Lecap Asset Management Ltd. Sells 23,139 Shares of BorgWarner Inc. $BWA

Lecap Asset Management Ltd. trimmed its stake in shares of BorgWarner Inc. (NYSE:BWA) by 50.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 22,899 shares of the auto parts company’s stock after selling 23,139 shares during the quarter. Lecap Asset Management Ltd.’s holdings in BorgWarner were worth $767,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of BWA. Dimensional Fund Advisors LP boosted its stake in shares of BorgWarner by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 11,568,627 shares of the auto parts company’s stock valued at $331,429,000 after purchasing an additional 284,587 shares during the period. LSV Asset Management raised its holdings in BorgWarner by 36.7% during the 1st quarter. LSV Asset Management now owns 5,889,080 shares of the auto parts company’s stock valued at $168,722,000 after buying an additional 1,580,935 shares during the last quarter. American Century Companies Inc. boosted its position in BorgWarner by 1.7% during the 1st quarter. American Century Companies Inc. now owns 3,716,576 shares of the auto parts company’s stock valued at $106,480,000 after buying an additional 60,382 shares during the period. Swedbank AB grew its holdings in BorgWarner by 23.3% in the 2nd quarter. Swedbank AB now owns 2,558,425 shares of the auto parts company’s stock worth $85,656,000 after acquiring an additional 482,969 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of BorgWarner by 144.7% in the first quarter. Millennium Management LLC now owns 2,009,744 shares of the auto parts company’s stock valued at $57,579,000 after acquiring an additional 1,188,466 shares during the period. 95.67% of the stock is owned by hedge funds and other institutional investors.

BorgWarner Trading Up 0.2%

NYSE BWA opened at $44.37 on Friday. The firm has a market capitalization of $9.60 billion, a PE ratio of 47.20, a P/E/G ratio of 1.46 and a beta of 1.09. The stock’s 50 day moving average is $41.73 and its 200 day moving average is $34.89. BorgWarner Inc. has a twelve month low of $24.40 and a twelve month high of $44.70. The company has a quick ratio of 1.66, a current ratio of 2.02 and a debt-to-equity ratio of 0.64.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, July 31st. The auto parts company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.06 by $0.15. BorgWarner had a return on equity of 16.17% and a net margin of 1.50%.The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter last year, the firm posted $1.19 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. BorgWarner has set its FY 2025 guidance at 4.450-4.65 EPS. Research analysts forecast that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from BorgWarner’s previous quarterly dividend of $0.11. This represents a $0.68 annualized dividend and a yield of 1.5%. BorgWarner’s payout ratio is presently 72.34%.

BorgWarner declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 31st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the auto parts company to repurchase up to 13.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BWA. Bank of America lowered shares of BorgWarner from a “buy” rating to a “neutral” rating and increased their target price for the stock from $41.00 to $46.00 in a report on Wednesday, September 10th. Robert W. Baird raised BorgWarner from a “neutral” rating to an “outperform” rating and upped their price target for the company from $41.00 to $52.00 in a research report on Wednesday, September 3rd. The Goldman Sachs Group lifted their price objective on BorgWarner from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday. Barclays restated an “overweight” rating and set a $45.00 target price (up previously from $42.00) on shares of BorgWarner in a report on Wednesday, July 16th. Finally, Evercore ISI lifted their price target on shares of BorgWarner from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.79.

Insiders Place Their Bets

In related news, Director Alexis P. Michas sold 8,772 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $42.31, for a total value of $371,143.32. Following the sale, the director owned 78,903 shares in the company, valued at $3,338,385.93. This represents a 10.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Stefan Demmerle sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $40.50, for a total value of $202,500.00. Following the transaction, the vice president directly owned 229,040 shares of the company’s stock, valued at approximately $9,276,120. This trade represents a 2.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,272 shares of company stock worth $1,263,318. 0.45% of the stock is currently owned by company insiders.

BorgWarner 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.