Leith Wheeler Investment Counsel Ltd. Purchases 48,020 Shares of BorgWarner Inc. (NYSE:BWA)

Leith Wheeler Investment Counsel Ltd. lifted its position in shares of BorgWarner Inc. (NYSE:BWA) by 14.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 383,185 shares of the auto parts company’s stock after acquiring an additional 48,020 shares during the period. BorgWarner makes up about 1.3% of Leith Wheeler Investment Counsel Ltd.’s portfolio, making the stock its 20th largest holding. Leith Wheeler Investment Counsel Ltd. owned approximately 0.17% of BorgWarner worth $13,312,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BWA. EdgeRock Capital LLC acquired a new stake in shares of BorgWarner in the 4th quarter valued at $30,000. Riverview Trust Co acquired a new stake in BorgWarner in the first quarter valued at about $30,000. Sound Income Strategies LLC bought a new position in BorgWarner in the fourth quarter valued at about $32,000. Bruce G. Allen Investments LLC acquired a new position in BorgWarner during the fourth quarter worth about $33,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of BorgWarner by 12,144.4% in 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 acquiring an additional 1,093 shares during the last quarter. 95.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on BWA. TD Cowen upped their price objective on shares of BorgWarner from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Piper Sandler initiated coverage on BorgWarner in a research note on Friday, March 15th. They issued an “overweight” rating and a $43.00 price target for the company. Oppenheimer boosted their price objective on BorgWarner from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. StockNews.com raised BorgWarner from a “hold” rating to a “buy” rating in a report on Thursday, July 4th. Finally, Wells Fargo & Company cut their price target on BorgWarner from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 25th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.50.

BorgWarner Trading Up 0.4 %

BWA traded up $0.13 during trading on Friday, reaching $33.27. 720,113 shares of the stock traded hands, compared to its average volume of 2,843,917. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.55. The stock’s 50-day moving average is $34.52 and its 200 day moving average is $33.65. BorgWarner Inc. has a 12 month low of $29.51 and a 12 month high of $47.05. The stock has a market capitalization of $7.58 billion, a PE ratio of 12.58, a P/E/G ratio of 0.85 and a beta of 1.22.

BorgWarner (NYSE:BWA) last announced 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 analyst estimates of $3.51 billion. BorgWarner had a return on equity of 15.33% and a net margin of 4.02%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 EPS. Equities analysts anticipate that BorgWarner Inc. will post 4.05 earnings per share for the current year.

BorgWarner Announces Dividend

The business also recently announced 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. The ex-dividend date was Monday, June 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.32%. BorgWarner’s payout ratio is presently 16.67%.

BorgWarner declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 2nd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are 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.