QRG Capital Management Inc. Acquires 13,908 Shares of BorgWarner Inc. $BWA

QRG Capital Management Inc. increased its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 22.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 75,234 shares of the auto parts company’s stock after purchasing an additional 13,908 shares during the quarter. QRG Capital Management Inc.’s holdings in BorgWarner were worth $2,519,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BWA. LSV Asset Management boosted its position in shares of BorgWarner by 36.7% in the 1st quarter. LSV Asset Management now owns 5,889,080 shares of the auto parts company’s stock worth $168,722,000 after purchasing an additional 1,580,935 shares during the last quarter. Millennium Management LLC lifted its stake in 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 buying an additional 1,188,466 shares during the period. Leith Wheeler Investment Counsel Ltd. acquired a new position in BorgWarner in the first quarter valued at about $28,989,000. Principal Financial Group Inc. increased its stake in shares of BorgWarner by 338.5% in the 1st quarter. Principal Financial Group Inc. now owns 1,085,149 shares of the auto parts company’s stock valued at $31,090,000 after acquiring an additional 837,668 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of BorgWarner by 1,121.2% in the 1st quarter. Public Sector Pension Investment Board now owns 693,551 shares of the auto parts company’s stock valued at $19,870,000 after acquiring an additional 636,757 shares during the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

Analyst Upgrades and Downgrades

BWA has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of BorgWarner from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 12th. Evercore ISI increased their price target on BorgWarner from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Zacks Research upgraded BorgWarner from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BorgWarner in a research note on Saturday, September 27th. Finally, The Goldman Sachs Group raised their price objective on shares of BorgWarner from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, BorgWarner currently has a consensus rating of “Moderate Buy” and an average target price of $43.36.

BorgWarner Price Performance

NYSE BWA opened at $42.34 on Wednesday. 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 Inc. has a 12-month low of $24.40 and a 12-month high of $44.97. The company has a market capitalization of $9.16 billion, a PE ratio of 45.04, a price-to-earnings-growth ratio of 1.46 and a beta of 1.09. The firm’s 50 day moving average is $42.23 and its 200-day moving average is $35.25.

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

BorgWarner Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.17 per share. This is a positive change from BorgWarner’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. BorgWarner’s payout ratio is presently 72.34%.

BorgWarner declared that its Board of Directors has authorized a share repurchase program on Thursday, July 31st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the auto parts company to reacquire up to 13.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other BorgWarner news, VP Isabelle Mckenzie sold 2,500 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $40.01, for a total value of $100,025.00. Following the completion of the sale, the vice president owned 55,945 shares in the company, valued at $2,238,359.45. This trade represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Stefan Demmerle sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $39.31, for a total transaction of $589,650.00. Following the completion of the sale, the vice president directly owned 234,040 shares in the company, valued at approximately $9,200,112.40. The trade was a 6.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,272 shares of company stock valued at $1,263,318 in the last 90 days. 0.63% of the stock is currently owned by insiders.

BorgWarner Company 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.