BorgWarner Inc. (NYSE:BWA) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its stake in shares of BorgWarner Inc. (NYSE:BWA) by 51.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,781 shares of the auto parts company’s stock after selling 89,953 shares during the quarter. QRG Capital Management Inc.’s holdings in BorgWarner were worth $2,980,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new position in shares of BorgWarner during the 4th quarter valued at about $30,000. Riverview Trust Co acquired a new stake in BorgWarner in the 1st quarter valued at about $30,000. Sound Income Strategies LLC acquired a new stake in shares of BorgWarner in the fourth quarter valued at approximately $32,000. Bruce G. Allen Investments LLC purchased a new position in BorgWarner during the fourth quarter worth approximately $33,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in BorgWarner by 12,144.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,102 shares of the auto parts company’s stock valued at $38,000 after buying an additional 1,093 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BWA shares. TD Cowen upped their price objective on shares of BorgWarner from $36.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Oppenheimer lifted their target price on BorgWarner from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Wells Fargo & Company lowered their price target on BorgWarner from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Tuesday, June 25th. Barclays raised 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. Finally, Citigroup lowered their target price on BorgWarner from $41.00 to $36.00 and set a “neutral” rating for the company in a report on Friday. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.19.

BorgWarner Stock Up 4.0 %

Shares of NYSE:BWA traded up $1.33 on Tuesday, hitting $34.51. 2,365,154 shares of the company’s stock were exchanged, compared to its average volume of 2,851,206. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.54. BorgWarner Inc. has a 1-year low of $29.51 and a 1-year high of $46.80. The company has a market capitalization of $7.86 billion, a PE ratio of 12.57, a P/E/G ratio of 0.88 and a beta of 1.22. The firm’s 50-day moving average is $34.38 and its 200 day moving average is $33.58.

BorgWarner (NYSE:BWA) last announced its quarterly 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. BorgWarner had a net margin of 4.02% and a return on equity of 15.33%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts predict that BorgWarner Inc. will post 4.05 EPS for the current year.

BorgWarner announced that its board has approved a stock repurchase 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 reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

BorgWarner Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Monday, June 3rd. BorgWarner’s payout ratio is 16.67%.

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.