BorgWarner (NYSE:BWA) Rating Increased to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of BorgWarner (NYSE:BWA) from a neutral rating to a buy rating in a report released on Thursday morning, MarketBeat reports. They currently have $34.00 price objective on the auto parts company’s stock, up from their prior price objective of $31.00.

Several other research analysts have also recently issued reports on the stock. TD Cowen cut shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a report on Friday, March 7th. Guggenheim set a $38.00 price target on BorgWarner in a research note on Wednesday, March 5th. Barclays dropped their price objective on BorgWarner from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. JPMorgan Chase & Co. decreased their target price on BorgWarner from $51.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Finally, Piper Sandler dropped their price target on shares of BorgWarner from $43.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.56.

BorgWarner Stock Up 2.1 %

Shares of BorgWarner stock opened at $26.22 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45. BorgWarner has a 1-year low of $24.40 and a 1-year high of $38.23. The business’s fifty day moving average price is $28.75 and its two-hundred day moving average price is $31.89. The company has a market capitalization of $5.76 billion, a P/E ratio of 18.33, a PEG ratio of 0.77 and a beta of 1.12.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, February 6th. The auto parts company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. As a group, research analysts forecast that BorgWarner will post 4.28 EPS for the current year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.68%. BorgWarner’s dividend payout ratio is 30.77%.

Insider Buying and Selling

In other news, CAO Tonit M. Calaway sold 8,300 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $30.07, for a total value of $249,581.00. Following the completion of the sale, the chief accounting officer now directly owns 242,257 shares of the company’s stock, valued at $7,284,667.99. This represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tania Wingfield sold 24,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total transaction of $690,960.00. Following the transaction, the executive vice president now directly owns 39,110 shares in the company, valued at $1,125,976.90. The trade was a 38.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,800 shares of company stock valued at $1,347,701. Corporate insiders own 0.45% of the company’s stock.

Institutional Trading of BorgWarner

Several hedge funds and other institutional investors have recently modified their holdings of BWA. LRI Investments LLC increased its position in BorgWarner by 1,515.0% in the 4th quarter. LRI Investments LLC now owns 969 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 909 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in BorgWarner during the fourth quarter valued at approximately $45,000. Avior Wealth Management LLC lifted its stake in BorgWarner by 31.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company’s stock valued at $46,000 after acquiring an additional 342 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in BorgWarner in the fourth quarter worth approximately $48,000. Finally, Versant Capital Management Inc increased its stake in shares of BorgWarner by 448.5% during the 1st quarter. Versant Capital Management Inc now owns 1,810 shares of the auto parts company’s stock worth $52,000 after purchasing an additional 1,480 shares during the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

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.