Allworth Financial LP Acquires 793 Shares of BorgWarner Inc. (NYSE:BWA)

Allworth Financial LP lifted its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 123.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,437 shares of the auto parts company’s stock after purchasing an additional 793 shares during the quarter. Allworth Financial LP’s holdings in BorgWarner were worth $41,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. MainStreet Investment Advisors LLC raised its holdings in BorgWarner by 13.8% during the 1st quarter. MainStreet Investment Advisors LLC now owns 7,676 shares of the auto parts company’s stock worth $220,000 after buying an additional 930 shares during the period. Nisa Investment Advisors LLC increased its position in shares of BorgWarner by 12.3% during the first quarter. Nisa Investment Advisors LLC now owns 78,955 shares of the auto parts company’s stock worth $2,262,000 after acquiring an additional 8,624 shares in the last quarter. Twelve Points Wealth Management LLC raised its holdings in shares of BorgWarner by 14.4% during the first quarter. Twelve Points Wealth Management LLC now owns 62,069 shares of the auto parts company’s stock worth $1,778,000 after acquiring an additional 7,825 shares during the period. Blackhawk Capital Partners LLC. lifted its position in BorgWarner by 20.2% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 10,598 shares of the auto parts company’s stock valued at $304,000 after acquiring an additional 1,779 shares in the last quarter. Finally, Brown Advisory Inc. bought a new stake in BorgWarner in the 1st quarter valued at $522,000. Institutional investors own 95.67% of the company’s stock.

Insiders Place Their Bets

In other BorgWarner news, VP Isabelle Mckenzie sold 5,000 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $33.25, for a total transaction of $166,250.00. Following the completion of the sale, the vice president owned 63,445 shares of the company’s stock, valued at $2,109,546.25. This trade represents a 7.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Tonit M. Calaway sold 27,736 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $32.83, for a total transaction of $910,572.88. Following the completion of the transaction, the executive vice president owned 214,521 shares in the company, valued at approximately $7,042,724.43. This represents a 11.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on BWA shares. Wall Street Zen raised BorgWarner from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 12th. The Goldman Sachs Group upgraded BorgWarner from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $31.00 to $34.00 in a report on Thursday, April 10th. Wells Fargo & Company boosted their target price on BorgWarner from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. UBS Group upped their price target on BorgWarner from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $37.00 price objective (up from $36.00) on shares of BorgWarner in a report on Thursday, May 22nd. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, BorgWarner currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.07.

BorgWarner Stock Performance

Shares of BWA opened at $34.99 on Friday. The company has a market cap of $7.69 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 1.56 and a beta of 1.09. The firm has a 50-day moving average of $33.67 and a 200-day moving average of $30.93. BorgWarner Inc. has a one year low of $24.40 and a one year high of $37.29. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.97 and a quick ratio of 1.60.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Wednesday, May 7th. The auto parts company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.13. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.39 billion. BorgWarner had a return on equity of 16.13% and a net margin of 2.06%. BorgWarner’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company posted $1.03 earnings per share. As a group, equities analysts forecast that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.26%. BorgWarner’s payout ratio is presently 35.20%.

BorgWarner 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.