Vestcor Inc bought a new position in shares of BorgWarner Inc. (NYSE:BWA - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,838 shares of the auto parts company's stock, valued at approximately $396,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC raised its position in BorgWarner by 19.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 36,196 shares of the auto parts company's stock worth $1,151,000 after acquiring an additional 5,908 shares during the last quarter. Wellington Management Group LLP lifted its position in BorgWarner by 231.1% during the 4th quarter. Wellington Management Group LLP now owns 91,466 shares of the auto parts company's stock worth $2,908,000 after acquiring an additional 63,837 shares in the last quarter. Franklin Resources Inc. increased its stake in BorgWarner by 7.2% during the 4th quarter. Franklin Resources Inc. now owns 271,965 shares of the auto parts company's stock worth $8,646,000 after buying an additional 18,340 shares during the period. National Bank of Canada FI boosted its position in BorgWarner by 10.5% in the 4th quarter. National Bank of Canada FI now owns 101,275 shares of the auto parts company's stock valued at $3,220,000 after buying an additional 9,622 shares during the last quarter. Finally, Landscape Capital Management L.L.C. grew its stake in shares of BorgWarner by 24.4% during the fourth quarter. Landscape Capital Management L.L.C. now owns 38,629 shares of the auto parts company's stock valued at $1,228,000 after acquiring an additional 7,578 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the company. Robert W. Baird increased their price target on BorgWarner from $32.00 to $39.00 and gave the company a "neutral" rating in a report on Friday, July 11th. The Goldman Sachs Group raised shares of BorgWarner from a "neutral" rating to a "buy" rating and raised their price target for the stock from $31.00 to $34.00 in a research report on Thursday, April 10th. Piper Sandler upped their price target on shares of BorgWarner from $37.00 to $44.00 and gave the company an "overweight" rating in a report on Friday. UBS Group upped their target price on shares of BorgWarner from $35.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Finally, Guggenheim decreased their price target on BorgWarner from $38.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $39.50.
Get Our Latest Report on BorgWarner
Insider Activity at BorgWarner
In related news, VP Isabelle Mckenzie sold 5,000 shares of BorgWarner stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $33.25, for a total value of $166,250.00. Following the transaction, the vice president owned 63,445 shares of the company's stock, valued at approximately $2,109,546.25. This trade represents a 7.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tonit M. Calaway sold 27,736 shares of BorgWarner stock in a transaction on Monday, May 12th. The shares were sold at an average price of $32.83, for a total value of $910,572.88. Following the transaction, the executive vice president owned 214,521 shares in the company, valued at $7,042,724.43. This represents a 11.45% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.63% of the company's stock.
BorgWarner Stock Performance
NYSE BWA traded down $0.45 on Tuesday, hitting $37.83. The stock had a trading volume of 2,596,960 shares, compared to its average volume of 1,994,730. The company's 50-day moving average is $34.36 and its two-hundred day moving average is $31.25. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of 40.24, a P/E/G ratio of 1.14 and a beta of 1.10. The company has a quick ratio of 1.66, a current ratio of 2.02 and a debt-to-equity ratio of 0.64. BorgWarner Inc. has a one year low of $24.40 and a one year high of $38.50.
BorgWarner (NYSE:BWA - Get Free Report) last posted its earnings results on Thursday, July 31st. The auto parts company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.06 by $0.15. BorgWarner had a return on equity of 16.17% and a net margin of 1.50%. The firm had revenue of $3.64 billion for the quarter, compared to analysts' expectations of $3.56 billion. During the same period last year, the firm earned $1.19 EPS. The firm's revenue was up 1.0% compared to the same quarter last year. On average, analysts expect that BorgWarner Inc. will post 4.28 earnings per share for the current year.
BorgWarner Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.17 dividend. This is a positive change from BorgWarner's previous quarterly dividend of $0.11. This represents a $0.68 annualized dividend and a yield of 1.8%. BorgWarner's payout ratio is 46.81%.
BorgWarner declared that its Board of Directors has approved a stock repurchase program 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 buy up to 13.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.
About BorgWarner
(
Free Report)
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.
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