GAMMA Investing LLC Lowers Position in BorgWarner Inc. (NYSE:BWA)

GAMMA Investing LLC cut its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 32.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,589 shares of the auto parts company’s stock after selling 766 shares during the period. GAMMA Investing LLC’s holdings in BorgWarner were worth $55,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Hennessy Advisors Inc. acquired a new stake in shares of BorgWarner in the 4th quarter worth $2,294,000. Vanguard Group Inc. raised its position in BorgWarner by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 27,147,545 shares of the auto parts company’s stock worth $973,239,000 after buying an additional 331,401 shares during the last quarter. Wahed Invest LLC boosted its holdings in shares of BorgWarner by 11.2% in the 4th quarter. Wahed Invest LLC now owns 3,980 shares of the auto parts company’s stock valued at $143,000 after acquiring an additional 402 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in BorgWarner during the 4th quarter worth about $66,000. Finally, Royal London Asset Management Ltd. raised its position in BorgWarner by 6.4% during the fourth quarter. Royal London Asset Management Ltd. now owns 91,872 shares of the auto parts company’s stock valued at $3,294,000 after acquiring an additional 5,502 shares in the last quarter. 95.67% of the stock is owned by institutional investors.

BorgWarner Stock Up 1.4 %

Shares of NYSE:BWA opened at $33.60 on Tuesday. BorgWarner Inc. has a fifty-two week low of $29.51 and a fifty-two week high of $50.04. The firm’s 50 day moving average price is $34.80 and its 200 day moving average price is $33.87. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.55. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 0.80 and a beta of 1.28.

BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.16. BorgWarner had a net margin of 4.02% and a return on equity of 15.33%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the previous year, the company earned $1.09 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts predict that BorgWarner Inc. will post 4.07 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.11 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.44 annualized dividend and a yield of 1.31%. BorgWarner’s dividend payout ratio is presently 16.67%.

BorgWarner declared that its Board of Directors has initiated a share repurchase program on Thursday, May 2nd that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the auto parts company to purchase up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Robert W. Baird lifted their price target on BorgWarner from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. TD Cowen upped their price objective on shares of BorgWarner from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. StockNews.com raised BorgWarner from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. Citigroup increased their price target on shares of BorgWarner from $33.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Finally, Wells Fargo & Company raised their price objective on BorgWarner from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. 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, BorgWarner currently has a consensus rating of “Moderate Buy” and an average price target of $43.76.

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.