Oppenheimer & Co. Inc. lowered its holdings in BorgWarner Inc. (NYSE:BWA – Free Report) by 58.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,866 shares of the auto parts company’s stock after selling 10,935 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in BorgWarner were worth $473,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Clearstead Trust LLC acquired a new stake in shares of BorgWarner in the second quarter valued at $28,000. Ceredex Value Advisors LLC bought a new position in shares of BorgWarner in the second quarter valued at about $40,000. Fiduciary Financial Advisors acquired a new position in BorgWarner during the 2nd quarter worth about $49,000. Cedar Mountain Advisors LLC bought a new stake in BorgWarner during the 1st quarter worth about $55,000. Finally, Jones Financial Companies Lllp bought a new stake in BorgWarner during the 2nd quarter worth about $57,000. Institutional investors own 95.67% of the company’s stock.
Insider Activity at BorgWarner
In related news, CAO Amy Kulikowski sold 2,900 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $68.60, for a total value of $198,940.00. Following the completion of the sale, the chief accounting officer owned 9,725 shares in the company, valued at approximately $667,135. This represents a 22.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Rajesh Kalathur bought 7,407 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $67.59 per share, for a total transaction of $500,639.13. Following the purchase, the director directly owned 7,407 shares of the company’s stock, valued at approximately $500,639.13. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.76% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of equities analysts have weighed in on BWA shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BorgWarner in a research note on Friday, September 25th. Wall Street Zen raised shares of BorgWarner from a “hold” rating to a “buy” rating in a research note on Sunday, November 1st. Barclays lowered their price target on shares of BorgWarner from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Monday. TD Cowen dropped their price objective on shares of BorgWarner from $68.00 to $67.00 and set a “hold” rating for the company in a research report on Friday, October 30th. Finally, UBS Group reduced their price objective on BorgWarner from $95.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, October 7th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, BorgWarner currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.
Check Out Our Latest Research Report on BorgWarner
BorgWarner Price Performance
Shares of BWA stock opened at $47.50 on Friday. The firm’s 50 day moving average price is $60.10 and its two-hundred day moving average price is $60.58. The stock has a market cap of $9.54 billion, a PE ratio of 20.21, a PEG ratio of 0.71 and a beta of 1.20. BorgWarner Inc. has a 52-week low of $40.73 and a 52-week high of $78.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 1.41.
BorgWarner (NYSE:BWA – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The auto parts company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.14. BorgWarner had a return on equity of 19.61% and a net margin of 3.36%. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the business posted $1.24 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, analysts forecast that BorgWarner Inc. will post 5.27 EPS for the current year.
BorgWarner declared that its board has authorized a stock repurchase program on Wednesday, August 5th that permits the company to buy back $1 billion in outstanding shares. This buyback authorization permits the auto parts company to purchase up to 7.7% of its stock through open market purchases. Share buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
BorgWarner Profile
BorgWarner Inc (NYSE:BWA) is a global automotive technology company that develops and manufactures propulsion and mobility systems for vehicle manufacturers and commercial vehicle customers. The company serves both internal-combustion and electrified vehicle markets, with a portfolio focused on improving vehicle efficiency, performance, emissions, and electrification.
Its products and technologies include turbochargers, emissions and thermal-management systems, transmission components, friction products, battery systems, battery charging equipment, power electronics, electric motors, and other electric-drive components.
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