BorgWarner Inc. (NYSE:BWA) Shares Acquired by Wahed Invest LLC

Wahed Invest LLC lifted its stake in shares of BorgWarner Inc. (NYSE:BWA) by 14.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,548 shares of the auto parts company’s stock after buying an additional 568 shares during the quarter. Wahed Invest LLC’s holdings in BorgWarner were worth $158,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in BWA. EdgeRock Capital LLC bought a new position in BorgWarner during the fourth quarter worth $30,000. Riverview Trust Co bought a new position in BorgWarner during the first quarter worth $30,000. LRI Investments LLC bought a new position in BorgWarner during the first quarter worth $35,000. Whittier Trust Co. of Nevada Inc. lifted its stake in BorgWarner by 12,144.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,102 shares of the auto parts company’s stock worth $38,000 after purchasing an additional 1,093 shares during the last quarter. Finally, Quest Partners LLC bought a new position in BorgWarner during the fourth quarter worth $40,000. Institutional investors and hedge funds own 95.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BWA shares. Robert W. Baird raised their target price on BorgWarner from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company cut their target price on BorgWarner from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday. TD Cowen raised their target price on BorgWarner from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Citigroup cut their target price on BorgWarner from $41.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Finally, StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.35.

BorgWarner Price Performance

NYSE:BWA opened at $33.04 on Friday. The business’s 50-day moving average price is $33.34 and its 200 day moving average price is $33.47. The firm has a market cap of $7.53 billion, a P/E ratio of 12.52, a PEG ratio of 0.78 and a beta of 1.22. BorgWarner Inc. has a 52-week low of $29.51 and a 52-week high of $42.78. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.52.

BorgWarner (NYSE:BWA) last released its earnings results on Wednesday, July 31st. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.18. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.69 billion. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. BorgWarner’s revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.35 earnings per share. As a group, sell-side analysts predict that BorgWarner Inc. will post 4.06 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Tuesday, September 3rd. BorgWarner’s payout ratio is currently 16.67%.

BorgWarner declared that its Board of Directors has authorized a share buyback program on Thursday, May 2nd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to buy up to 6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.