Barclays Raises BorgWarner (NYSE:BWA) Price Target to $45.00

BorgWarner (NYSE:BWA) had its price target upped by Barclays from $44.00 to $45.00 in a report released on Monday morning, Benzinga reports. The firm currently has an overweight rating on the auto parts company’s stock.

A number of other brokerages have also commented on BWA. Robert W. Baird increased their price objective on shares of BorgWarner from $36.00 to $40.00 and gave the stock a neutral rating in a report on Friday. Piper Sandler initiated coverage on shares of BorgWarner in a research note on Friday, March 15th. They set an overweight rating and a $43.00 price target for the company. BNP Paribas cut shares of BorgWarner from an outperform rating to a neutral rating and reduced their price objective for the company from $43.00 to $35.00 in a research note on Tuesday, February 20th. JPMorgan Chase & Co. cut their price target on BorgWarner from $59.00 to $52.00 and set an overweight rating on the stock in a research note on Thursday, January 25th. Finally, Wells Fargo & Company lifted their price objective on BorgWarner from $43.00 to $45.00 and gave the stock an overweight rating in a research note on Friday. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $43.76.

BorgWarner Price Performance

Shares of BWA stock opened at $36.94 on Monday. The stock’s fifty day simple moving average is $33.23 and its 200 day simple moving average is $33.68. BorgWarner has a one year low of $29.51 and a one year high of $50.04. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 1.08 and a beta of 1.30. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 1.20.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. The business’s revenue was up 6.3% on a year-over-year basis. On average, analysts expect that BorgWarner will post 3.94 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Monday, June 3rd. BorgWarner’s dividend payout ratio (DPR) is presently 16.67%.

Insider Buying and Selling

In related news, VP Stefan Demmerle sold 3,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $31.29, for a total value of $93,870.00. Following the completion of the transaction, the vice president now owns 252,013 shares of the company’s stock, valued at $7,885,486.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Stefan Demmerle sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $31.29, for a total transaction of $93,870.00. Following the transaction, the vice president now directly owns 252,013 shares of the company’s stock, valued at $7,885,486.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Volker Weng sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $32.85, for a total value of $657,000.00. Following the completion of the transaction, the vice president now owns 111,964 shares in the company, valued at approximately $3,678,017.40. The disclosure for this sale can be found here. Insiders have sold a total of 287,503 shares of company stock worth $9,015,478 over the last ninety days. Company insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On BorgWarner

Hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of BorgWarner by 15.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 17,583 shares of the auto parts company’s stock valued at $710,000 after buying an additional 2,323 shares during the period. Raymond James & Associates raised its stake in shares of BorgWarner by 4.7% during the third quarter. Raymond James & Associates now owns 459,318 shares of the auto parts company’s stock valued at $18,543,000 after acquiring an additional 20,536 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of BorgWarner by 2.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 64,887 shares of the auto parts company’s stock worth $2,619,000 after purchasing an additional 1,339 shares during the period. Bank of New York Mellon Corp raised its position in BorgWarner by 3.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,166,308 shares of the auto parts company’s stock worth $87,454,000 after purchasing an additional 76,659 shares during the last quarter. Finally, AMF Tjanstepension AB lifted its holdings in BorgWarner by 1.7% during the 3rd quarter. AMF Tjanstepension AB now owns 100,930 shares of the auto parts company’s stock worth $4,075,000 after buying an additional 1,730 shares during the period. Institutional investors and hedge funds own 95.67% of the company’s stock.

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.