Goldman Sachs Group Inc. Buys 6,091 Shares of BorgWarner Inc. (NYSE:BWA)

Goldman Sachs Group Inc. increased its stake in BorgWarner Inc. (NYSE:BWA) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,214,873 shares of the auto parts company’s stock after purchasing an additional 6,091 shares during the period. Goldman Sachs Group Inc. owned approximately 0.53% of BorgWarner worth $43,553,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BWA. Rafferty Asset Management LLC increased its position in shares of BorgWarner by 30.1% in the third quarter. Rafferty Asset Management LLC now owns 29,452 shares of the auto parts company’s stock worth $1,189,000 after purchasing an additional 6,808 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in BorgWarner in the third quarter worth approximately $487,000. Invesco Ltd. boosted its stake in BorgWarner by 30.4% in the third quarter. Invesco Ltd. now owns 4,399,084 shares of the auto parts company’s stock worth $177,591,000 after buying an additional 1,024,361 shares in the last quarter. CenterBook Partners LP purchased a new stake in BorgWarner in the third quarter worth approximately $285,000. Finally, Hsbc Holdings PLC boosted its stake in BorgWarner by 6.5% in the third quarter. Hsbc Holdings PLC now owns 454,682 shares of the auto parts company’s stock worth $18,361,000 after buying an additional 27,770 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

BorgWarner Price Performance

BWA opened at $33.13 on Friday. The stock has a fifty day simple moving average of $34.80 and a two-hundred day simple moving average of $33.86. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 0.79 and a beta of 1.28. BorgWarner Inc. has a 12-month low of $29.51 and a 12-month high of $50.04.

BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.16. The business had revenue of $3.60 billion during 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 firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 earnings per share. Research analysts predict that BorgWarner Inc. will post 4.07 earnings per share for the current fiscal year.

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

BorgWarner Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.11 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 1.33%. BorgWarner’s dividend payout ratio (DPR) is 16.67%.

Wall Street Analysts Forecast Growth

BWA has been the subject of several research reports. StockNews.com raised BorgWarner from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. TD Cowen upped 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 increased their price objective on BorgWarner from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Citigroup increased their price objective on BorgWarner from $33.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Finally, Barclays increased their price objective on BorgWarner from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, BorgWarner has an average rating of “Moderate Buy” and a consensus price target of $43.76.

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.