BorgWarner Inc. $BWA Shares Sold by Huntington National Bank

Huntington National Bank cut its stake in shares of BorgWarner Inc. (NYSE:BWA) by 39.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,807 shares of the auto parts company’s stock after selling 1,181 shares during the period. Huntington National Bank’s holdings in BorgWarner were worth $60,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. LSV Asset Management increased its holdings in shares of BorgWarner by 36.7% in the first quarter. LSV Asset Management now owns 5,889,080 shares of the auto parts company’s stock valued at $168,722,000 after purchasing an additional 1,580,935 shares during the period. Millennium Management LLC increased its stake in shares of BorgWarner by 144.7% during the first quarter. Millennium Management LLC now owns 2,009,744 shares of the auto parts company’s stock worth $57,579,000 after acquiring an additional 1,188,466 shares during the period. Leith Wheeler Investment Counsel Ltd. purchased a new stake in BorgWarner in the 1st quarter valued at approximately $28,989,000. Public Sector Pension Investment Board increased its position in BorgWarner by 1,121.2% during the 1st quarter. Public Sector Pension Investment Board now owns 693,551 shares of the auto parts company’s stock worth $19,870,000 after purchasing an additional 636,757 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in BorgWarner during the 1st quarter worth approximately $16,488,000. 95.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Alexis P. Michas sold 8,772 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $42.31, for a total value of $371,143.32. Following the completion of the transaction, the director directly owned 78,903 shares of the company’s stock, valued at $3,338,385.93. The trade was a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Isabelle Mckenzie sold 3,200 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $44.23, for a total value of $141,536.00. Following the sale, the vice president directly owned 43,555 shares in the company, valued at approximately $1,926,437.65. The trade was a 6.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 34,472 shares of company stock valued at $1,404,854. Corporate insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on BWA shares. Evercore ISI lifted their price target on BorgWarner from $42.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Barclays raised their target price on BorgWarner from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, October 10th. JPMorgan Chase & Co. upped their price target on shares of BorgWarner from $45.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Wells Fargo & Company raised their price objective on shares of BorgWarner from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Finally, Robert W. Baird set a $54.00 price objective on shares of BorgWarner in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.85.

BorgWarner Stock Performance

NYSE:BWA opened at $44.82 on Monday. 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 market capitalization of $9.59 billion, a P/E ratio of 47.68, a price-to-earnings-growth ratio of 1.58 and a beta of 1.06. The firm has a 50-day moving average price of $43.51 and a two-hundred day moving average price of $37.96. BorgWarner Inc. has a twelve month low of $24.40 and a twelve month high of $45.53.

BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, October 30th. The auto parts company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.16 by $0.08. BorgWarner had a net margin of 1.50% and a return on equity of 16.17%. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period in the prior year, the business earned $1.09 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. BorgWarner has set its FY 2025 guidance at 4.600-4.750 EPS. As a group, research analysts expect that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 31st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the auto parts company to reacquire up to 13.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board 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.