Westhampton Capital LLC acquired a new stake in BorgWarner Inc. (NYSE:BWA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,400 shares of the auto parts company's stock, valued at approximately $214,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Global X Japan Co. Ltd. increased its stake in BorgWarner by 133.4% during the first quarter. Global X Japan Co. Ltd. now owns 915 shares of the auto parts company's stock worth $26,000 after purchasing an additional 523 shares during the period. Manchester Capital Management LLC acquired a new position in BorgWarner in the first quarter valued at approximately $30,000. Meeder Asset Management Inc. lifted its stake in 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 buying an additional 539 shares during the last quarter. Allworth Financial LP raised its position in BorgWarner by 123.1% in the first quarter. Allworth Financial LP now owns 1,437 shares of the auto parts company's stock worth $41,000 after acquiring an additional 793 shares in the last quarter. Finally, Brooklyn Investment Group raised its position in BorgWarner by 97.9% in the first quarter. Brooklyn Investment Group now owns 1,480 shares of the auto parts company's stock worth $42,000 after acquiring an additional 732 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.
BorgWarner Stock Performance
BWA opened at $43.78 on Tuesday. The company has a market cap of $9.47 billion, a PE ratio of 46.57, a price-to-earnings-growth ratio of 1.45 and a beta of 1.09. The stock has a 50-day moving average of $41.24 and a 200-day moving average of $34.65. 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.
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 the consensus estimate of $1.06 by $0.15. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.56 billion. BorgWarner had a return on equity of 16.17% and a net margin of 1.50%.The firm's revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.19 EPS. BorgWarner has set its FY 2025 guidance at 4.450-4.65 EPS. As a group, equities research analysts forecast that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.
BorgWarner Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from BorgWarner's previous quarterly dividend of $0.11. BorgWarner's dividend payout ratio is currently 72.34%.
BorgWarner declared that its board has approved a stock repurchase plan on Thursday, July 31st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the auto parts company to buy up to 13.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on BWA shares. Wells Fargo & Company increased their price objective on BorgWarner from $50.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, September 25th. The Goldman Sachs Group lifted their price objective on BorgWarner from $45.00 to $52.00 and gave the stock a "buy" rating in a report on Monday. UBS Group boosted their price target on BorgWarner from $35.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, July 14th. JPMorgan Chase & Co. boosted their price target on BorgWarner from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Piper Sandler boosted their target price on BorgWarner from $37.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, BorgWarner presently has an average rating of "Moderate Buy" and an average target price of $42.79.
Read Our Latest Analysis on BWA
Insider Activity at BorgWarner
In related news, VP Isabelle Mckenzie sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was 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 $2,238,359.45. This represents a 4.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexis P. Michas sold 8,772 shares of the 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 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 in the last 90 days. 0.45% of the stock is owned by company insiders.
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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