B.O.S.S. Retirement Advisors LLC acquired a new position in shares of BorgWarner Inc. (NYSE:BWA – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 36,655 shares of the auto parts company’s stock, valued at approximately $1,793,000.
Other hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC grew its holdings in shares of BorgWarner by 72.2% during the first quarter. Steward Partners Investment Advisory LLC now owns 816 shares of the auto parts company’s stock worth $40,000 after buying an additional 342 shares in the last quarter. AllSquare Wealth Management LLC acquired a new position in BorgWarner during the first quarter worth $43,000. Belpointe Asset Management LLC acquired a new position in BorgWarner during the fourth quarter worth $49,000. Newbridge Financial Services Group Inc. acquired a new position in BorgWarner during the first quarter worth $52,000. Finally, Harbour Investments Inc. raised its holdings in BorgWarner by 76.2% during the first quarter. Harbour Investments Inc. now owns 1,230 shares of the auto parts company’s stock worth $60,000 after acquiring an additional 532 shares in the last quarter. 92.35% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
BWA has been the topic of a number of recent analyst reports. Nomura downgraded shares of BorgWarner from a “buy” rating to a “neutral” rating and set a $44.00 target price on the stock. in a report on Thursday, August 17th. UBS Group started coverage on shares of BorgWarner in a report on Tuesday. They issued a “buy” rating and a $52.00 target price on the stock. Citigroup lifted their price target on BorgWarner from $43.98 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, July 18th. JPMorgan Chase & Co. dropped their price objective on BorgWarner from $59.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, July 20th. Finally, StockNews.com initiated coverage on BorgWarner in a research note on Sunday, September 10th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.64.
BorgWarner Stock Performance
Shares of BWA traded up $0.71 during midday trading on Friday, reaching $41.05. 3,815,285 shares of the stock were exchanged, compared to its average volume of 2,248,286. BorgWarner Inc. has a twelve month low of $31.14 and a twelve month high of $51.14. The company has a quick ratio of 1.18, a current ratio of 1.62 and a debt-to-equity ratio of 0.54. The company has a market cap of $9.65 billion, a P/E ratio of 10.14, a PEG ratio of 0.90 and a beta of 1.44. The stock’s 50 day simple moving average is $42.54 and its 200 day simple moving average is $45.52.
BorgWarner (NYSE:BWA – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The auto parts company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.21. BorgWarner had a return on equity of 15.45% and a net margin of 5.63%. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.39 billion. On average, sell-side analysts expect that BorgWarner Inc. will post 3.76 earnings per share for the current year.
BorgWarner Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.44 annualized dividend and a dividend yield of 1.07%. BorgWarner’s dividend payout ratio is presently 10.86%.
BorgWarner Inc 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, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging.
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