BorgWarner (NYSE:BWA) PT Lowered to $38.00 at Robert W. Baird

BorgWarner (NYSE:BWA) had its price target trimmed by Robert W. Baird from $40.00 to $38.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a neutral rating on the auto parts company’s stock.

Other equities research analysts have also issued reports about the stock. Citigroup increased their target price on shares of BorgWarner from $33.00 to $41.00 and gave the stock a neutral rating in a research note on Monday, May 6th. TD Cowen boosted their price objective on BorgWarner from $36.00 to $40.00 and gave the company a buy rating in a research report on Friday, May 3rd. StockNews.com raised BorgWarner from a hold rating to a buy rating in a research note on Thursday, July 4th. Wells Fargo & Company dropped their price target on shares of BorgWarner from $45.00 to $44.00 and set an overweight rating on the stock in a research note on Tuesday, June 25th. Finally, Piper Sandler began coverage on shares of BorgWarner in a research report on Friday, March 15th. They set an overweight rating and a $43.00 price objective for the company. Seven investment 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 company presently has a consensus rating of Moderate Buy and an average target price of $41.19.

BorgWarner Stock Performance

NYSE BWA opened at $33.18 on Friday. The firm has a market capitalization of $7.56 billion, a P/E ratio of 12.57, a PEG ratio of 0.88 and a beta of 1.22. The stock has a 50-day simple moving average of $34.38 and a two-hundred day simple moving average of $33.58. 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 has a fifty-two week low of $29.51 and a fifty-two week high of $46.80.

BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.16. BorgWarner had a return on equity of 15.33% and a net margin of 4.02%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period last year, the business earned $1.09 earnings per share. BorgWarner’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts forecast that BorgWarner will post 4.05 earnings per share for the current year.

BorgWarner Announces Dividend

The firm also recently disclosed 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. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Monday, June 3rd. BorgWarner’s payout ratio is 16.67%.

BorgWarner announced that its board has authorized a stock buyback plan on Thursday, May 2nd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the auto parts company to buy up to 6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On BorgWarner

Several institutional investors and hedge funds have recently modified their holdings of BWA. OLD National Bancorp IN increased its stake in BorgWarner by 44.8% during the third quarter. OLD National Bancorp IN now owns 6,675 shares of the auto parts company’s stock worth $269,000 after purchasing an additional 2,065 shares during the period. Deutsche Bank AG grew its holdings in shares of BorgWarner by 15.2% in the third quarter. Deutsche Bank AG now owns 815,174 shares of the auto parts company’s stock valued at $32,909,000 after purchasing an additional 107,525 shares in the last quarter. Wellington Management Group LLP increased its stake in BorgWarner by 23.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,910,622 shares of the auto parts company’s stock worth $77,132,000 after buying an additional 360,186 shares during the period. Hudson Bay Capital Management LP lifted its holdings in BorgWarner by 8.3% during the 3rd quarter. Hudson Bay Capital Management LP now owns 65,000 shares of the auto parts company’s stock worth $2,624,000 after buying an additional 5,000 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its position in BorgWarner by 9.1% in the 3rd quarter. Wesbanco Bank Inc. now owns 7,656 shares of the auto parts company’s stock valued at $309,000 after buying an additional 636 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

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.