Hennessy Advisors Inc. Purchases 28,100 Shares of BorgWarner Inc. (NYSE:BWA)

Hennessy Advisors Inc. grew its position in shares of BorgWarner Inc. (NYSE:BWA) by 43.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 92,100 shares of the auto parts company’s stock after acquiring an additional 28,100 shares during the period. Hennessy Advisors Inc.’s holdings in BorgWarner were worth $3,200,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in shares of BorgWarner during the 4th quarter valued at about $30,000. Riverview Trust Co bought a new position in BorgWarner during the 1st quarter worth approximately $30,000. Sound Income Strategies LLC bought a new position in BorgWarner during the 4th quarter worth approximately $32,000. Bruce G. Allen Investments LLC bought a new position in BorgWarner during the 4th quarter worth approximately $33,000. Finally, Trust Co. of Vermont grew its position in BorgWarner by 49,000.0% during the 3rd quarter. Trust Co. of Vermont now owns 982 shares of the auto parts company’s stock worth $40,000 after acquiring an additional 980 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on BWA. Piper Sandler began coverage on BorgWarner in a research report on Friday, March 15th. They set an “overweight” rating and a $43.00 price target on the stock. Robert W. Baird increased their price objective on BorgWarner from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. StockNews.com cut BorgWarner from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup increased 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, Wells Fargo & Company lowered their target price on BorgWarner from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday. Eight 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 $43.71.

BorgWarner Stock Up 0.6 %

NYSE:BWA traded up $0.19 during trading hours on Friday, reaching $32.19. 1,153,697 shares of the company traded hands, compared to its average volume of 2,877,588. The stock has a market capitalization of $7.33 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.79 and a beta of 1.28. The business’s 50-day moving average price is $34.82 and its two-hundred day moving average price is $33.85. BorgWarner Inc. has a 1 year low of $29.51 and a 1 year high of $50.04. 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 posted its earnings results on Thursday, May 2nd. The auto parts company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.16. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.51 billion. BorgWarner had a return on equity of 15.33% and a net margin of 4.02%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 EPS. Analysts predict that BorgWarner Inc. will post 4.05 earnings per share for the current year.

BorgWarner Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Monday, June 3rd. BorgWarner’s payout ratio is 16.67%.

BorgWarner announced that its board has approved a share buyback program on Thursday, May 2nd that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the auto parts company to buy up to 6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

BorgWarner 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.