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

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

A number of other equities research analysts also recently issued reports on the company. BNP Paribas upgraded BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research report on Tuesday, March 18th. Guggenheim reduced their target price on BorgWarner from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group raised BorgWarner from a “neutral” rating to a “buy” rating and raised their price target for the company from $31.00 to $34.00 in a report on Thursday, April 10th. Barclays cut their price objective on BorgWarner from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Finally, TD Cowen downgraded shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a research note on Friday, March 7th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.47.

BorgWarner Trading Up 1.4%

Shares of BorgWarner stock opened at $33.29 on Monday. The company’s 50-day moving average price is $30.78 and its 200-day moving average price is $30.72. The company has a current ratio of 1.97, a quick ratio of 1.60 and a debt-to-equity ratio of 0.65. BorgWarner has a 12-month low of $24.40 and a 12-month high of $37.29. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.44 and a beta of 1.10.

BorgWarner (NYSE:BWA) last posted its earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $3.39 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. BorgWarner’s revenue was down 2.2% on a year-over-year basis. On average, equities analysts expect that BorgWarner will post 4.28 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Tonit M. Calaway sold 27,736 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $32.83, for a total transaction of $910,572.88. Following the transaction, the executive vice president now directly owns 214,521 shares in the company, valued at $7,042,724.43. This trade represents a 11.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Isabelle Mckenzie sold 5,000 shares of BorgWarner stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $33.25, for a total value of $166,250.00. Following the completion of the transaction, the vice president now directly owns 63,445 shares in the company, valued at $2,109,546.25. This trade represents a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BWA. Global X Japan Co. Ltd. increased 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 purchasing an additional 523 shares during the period. Manchester Capital Management LLC purchased a new position in shares of BorgWarner during the first quarter valued at approximately $30,000. LRI Investments LLC raised its holdings in shares of BorgWarner by 1,515.0% during the fourth quarter. LRI Investments LLC now owns 969 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 909 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in BorgWarner by 63.5% in the first quarter. Meeder Asset Management Inc. now owns 1,388 shares of the auto parts company’s stock worth $40,000 after acquiring an additional 539 shares during the period. Finally, Allworth Financial LP lifted its position in shares of BorgWarner by 123.1% in the 1st quarter. Allworth Financial LP now owns 1,437 shares of the auto parts company’s stock worth $41,000 after purchasing an additional 793 shares during the period. Institutional investors own 95.67% of the company’s stock.

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.