date is Tuesday, September 2nd. 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 72.34%.

Analyst Upgrades and Downgrades

BWA has been the topic of a number of recent research reports. Wall Street Zen raised BorgWarner from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 12th. Barclays reaffirmed an "overweight" rating and set a $45.00 price objective (up previously from $42.00) on shares of BorgWarner in a research report on Wednesday, July 16th. Wells Fargo & Company upped their price objective on BorgWarner from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday. Bank of America lowered BorgWarner from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $41.00 to $46.00 in a research report on Wednesday. Finally, Morgan Stanley upped their price objective on BorgWarner from $40.00 to $42.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, BorgWarner currently has a consensus rating of "Moderate Buy" and a consensus target price 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.