Royal London Asset Management Ltd. Has $3.29 Million Holdings in BorgWarner Inc. (NYSE:BWA)

Royal London Asset Management Ltd. increased its stake in shares of BorgWarner Inc. (NYSE:BWA) by 6.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 91,872 shares of the auto parts company’s stock after acquiring an additional 5,502 shares during the period. Royal London Asset Management Ltd.’s holdings in BorgWarner were worth $3,294,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in BorgWarner during the fourth quarter valued at approximately $75,489,000. Invesco Ltd. grew its stake in BorgWarner by 30.4% in the 3rd quarter. Invesco Ltd. now owns 4,399,084 shares of the auto parts company’s stock valued at $177,591,000 after buying an additional 1,024,361 shares during the last quarter. Victory Capital Management Inc. raised its holdings in BorgWarner by 10.9% in the 4th quarter. Victory Capital Management Inc. now owns 9,668,438 shares of the auto parts company’s stock worth $346,614,000 after acquiring an additional 948,659 shares during the period. Ninety One UK Ltd lifted its position in BorgWarner by 85.1% during the 4th quarter. Ninety One UK Ltd now owns 1,656,221 shares of the auto parts company’s stock worth $59,376,000 after acquiring an additional 761,250 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in BorgWarner by 43.5% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 2,213,630 shares of the auto parts company’s stock worth $79,359,000 after acquiring an additional 670,720 shares during the last quarter. 95.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BWA has been the topic of a number of recent analyst reports. StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. Barclays lifted their price target on BorgWarner from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Robert W. Baird increased their price objective on BorgWarner from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Oppenheimer upped their target price on shares of BorgWarner from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Piper Sandler assumed coverage on shares of BorgWarner in a report on Friday, March 15th. They issued an “overweight” rating and a $43.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, BorgWarner has an average rating of “Moderate Buy” and an average price target of $43.76.

BorgWarner Price Performance

BWA stock traded down $1.35 during trading on Friday, hitting $32.36. The company had a trading volume of 2,742,553 shares, compared to its average volume of 3,113,616. The company has a fifty day moving average price of $34.96 and a two-hundred day moving average price of $33.88. BorgWarner Inc. has a fifty-two week low of $29.51 and a fifty-two week high of $50.04. The company has a market cap of $7.37 billion, a P/E ratio of 12.26, a P/E/G ratio of 0.78 and a beta of 1.28. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55.

BorgWarner (NYSE:BWA) last issued its earnings results on Thursday, May 2nd. The auto parts company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.87 by $0.16. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.51 billion. BorgWarner had a net margin of 4.02% and a return on equity of 15.33%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 EPS. Equities research analysts expect that BorgWarner Inc. will post 4.07 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Monday, June 3rd. BorgWarner’s payout ratio is 16.67%.

BorgWarner declared that its board has initiated a share buyback plan on Thursday, May 2nd that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the auto parts company to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.