BorgWarner (NYSE:BWA) Price Target Raised to $40.00 at Oppenheimer

BorgWarner (NYSE:BWA) had its target price increased by Oppenheimer from $39.00 to $40.00 in a research report released on Friday, Benzinga reports. The firm currently has an outperform rating on the auto parts company’s stock.

Several other analysts also recently weighed in on BWA. Piper Sandler assumed coverage on BorgWarner in a research note on Friday, March 15th. They set an overweight rating and a $43.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of BorgWarner from $59.00 to $52.00 and set an overweight rating on the stock in a research report on Thursday, January 25th. Robert W. Baird upped their price target on shares of BorgWarner from $36.00 to $40.00 and gave the company a neutral rating in a report on Friday. TheStreet cut shares of BorgWarner from a b- rating to a c+ rating in a research note on Thursday, February 8th. Finally, StockNews.com lowered shares of BorgWarner from a buy rating to a hold rating in a research note on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $43.93.

BorgWarner Stock Performance

BWA stock traded up $0.81 during mid-day trading on Friday, reaching $36.44. The company had a trading volume of 4,825,565 shares, compared to its average volume of 2,527,433. The stock’s 50-day simple moving average is $33.10 and its two-hundred day simple moving average is $33.76. The stock has a market capitalization of $8.37 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.07 and a beta of 1.30. The company has a quick ratio of 1.30, a current ratio of 1.54 and a debt-to-equity ratio of 0.55. BorgWarner has a one year low of $29.51 and a one year high of $50.04.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data 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. BorgWarner had a net margin of 4.02% and a return on equity of 15.33%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period last year, the firm posted $1.09 EPS. BorgWarner’s quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts anticipate that BorgWarner will post 3.9 EPS for the current year.

BorgWarner Announces Dividend

The business also recently declared 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 of this dividend is Monday, June 3rd. This represents a $0.44 annualized dividend and a yield of 1.21%. BorgWarner’s dividend payout ratio (DPR) is presently 16.67%.

Insider Activity

In related news, VP Stefan Demmerle sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $33.00, for a total transaction of $99,000.00. Following the completion of the sale, the vice president now directly owns 249,013 shares of the company’s stock, valued at approximately $8,217,429. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other BorgWarner news, VP Volker Weng sold 20,000 shares of BorgWarner stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $32.85, for a total value of $657,000.00. Following the transaction, the vice president now directly owns 111,964 shares of the company’s stock, valued at approximately $3,678,017.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Stefan Demmerle sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total value of $99,000.00. Following the transaction, the vice president now owns 249,013 shares of the company’s stock, valued at $8,217,429. The disclosure for this sale can be found here. Insiders have sold a total of 287,503 shares of company stock valued at $9,015,478 over the last 90 days. 0.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BorgWarner

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in BorgWarner by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 27,147,545 shares of the auto parts company’s stock valued at $973,239,000 after purchasing an additional 331,401 shares during the period. Victory Capital Management Inc. raised its position in shares of BorgWarner by 10.9% during the fourth quarter. Victory Capital Management Inc. now owns 9,668,438 shares of the auto parts company’s stock valued at $346,614,000 after buying an additional 948,659 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of BorgWarner by 3.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 5,463,487 shares of the auto parts company’s stock valued at $220,561,000 after buying an additional 166,007 shares during the period. Boston Partners grew its position in BorgWarner by 58.9% during the third quarter. Boston Partners now owns 5,267,500 shares of the auto parts company’s stock worth $211,762,000 after buying an additional 1,951,783 shares in the last quarter. Finally, Invesco Ltd. increased its stake in BorgWarner by 30.4% during the third quarter. Invesco Ltd. now owns 4,399,084 shares of the auto parts company’s stock valued at $177,591,000 after acquiring an additional 1,024,361 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.