Handelsinvest Investeringsforvaltning Sells 3,570 Shares of BorgWarner Inc. (NYSE:BWA)

Handelsinvest Investeringsforvaltning decreased its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 34.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,875 shares of the auto parts company’s stock after selling 3,570 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in BorgWarner were worth $239,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Alpha Omega Wealth Management LLC boosted its stake in BorgWarner by 91.0% during the first quarter. Alpha Omega Wealth Management LLC now owns 15,681 shares of the auto parts company’s stock valued at $545,000 after buying an additional 7,472 shares during the period. Hennessy Advisors Inc. boosted its holdings in shares of BorgWarner by 43.9% in the 1st quarter. Hennessy Advisors Inc. now owns 92,100 shares of the auto parts company’s stock worth $3,200,000 after purchasing an additional 28,100 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of BorgWarner by 2.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 63,608 shares of the auto parts company’s stock worth $2,210,000 after purchasing an additional 1,579 shares in the last quarter. Parkside Investments LLC boosted its holdings in shares of BorgWarner by 1.3% in the 1st quarter. Parkside Investments LLC now owns 199,369 shares of the auto parts company’s stock worth $6,926,000 after purchasing an additional 2,480 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in shares of BorgWarner in the 1st quarter worth about $30,000. Institutional investors own 95.67% of the company’s stock.

BorgWarner Trading Down 0.0 %

BWA traded down $0.01 during midday trading on Wednesday, reaching $31.75. 66,179 shares of the company’s stock traded hands, compared to its average volume of 2,871,486. The firm has a fifty day moving average of $34.75 and a two-hundred day moving average of $33.80. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 0.78 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 1.20. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $47.05.

BorgWarner (NYSE:BWA) last announced its earnings results on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the prior year, the company earned $1.09 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that BorgWarner Inc. will post 4.05 earnings per share for the current fiscal year.

BorgWarner announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 2nd that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the auto parts company to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

BorgWarner Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Monday, June 3rd. BorgWarner’s dividend payout ratio (DPR) is presently 16.67%.

Analyst Ratings Changes

BWA has been the subject of a number of research reports. Piper Sandler initiated coverage on BorgWarner in a report on Friday, March 15th. They issued an “overweight” rating and a $43.00 price objective for the company. Oppenheimer upped their price objective on BorgWarner from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. TD Cowen upped their price objective on BorgWarner from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Citigroup upped their price objective on BorgWarner from $33.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Finally, Barclays increased their target price on BorgWarner from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.71.

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.