Shufro Rose & Co. LLC Boosts Stock Position in BorgWarner Inc. (NYSE:BWA)

Shufro Rose & Co. LLC grew its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 63.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,424 shares of the auto parts company’s stock after buying an additional 4,041 shares during the quarter. Shufro Rose & Co. LLC’s holdings in BorgWarner were worth $299,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Global X Japan Co. Ltd. grew 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 worth $26,000 after acquiring an additional 523 shares in the last quarter. LRI Investments LLC grew its stake in BorgWarner by 1,515.0% in the fourth quarter. LRI Investments LLC now owns 969 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 909 shares in the last quarter. Meeder Asset Management Inc. increased its holdings 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 valued at $40,000 after buying an additional 539 shares during the last quarter. Allworth Financial LP raised its stake in BorgWarner by 123.1% during the first quarter. Allworth Financial LP now owns 1,437 shares of the auto parts company’s stock valued at $41,000 after buying an additional 793 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new stake in BorgWarner during the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 95.67% of the company’s stock.

BorgWarner Price Performance

Shares of NYSE:BWA opened at $37.51 on Friday. The company has a market cap of $8.24 billion, a P/E ratio of 39.90, a price-to-earnings-growth ratio of 1.71 and a beta of 1.09. The company’s fifty day moving average is $34.25 and its two-hundred day moving average is $31.22. The company has a quick ratio of 1.60, a current ratio of 2.02 and a debt-to-equity ratio of 0.64. BorgWarner Inc. has a 12-month low of $24.40 and a 12-month high of $37.57.

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

BorgWarner announced that its board has initiated a stock repurchase program on Thursday, July 31st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the auto parts company to purchase up to 13.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

BorgWarner Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.8%. This is a positive change from BorgWarner’s previous quarterly dividend of $0.11. BorgWarner’s dividend payout ratio (DPR) is presently 46.81%.

Insider Activity at BorgWarner

In other news, VP Isabelle Mckenzie sold 5,000 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $33.25, for a total transaction of $166,250.00. Following the transaction, the vice president owned 63,445 shares in the company, valued at $2,109,546.25. This represents a 7.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tonit M. Calaway sold 27,736 shares of the company’s stock in a transaction 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 sale, the executive vice president directly owned 214,521 shares of the company’s stock, valued at approximately $7,042,724.43. This represents a 11.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BWA has been the topic of several research analyst reports. Guggenheim reduced their price objective on BorgWarner from $38.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Barclays reaffirmed an “overweight” rating and issued a $45.00 price target (up from $42.00) on shares of BorgWarner in a report on Wednesday, July 16th. UBS Group boosted their price objective on shares of BorgWarner from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Robert W. Baird raised their target price on shares of BorgWarner from $32.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. Finally, Piper Sandler upped their target price on BorgWarner from $37.00 to $44.00 and gave the company an “overweight” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.64.

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.