Olistico Wealth LLC Purchases Shares of 1,078 BorgWarner Inc. (NYSE:BWA)

Olistico Wealth LLC acquired a new position in shares of BorgWarner Inc. (NYSE:BWA) in the 2nd quarter, Holdings Channel reports. The fund acquired 1,078 shares of the auto parts company’s stock, valued at approximately $35,000.

Several other institutional investors also recently modified their holdings of BWA. Norges Bank purchased a new position in shares of BorgWarner in the fourth quarter worth $75,489,000. Victory Capital Management Inc. increased its holdings in BorgWarner by 10.9% during the 4th quarter. Victory Capital Management Inc. now owns 9,668,438 shares of the auto parts company’s stock valued at $346,614,000 after purchasing an additional 948,659 shares during the period. Ninety One UK Ltd raised its position in BorgWarner by 85.1% during the 4th quarter. Ninety One UK Ltd now owns 1,656,221 shares of the auto parts company’s stock valued at $59,376,000 after purchasing an additional 761,250 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in BorgWarner by 43.5% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 2,213,630 shares of the auto parts company’s stock valued at $79,359,000 after purchasing an additional 670,720 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of BorgWarner in the 1st quarter worth approximately $14,022,000. 95.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BWA has been the subject of a number of recent analyst reports. StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on shares of BorgWarner from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday. TD Cowen raised their price objective on shares of BorgWarner from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Citigroup reduced their target price on BorgWarner from $41.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, Oppenheimer increased their target price on BorgWarner from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.41.

Insider Activity at BorgWarner

In related news, CAO Tonit M. Calaway sold 10,868 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $31.74, for a total value of $344,950.32. Following the sale, the chief accounting officer now owns 206,083 shares in the company, valued at $6,541,074.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.45% of the stock is owned by corporate insiders.

BorgWarner Price Performance

Shares of BorgWarner stock traded down $0.21 during trading hours on Wednesday, hitting $31.65. The company’s stock had a trading volume of 2,160,701 shares, compared to its average volume of 2,877,978. The company has a market cap of $7.21 billion, a PE ratio of 12.07, a PEG ratio of 0.78 and a beta of 1.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.20 and a current ratio of 1.62. The business has a 50 day moving average price of $33.19 and a two-hundred day moving average price of $33.47. BorgWarner Inc. has a 12-month low of $29.51 and a 12-month high of $42.78.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.18. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the previous year, the firm earned $1.35 EPS. The firm’s revenue was down 20.3% compared to the same quarter last year. Analysts expect that BorgWarner Inc. will post 4.06 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be given a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.39%. BorgWarner’s dividend payout ratio is currently 16.67%.

BorgWarner declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 2nd that allows the company to buyback $500.00 million in shares. This buyback authorization allows 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 board of directors believes its shares are undervalued.

BorgWarner Company 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.