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

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

Other equities research analysts have also recently issued research reports about the company. StockNews.com cut BorgWarner from a buy rating to a hold rating in a research note on Friday, February 9th. TheStreet cut shares of BorgWarner from a b- rating to a c+ rating in a research note on Thursday, February 8th. Piper Sandler assumed coverage on shares of BorgWarner in a report on Friday, March 15th. They set an overweight rating and a $43.00 target price for the company. Barclays increased their price target on shares of BorgWarner from $40.00 to $44.00 and gave the company an overweight rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company reduced their price objective on BorgWarner from $47.00 to $43.00 and set an overweight rating for the company in a report on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $43.93.

BorgWarner Stock Performance

Shares of BorgWarner stock traded up $0.81 during trading on Friday, hitting $36.44. 4,825,565 shares of the stock were exchanged, compared to its average volume of 2,527,433. The company has a current ratio of 1.54, a quick ratio of 1.30 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average price of $33.10 and a 200-day moving average price of $33.76. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.07 and a beta of 1.30. BorgWarner has a 1-year low of $29.51 and a 1-year high of $50.04.

BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.16. BorgWarner had a return on equity of 15.33% and a net margin of 4.02%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts predict that BorgWarner will post 3.9 EPS for the current fiscal year.

BorgWarner Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, June 3rd. BorgWarner’s payout ratio is 16.67%.

Insider Buying and Selling at BorgWarner

In other news, VP Stefan Demmerle sold 3,000 shares of BorgWarner stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total transaction of $99,000.00. Following the sale, the vice president now directly owns 249,013 shares of the company’s stock, valued at $8,217,429. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Frederic Lissalde sold 225,900 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $31.08, for a total value of $7,020,972.00. Following the completion of the sale, the chief executive officer now directly owns 455,227 shares in the company, valued at $14,148,455.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stefan Demmerle sold 3,000 shares of the firm’s stock in a transaction 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 directly owns 249,013 shares of the company’s stock, valued at $8,217,429. The disclosure for this sale can be found here. Over the last three months, insiders sold 287,503 shares of company stock worth $9,015,478. 0.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BorgWarner

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new position in BorgWarner during the third quarter worth $28,000. EdgeRock Capital LLC bought a new position in shares of BorgWarner in the 4th quarter worth about $30,000. Riverview Trust Co acquired a new position in shares of BorgWarner in the 1st quarter valued at about $30,000. Sound Income Strategies LLC acquired a new position in shares of BorgWarner in the 4th quarter valued at about $32,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in BorgWarner during the fourth quarter worth approximately $33,000. 95.67% of the stock is currently owned by institutional investors.

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.