EFG International AG purchased a new stake in shares of BorgWarner Inc. (NYSE:BWA – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 31,256 shares of the auto parts company’s stock, valued at approximately $2,075,000.
Several other hedge funds have also recently added to or reduced their stakes in BWA. Acadian Asset Management LLC raised its position in BorgWarner by 23.7% in the 1st quarter. Acadian Asset Management LLC now owns 8,979 shares of the auto parts company’s stock worth $257,000 after purchasing an additional 1,723 shares during the period. Sivia Capital Partners LLC bought a new stake in BorgWarner in the second quarter valued at approximately $339,000. EverSource Wealth Advisors LLC lifted its position in BorgWarner by 400.5% in the second quarter. EverSource Wealth Advisors LLC now owns 5,531 shares of the auto parts company’s stock valued at $185,000 after purchasing an additional 4,426 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of BorgWarner during the second quarter valued at approximately $247,000. Finally, Cerity Partners LLC grew its holdings in shares of BorgWarner by 30.2% in the second quarter. Cerity Partners LLC now owns 143,841 shares of the auto parts company’s stock worth $4,816,000 after purchasing an additional 33,362 shares during the last quarter. Institutional investors own 95.67% of the company’s stock.
BorgWarner Price Performance
Shares of BorgWarner stock opened at $64.66 on Thursday. The stock has a market cap of $13.17 billion, a P/E ratio of 32.33, a P/E/G ratio of 1.17 and a beta of 1.10. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.76 and a current ratio of 2.13. The stock’s fifty day moving average is $65.89 and its 200 day moving average is $61.97. BorgWarner Inc. has a one year low of $40.50 and a one year high of $78.82.
BorgWarner declared that its board has authorized a stock buyback program on Wednesday, August 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the auto parts company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
BorgWarner Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 1st. BorgWarner’s dividend payout ratio (DPR) is presently 34.00%.
Insiders Place Their Bets
In related news, CAO Amy B. Kulikowski sold 2,900 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $68.60, for a total value of $198,940.00. Following the completion of the transaction, the chief accounting officer owned 9,725 shares of the company’s stock, valued at approximately $667,135. This represents a 22.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rajesh Kalathur purchased 7,407 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was acquired at an average price of $67.59 per share, with a total value of $500,639.13. Following the purchase, the director directly owned 7,407 shares in the company, valued at $500,639.13. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.76% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Barclays upped their target price on shares of BorgWarner from $83.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft set a $80.00 price objective on BorgWarner in a research note on Thursday, August 6th. Weiss Ratings raised shares of BorgWarner from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 29th. Finally, Sanford C. Bernstein raised BorgWarner to a “buy” rating in a report on Wednesday, June 10th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.93.
Check Out Our Latest Stock Report on BorgWarner
BorgWarner Profile
BorgWarner Inc is a global automotive supplier specializing in propulsion and drivetrain solutions for combustion, hybrid and electric vehicles. The company’s product portfolio includes turbochargers, thermal management systems, transmission components, e-Propulsion modules and advanced fuel-efficiency technologies. BorgWarner serves original equipment manufacturers (OEMs) across passenger cars, light trucks and commercial vehicles, supporting both legacy internal-combustion engines and emerging electrification trends.
Founded in 1928 through the merger of several driveline companies, BorgWarner has grown through strategic acquisitions and continuous investment in research and development.
See Also
- Five stocks we like better than BorgWarner
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
- Can Tesla’s Flying Roadster Distract From Its Real Risks?
Receive News & Ratings for BorgWarner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BorgWarner and related companies with MarketBeat.com's FREE daily email newsletter.
