LRI Investments LLC acquired a new stake in shares of BorgWarner Inc. (NYSE:BWA – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 921 shares of the auto parts company’s stock, valued at approximately $35,000.
Several other large investors also recently added to or reduced their stakes in the business. Quadrature Capital Ltd bought a new stake in BorgWarner during the first quarter valued at $285,000. Toronto Dominion Bank boosted its stake in BorgWarner by 33.4% during the first quarter. Toronto Dominion Bank now owns 137,876 shares of the auto parts company’s stock valued at $4,790,000 after buying an additional 34,488 shares during the period. Shell Asset Management Co. boosted its stake in BorgWarner by 148.3% during the first quarter. Shell Asset Management Co. now owns 35,243 shares of the auto parts company’s stock valued at $1,224,000 after buying an additional 21,051 shares during the period. Evermay Wealth Management LLC boosted its stake in BorgWarner by 41.7% during the first quarter. Evermay Wealth Management LLC now owns 1,700 shares of the auto parts company’s stock valued at $59,000 after buying an additional 500 shares during the period. Finally, Natixis bought a new stake in BorgWarner during the first quarter valued at $7,955,000. Institutional investors own 95.67% of the company’s stock.
BorgWarner Stock Up 2.0 %
BWA opened at $32.81 on Monday. BorgWarner Inc. has a 12 month low of $29.51 and a 12 month high of $46.77. The company has a market cap of $7.48 billion, a P/E ratio of 12.43, a P/E/G ratio of 0.76 and a beta of 1.22. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $33.59 and its 200-day moving average price is $33.46.
BorgWarner (NYSE:BWA – Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.16. BorgWarner had a return on equity of 15.33% and a net margin of 4.02%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the previous year, the business earned $1.09 EPS. BorgWarner’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts expect that BorgWarner Inc. will post 4.01 EPS for the current year.
BorgWarner declared that its board has authorized a share repurchase program on Thursday, May 2nd that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the auto parts company to buy up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.
BorgWarner Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.34%. BorgWarner’s dividend payout ratio (DPR) is 16.67%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on BWA shares. JPMorgan Chase & Co. dropped their price objective on BorgWarner from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Citigroup dropped their price target on BorgWarner from $41.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Robert W. Baird dropped their price target on BorgWarner from $40.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. StockNews.com lowered BorgWarner from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Oppenheimer lifted their price target on BorgWarner from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.29.
Get Our Latest Analysis on BWA
About BorgWarner
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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