Oppenheimer Raises BorgWarner (NYSE:BWA) Price Target to $40.00

BorgWarner (NYSE:BWA) had its price target increased by Oppenheimer from $39.00 to $40.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the auto parts company’s stock.

Other equities research analysts also recently issued reports about the company. Barclays increased their price target on BorgWarner from $40.00 to $44.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Piper Sandler initiated coverage on BorgWarner in a research note on Friday, March 15th. They set an overweight rating and a $43.00 target price for the company. Robert W. Baird lifted their price target on shares of BorgWarner from $36.00 to $40.00 and gave the company a neutral rating in a research note on Friday. StockNews.com cut shares of BorgWarner from a buy rating to a hold rating in a report on Friday, February 9th. Finally, BNP Paribas lowered shares of BorgWarner from an outperform rating to a neutral rating and dropped their price objective for the stock from $43.00 to $35.00 in a report on Tuesday, February 20th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $43.93.

BorgWarner Stock Up 2.3 %

Shares of NYSE BWA opened at $36.44 on Friday. BorgWarner has a 52-week low of $29.51 and a 52-week high of $50.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.30 and a current ratio of 1.54. The stock has a market cap of $8.37 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.09 and a beta of 1.30. The firm has a 50 day moving average price of $33.10 and a 200 day moving average price of $33.69.

BorgWarner (NYSE:BWA) 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 the consensus estimate of $0.87 by $0.16. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.51 billion. BorgWarner had a net margin of 4.02% and a return on equity of 15.33%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. Analysts expect that BorgWarner will post 3.94 EPS for the current year.

BorgWarner Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.21%. BorgWarner’s dividend payout ratio (DPR) is currently 16.67%.

Insider Buying and Selling

In other BorgWarner news, VP Volker Weng sold 20,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $32.85, for a total value of $657,000.00. Following the transaction, the vice president now directly owns 111,964 shares of the company’s stock, valued at approximately $3,678,017.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Tonit M. Calaway sold 35,603 shares of BorgWarner stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $32.15, for a total value of $1,144,636.45. Following the completion of the sale, the chief accounting officer now directly owns 83,348 shares in the company, valued at $2,679,638.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Volker Weng sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $32.85, for a total value of $657,000.00. Following the completion of the sale, the vice president now owns 111,964 shares of the company’s stock, valued at $3,678,017.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 287,503 shares of company stock valued at $9,015,478. Insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On BorgWarner

Hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. raised its stake in BorgWarner by 15.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 17,583 shares of the auto parts company’s stock valued at $710,000 after purchasing an additional 2,323 shares in the last quarter. Xponance Inc. lifted its holdings in shares of BorgWarner by 5.3% during the 3rd quarter. Xponance Inc. now owns 39,659 shares of the auto parts company’s stock worth $1,601,000 after acquiring an additional 2,006 shares during the period. Raymond James & Associates boosted its position in shares of BorgWarner by 4.7% during the 3rd quarter. Raymond James & Associates now owns 459,318 shares of the auto parts company’s stock worth $18,543,000 after acquiring an additional 20,536 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in BorgWarner by 2.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 64,887 shares of the auto parts company’s stock valued at $2,619,000 after acquiring an additional 1,339 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in BorgWarner by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 2,166,308 shares of the auto parts company’s stock valued at $87,454,000 after purchasing an additional 76,659 shares in the last quarter. Institutional investors own 95.67% of the company’s stock.

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.