BorgWarner (NYSE:BWA) Price Target Raised to $41.00

BorgWarner (NYSE:BWA) had its price objective lifted by Bank of America from $35.00 to $41.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the auto parts company’s stock.

Several other analysts have also recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of BorgWarner from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Barclays reduced their price target on BorgWarner from $42.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Robert W. Baird increased their price target on BorgWarner from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Wall Street Zen raised BorgWarner from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Finally, Guggenheim reduced their target price on BorgWarner from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.47.

BorgWarner Price Performance

BorgWarner stock opened at $33.29 on Monday. The company has a market capitalization of $7.31 billion, a PE ratio of 26.63, a P/E/G ratio of 1.44 and a beta of 1.10. The company has a current ratio of 1.97, a quick ratio of 1.60 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average price of $30.78 and a two-hundred day moving average price of $30.72. BorgWarner has a 12 month low of $24.40 and a 12 month high of $37.29.

BorgWarner (NYSE:BWA) last posted its earnings results on Wednesday, May 7th. The auto parts company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.98 by $0.13. BorgWarner had a net margin of 2.06% and a return on equity of 16.13%. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the company earned $1.03 EPS. The firm’s revenue was down 2.2% compared to the same quarter last year. Analysts expect that BorgWarner will post 4.28 EPS for the current year.

BorgWarner Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.32%. BorgWarner’s dividend payout ratio (DPR) is currently 35.20%.

Insider Activity

In other BorgWarner news, 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 transaction, the executive vice president now owns 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Isabelle Mckenzie sold 5,000 shares of BorgWarner stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $33.25, for a total value of $166,250.00. Following the transaction, the vice president now owns 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 disclosure for this sale can be found here. Company insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in BorgWarner by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 11,568,627 shares of the auto parts company’s stock valued at $331,429,000 after purchasing an additional 284,587 shares during the last quarter. Invesco Ltd. raised its position in shares of BorgWarner by 10.2% in the fourth quarter. Invesco Ltd. now owns 6,795,020 shares of the auto parts company’s stock valued at $216,014,000 after purchasing an additional 628,930 shares during the period. Alliancebernstein L.P. lifted its stake in shares of BorgWarner by 6.8% during the 4th quarter. Alliancebernstein L.P. now owns 5,981,196 shares of the auto parts company’s stock valued at $190,142,000 after buying an additional 381,504 shares in the last quarter. LSV Asset Management lifted its stake in shares of BorgWarner by 36.7% during the 1st quarter. LSV Asset Management now owns 5,889,080 shares of the auto parts company’s stock valued at $168,722,000 after buying an additional 1,580,935 shares in the last quarter. Finally, Turtle Creek Asset Management Inc. boosted its holdings in BorgWarner by 7.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 4,078,780 shares of the auto parts company’s stock worth $129,664,000 after buying an additional 267,250 shares during the period. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

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.