TD Cowen Raises BorgWarner (NYSE:BWA) Price Target to $40.00

BorgWarner (NYSE:BWA) had its target price raised by TD Cowen from $36.00 to $40.00 in a report published on Friday, Benzinga reports. TD Cowen currently has a buy rating on the auto parts company’s stock.

A number of other research firms have also recently commented on BWA. Barclays lifted their price target on shares of BorgWarner from $40.00 to $44.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. The Goldman Sachs Group reduced their price target on BorgWarner from $38.00 to $34.00 and set a neutral rating on the stock in a report on Friday, February 9th. TheStreet lowered BorgWarner from a b- rating to a c+ rating in a research note on Thursday, February 8th. Piper Sandler assumed coverage on BorgWarner in a research report on Friday, March 15th. They issued an overweight rating and a $43.00 price objective on the stock. Finally, Oppenheimer upped their price target on shares of BorgWarner from $39.00 to $40.00 and gave the stock an outperform rating in a report on Friday. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $43.93.

BorgWarner Trading Up 2.3 %

Shares of BWA stock opened at $36.44 on Friday. The company has a market cap of $8.37 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.09 and a beta of 1.30. BorgWarner has a 1 year low of $29.51 and a 1 year high of $50.04. The stock’s 50 day simple moving average is $33.10 and its two-hundred day simple moving average is $33.69. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 1.30.

BorgWarner (NYSE:BWA) last released its earnings results on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.16. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.51 billion. BorgWarner had a return on equity of 15.33% and a net margin of 4.02%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. Research analysts predict that BorgWarner will post 3.94 earnings per share for the current year.

BorgWarner Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 1.21%. BorgWarner’s dividend payout ratio is currently 16.67%.

Insider Buying and Selling at BorgWarner

In related news, CAO Tonit M. Calaway sold 35,603 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $32.15, for a total transaction of $1,144,636.45. Following the completion of the sale, the chief accounting officer now directly owns 83,348 shares in the company, valued at approximately $2,679,638.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Tonit M. Calaway sold 35,603 shares of BorgWarner stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $32.15, for a total value of $1,144,636.45. Following the transaction, the chief accounting officer now owns 83,348 shares of the company’s stock, valued at approximately $2,679,638.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frederic Lissalde sold 225,900 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $31.08, for a total transaction of $7,020,972.00. Following the sale, the chief executive officer now directly owns 455,227 shares of the company’s stock, valued at approximately $14,148,455.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 287,503 shares of company stock valued at $9,015,478. 0.45% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in shares of BorgWarner during the third quarter worth about $28,000. EdgeRock Capital LLC acquired a new position in BorgWarner during the 4th quarter valued at approximately $30,000. Riverview Trust Co purchased a new position in shares of BorgWarner in the first quarter worth $30,000. Sound Income Strategies LLC acquired a new stake in shares of BorgWarner during the fourth quarter worth $32,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of BorgWarner during the fourth quarter valued at $33,000. 95.67% of the stock is owned by institutional investors and hedge funds.

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.