58,076 Shares in BorgWarner Inc. $BWA Purchased by Strs Ohio

Key Points

• Strs Ohio acquired 58,076 shares of BorgWarner Inc., valued at approximately $1.66 million, as part of its new stake in the company.
• BorgWarner recently reported $1.21 earnings per share for the quarter, exceeding the consensus estimate by $0.15, with revenue of $3.64 billion.
• The company announced a dividend increase from $0.11 to $0.17 per share, resulting in an annualized dividend yield of 1.6%.

Strs Ohio acquired a new position in shares of BorgWarner Inc. (NYSE:BWA - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 58,076 shares of the auto parts company's stock, valued at approximately $1,664,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Global X Japan Co. Ltd. grew its position in shares of BorgWarner by 133.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 915 shares of the auto parts company's stock valued at $26,000 after buying an additional 523 shares during the last quarter. Manchester Capital Management LLC acquired a new position in BorgWarner in the first quarter valued at about $30,000. Meeder Asset Management Inc. lifted its position in shares of BorgWarner by 63.5% during the first quarter. Meeder Asset Management Inc. now owns 1,388 shares of the auto parts company's stock worth $40,000 after purchasing an additional 539 shares in the last quarter. Allworth Financial LP increased its stake in 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 in the last quarter. Finally, WPG Advisers LLC bought a new position in BorgWarner in the first quarter valued at $42,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BorgWarner

In related news, VP Isabelle Mckenzie sold 2,500 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $40.01, for a total value of $100,025.00. Following the completion of the sale, the vice president directly owned 55,945 shares in the company, valued at $2,238,359.45. This trade represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexis P. Michas sold 8,772 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $42.31, for a total value of $371,143.32. Following the completion of the sale, the director owned 78,903 shares in the company, valued at $3,338,385.93. The trade was a 10.01% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,272 shares of company stock valued at $1,263,318. 0.45% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BWA. UBS Group lifted their price target on shares of BorgWarner from $35.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Piper Sandler lifted their price objective on shares of BorgWarner from $37.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Evercore ISI lifted their price objective on shares of BorgWarner from $38.00 to $42.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Wall Street Zen raised shares of BorgWarner from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th. Finally, Baird R W upgraded shares of BorgWarner from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $41.21.

BorgWarner Price Performance

Shares of NYSE BWA traded down $0.27 during trading on Friday, hitting $44.17. The company had a trading volume of 4,858,546 shares, compared to its average volume of 2,193,949. BorgWarner Inc. has a 52 week low of $24.40 and a 52 week high of $44.70. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.66 and a current ratio of 2.02. The company has a market cap of $9.56 billion, a P/E ratio of 46.99, a PEG ratio of 1.46 and a beta of 1.09. The business's 50-day moving average is $40.24 and its 200 day moving average is $33.97.

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

BorgWarner declared that its board has approved a stock repurchase program on Thursday, July 31st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the auto parts company to buy up to 13.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

BorgWarner Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, September 2nd. This is a boost from BorgWarner's previous quarterly dividend of $0.11. This represents a $0.68 annualized dividend and a yield of 1.5%. BorgWarner's dividend payout ratio (DPR) is presently 72.34%.

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.