Mitsubishi UFJ Asset Management Co. Ltd. Purchases 4,720 Shares of BorgWarner Inc. (NYSE:BWA)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in BorgWarner Inc. (NYSE:BWAFree Report) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 232,571 shares of the auto parts company’s stock after purchasing an additional 4,720 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.10% of BorgWarner worth $7,914,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Psagot Value Holdings Ltd. Israel increased its position in shares of BorgWarner by 16.7% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 7,000 shares of the auto parts company’s stock valued at $252,000 after buying an additional 1,000 shares during the period. Avantax Advisory Services Inc. grew its stake in BorgWarner by 5.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 23,135 shares of the auto parts company’s stock valued at $829,000 after acquiring an additional 1,225 shares in the last quarter. QRG Capital Management Inc. increased its holdings in BorgWarner by 3.3% during the 4th quarter. QRG Capital Management Inc. now owns 175,734 shares of the auto parts company’s stock worth $6,300,000 after acquiring an additional 5,551 shares during the period. AGF Management Ltd. purchased a new stake in BorgWarner in the 4th quarter worth approximately $464,000. Finally, Mount Lucas Management LP boosted its holdings in BorgWarner by 0.8% in the 4th quarter. Mount Lucas Management LP now owns 43,696 shares of the auto parts company’s stock valued at $1,567,000 after purchasing an additional 354 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Oppenheimer upped their price target on shares of BorgWarner from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Barclays upped their price objective on shares of BorgWarner from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Piper Sandler started coverage on shares of BorgWarner in a research report on Friday, March 15th. They set an “overweight” rating and a $43.00 target price for the company. Citigroup boosted their price target on shares of BorgWarner from $33.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of BorgWarner from $59.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.76.

Read Our Latest Research Report on BorgWarner

BorgWarner Stock Performance

Shares of BWA stock opened at $37.09 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.54. BorgWarner Inc. has a fifty-two week low of $29.51 and a fifty-two week high of $50.04. The company has a market capitalization of $8.45 billion, a P/E ratio of 14.05, a PEG ratio of 1.20 and a beta of 1.30. The stock has a 50 day moving average price of $34.33 and a two-hundred day moving average price of $33.69.

BorgWarner (NYSE:BWAGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The auto parts company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.16. BorgWarner had a net margin of 4.02% and a return on equity of 15.33%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the business posted $1.09 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. Analysts expect that BorgWarner Inc. will post 4.05 earnings per share for the current year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued 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 yield of 1.19%. BorgWarner’s dividend payout ratio is presently 16.67%.

BorgWarner declared that its Board of Directors has initiated 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 buy up to 6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at BorgWarner

In other news, VP Stefan Demmerle sold 3,000 shares of BorgWarner stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total value of $99,000.00. Following the sale, the vice president now directly owns 249,013 shares in the company, valued at approximately $8,217,429. The sale was disclosed in a filing with the SEC, which is available through this link. In other BorgWarner news, VP Stefan Demmerle sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $33.00, for a total value of $99,000.00. Following the completion of the transaction, the vice president now directly owns 249,013 shares in the company, valued at approximately $8,217,429. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Volker Weng sold 20,000 shares of BorgWarner stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $32.85, for a total transaction of $657,000.00. Following the sale, the vice president now directly owns 111,964 shares in the company, valued at approximately $3,678,017.40. The disclosure for this sale can be found here. Insiders sold 26,000 shares of company stock valued at $849,870 in the last 90 days. Insiders own 0.45% of the company’s stock.

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.

See Also

Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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