Covestor Ltd Acquires 978 Shares of BorgWarner Inc. (NYSE:BWA)

Covestor Ltd lifted its holdings in BorgWarner Inc. (NYSE:BWA) by 47.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,048 shares of the auto parts company’s stock after buying an additional 978 shares during the period. Covestor Ltd’s holdings in BorgWarner were worth $106,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BWA. EdgeRock Capital LLC bought a new stake in shares of BorgWarner in the 4th quarter worth about $30,000. Riverview Trust Co bought a new position in BorgWarner during the 1st quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. grew its holdings in BorgWarner by 12,144.4% during 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 purchasing an additional 1,093 shares during the last quarter. Quest Partners LLC bought a new position in BorgWarner during the 4th quarter valued at about $40,000. Finally, Mather Group LLC. bought a new position in BorgWarner during the 1st quarter valued at about $44,000. 95.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on BWA. Robert W. Baird cut their price target on shares of BorgWarner from $40.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. JPMorgan Chase & Co. lowered their price objective on shares of BorgWarner from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday. Bank of America lowered their price objective on shares of BorgWarner from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday. UBS Group boosted their price objective on shares of BorgWarner from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, StockNews.com raised shares of BorgWarner from a “hold” rating to a “buy” rating in a research report on Thursday, July 4th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.29.

BorgWarner Stock Down 1.0 %

Shares of NYSE BWA traded down $0.34 during trading hours on Tuesday, hitting $32.31. 745,994 shares of the stock were exchanged, compared to its average volume of 2,834,191. 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 company has a market cap of $7.36 billion, a PE ratio of 12.35, a PEG ratio of 0.86 and a beta of 1.22. The firm has a fifty day moving average price of $34.00 and a 200-day moving average price of $33.52. BorgWarner Inc. has a 12 month low of $29.51 and a 12 month high of $46.77.

BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.03 EPS for the quarter, topping 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 firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the previous year, the business posted $1.09 EPS. BorgWarner’s revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts expect that BorgWarner Inc. will post 4.05 EPS for the current year.

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

BorgWarner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $0.11 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.36%. BorgWarner’s payout ratio is currently 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.