BorgWarner Inc. (NYSE:BWA) Shares Bought by Citigroup Inc.

Citigroup Inc. raised its position in shares of BorgWarner Inc. (NYSE:BWA) by 112.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 525,135 shares of the auto parts company’s stock after buying an additional 277,532 shares during the period. Citigroup Inc. owned about 0.24% of BorgWarner worth $15,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of BWA. Global X Japan Co. Ltd. boosted its holdings in BorgWarner by 133.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 915 shares of the auto parts company’s stock valued at $26,000 after acquiring an additional 523 shares during the period. Manchester Capital Management LLC purchased a new position in shares of BorgWarner in the first quarter valued at approximately $30,000. LRI Investments LLC grew its holdings in shares of BorgWarner by 1,515.0% in the fourth quarter. LRI Investments LLC now owns 969 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 909 shares in the last quarter. Meeder Asset Management Inc. increased its stake in BorgWarner by 63.5% during the 1st quarter. Meeder Asset Management Inc. now owns 1,388 shares of the auto parts company’s stock worth $40,000 after buying an additional 539 shares during the period. Finally, Allworth Financial LP lifted its holdings in BorgWarner by 123.1% during the 1st quarter. Allworth Financial LP now owns 1,437 shares of the auto parts company’s stock worth $41,000 after buying an additional 793 shares in the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on BWA. Wall Street Zen upgraded shares of BorgWarner from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 12th. Piper Sandler boosted their target price on BorgWarner from $37.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Barclays reiterated an “overweight” rating and issued a $45.00 price objective (up previously from $42.00) on shares of BorgWarner in a research note on Wednesday, July 16th. UBS Group boosted their price objective on BorgWarner from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Finally, Robert W. Baird raised their target price on shares of BorgWarner from $32.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, July 11th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, BorgWarner currently has a consensus rating of “Moderate Buy” and an average price target of $39.64.

Insider Buying and Selling

In other news, VP Isabelle Mckenzie sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $40.01, for a total value of $100,025.00. Following the completion of the sale, the vice president directly owned 55,945 shares of the company’s stock, valued at approximately $2,238,359.45. This represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stefan Demmerle sold 5,000 shares of BorgWarner stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $40.50, for a total transaction of $202,500.00. Following the completion of the transaction, the vice president directly owned 229,040 shares in the company, valued at $9,276,120. The trade was a 2.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,500 shares of company stock valued at $892,175. 0.45% of the stock is owned by company insiders.

BorgWarner Trading Down 0.3%

Shares of BorgWarner stock opened at $41.45 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.66 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $35.40 and a 200-day simple moving average of $31.64. The stock has a market cap of $8.97 billion, a price-to-earnings ratio of 44.09, a PEG ratio of 1.26 and a beta of 1.10. BorgWarner Inc. has a 12-month low of $24.40 and a 12-month high of $41.67.

BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, July 31st. The auto parts company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.15. BorgWarner had a net margin of 1.50% and a return on equity of 16.17%. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the prior year, the firm posted $1.19 earnings per share. BorgWarner’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts forecast that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. This is a boost from BorgWarner’s previous quarterly dividend of $0.11. BorgWarner’s payout ratio is currently 46.81%.

BorgWarner declared that its board has initiated a share buyback program on Thursday, July 31st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the auto parts company to buy up to 13.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.