CANADA LIFE ASSURANCE Co Buys 347 Shares of BorgWarner Inc. (NYSE:BWA)

CANADA LIFE ASSURANCE Co lifted its position in shares of BorgWarner Inc. (NYSE:BWA) by 0.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,158 shares of the auto parts company’s stock after purchasing an additional 347 shares during the period. CANADA LIFE ASSURANCE Co owned 0.08% of BorgWarner worth $6,438,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky raised its stake in BorgWarner by 19.1% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 568,303 shares of the auto parts company’s stock valued at $20,373,000 after buying an additional 91,164 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in BorgWarner by 9.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 699,974 shares of the auto parts company’s stock valued at $25,094,000 after buying an additional 59,925 shares during the period. Sei Investments Co. raised its stake in BorgWarner by 13.2% in the fourth quarter. Sei Investments Co. now owns 1,850,749 shares of the auto parts company’s stock valued at $66,349,000 after buying an additional 216,373 shares during the period. Edgestream Partners L.P. raised its stake in BorgWarner by 419.7% in the first quarter. Edgestream Partners L.P. now owns 66,521 shares of the auto parts company’s stock valued at $2,311,000 after buying an additional 53,721 shares during the period. Finally, Illinois Municipal Retirement Fund raised its stake in BorgWarner by 84.3% in the fourth quarter. Illinois Municipal Retirement Fund now owns 260,556 shares of the auto parts company’s stock valued at $9,341,000 after buying an additional 119,170 shares during the period. 95.67% of the stock is owned by institutional investors.

BorgWarner Trading Up 2.0 %

Shares of BWA stock opened at $32.82 on Friday. The stock’s fifty day moving average price is $33.59 and its two-hundred day moving average price is $33.47. The company has a market cap of $7.48 billion, a PE ratio of 12.43, a P/E/G ratio of 0.74 and a beta of 1.22. BorgWarner Inc. has a fifty-two week low of $29.51 and a fifty-two week high of $46.77. 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 (NYSE:BWA) last issued its earnings results on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.16. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.51 billion. BorgWarner had a return on equity of 15.33% and a net margin of 4.02%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. Equities analysts predict that BorgWarner Inc. will post 4.01 EPS for the current fiscal year.

BorgWarner announced that its board has authorized a stock buyback plan 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 reacquire up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

BorgWarner Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Tuesday, September 3rd. BorgWarner’s dividend payout ratio (DPR) is 16.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BWA. Barclays increased their target price on BorgWarner from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. TD Cowen increased their target price on BorgWarner from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Robert W. Baird lowered their target price on BorgWarner from $40.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. StockNews.com lowered BorgWarner from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Citigroup lowered 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. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.29.

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.