BorgWarner (NYSE:BWA) Price Target Raised to $45.00

BorgWarner (NYSE:BWA) had its target price raised by Barclays from $44.00 to $45.00 in a research report released on Monday, Benzinga reports. They currently have an overweight rating on the auto parts company’s stock.

A number of other research analysts also recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of BorgWarner from $38.00 to $34.00 and set a neutral rating on the stock in a research note on Friday, February 9th. TheStreet downgraded BorgWarner from a b- rating to a c+ rating in a research note on Thursday, February 8th. Oppenheimer upped their price objective on BorgWarner from $39.00 to $40.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Piper Sandler began coverage on BorgWarner in a research report on Friday, March 15th. They issued an overweight rating and a $43.00 target price for the company. Finally, Wells Fargo & Company boosted their price target on BorgWarner from $43.00 to $45.00 and gave the company an overweight rating in a report on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BorgWarner presently has a consensus rating of Moderate Buy and an average price target of $43.76.

BorgWarner Stock Up 2.0 %

Shares of NYSE BWA opened at $37.52 on Monday. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.08 and a beta of 1.30. BorgWarner has a 1 year low of $29.51 and a 1 year high of $50.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.54. The stock’s 50-day simple moving average is $33.49 and its 200-day simple moving average is $33.70.

BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.16. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.51 billion. BorgWarner had a return on equity of 15.33% and a net margin of 4.02%. BorgWarner’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 EPS. As a group, equities analysts anticipate that BorgWarner will post 3.94 earnings per share for the current fiscal year.

BorgWarner declared that its board has approved a stock repurchase program on Thursday, May 2nd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the auto parts company to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

BorgWarner Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a $0.11 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.44 annualized dividend and a yield of 1.17%. BorgWarner’s dividend payout ratio is presently 16.67%.

Insider Buying and Selling at BorgWarner

In other news, CEO Frederic Lissalde sold 225,900 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $31.08, for a total transaction of $7,020,972.00. Following the completion of the transaction, the chief executive officer now directly owns 455,227 shares in the company, valued at $14,148,455.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Frederic Lissalde sold 225,900 shares of BorgWarner stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $31.08, for a total transaction of $7,020,972.00. Following the sale, the chief executive officer now directly owns 455,227 shares in the company, valued at $14,148,455.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Tonit M. Calaway sold 35,603 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $32.15, for a total transaction of $1,144,636.45. Following the completion of the sale, the chief accounting officer now directly owns 83,348 shares of the company’s stock, valued at approximately $2,679,638.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 287,503 shares of company stock worth $9,015,478. 0.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On BorgWarner

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of BorgWarner in the 4th quarter worth $75,489,000. Boston Partners raised its position in BorgWarner by 58.9% in the third quarter. Boston Partners now owns 5,267,500 shares of the auto parts company’s stock worth $211,762,000 after acquiring an additional 1,951,783 shares in the last quarter. Invesco Ltd. lifted its holdings in BorgWarner by 30.4% in the 3rd quarter. Invesco Ltd. now owns 4,399,084 shares of the auto parts company’s stock valued at $177,591,000 after acquiring an additional 1,024,361 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of BorgWarner by 10.9% during the 4th quarter. Victory Capital Management Inc. now owns 9,668,438 shares of the auto parts company’s stock valued at $346,614,000 after purchasing an additional 948,659 shares in the last quarter. Finally, Ninety One UK Ltd grew its stake in shares of BorgWarner by 85.1% in the 4th quarter. Ninety One UK Ltd now owns 1,656,221 shares of the auto parts company’s stock worth $59,376,000 after purchasing an additional 761,250 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

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.