Algert Global LLC Acquires New Position in BorgWarner Inc. (NYSE:BWA)

Algert Global LLC purchased a new position in shares of BorgWarner Inc. (NYSE:BWA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 96,373 shares of the auto parts company’s stock, valued at approximately $3,107,000.

Several other large investors have also recently added to or reduced their stakes in BWA. Riverview Trust Co bought a new position in shares of BorgWarner during the first quarter worth about $30,000. LRI Investments LLC grew its position in BorgWarner by 2,685.3% in the 2nd quarter. LRI Investments LLC now owns 947 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 913 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in shares of BorgWarner in the second quarter valued at approximately $32,000. Olistico Wealth LLC bought a new stake in shares of BorgWarner during the second quarter valued at approximately $35,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of BorgWarner by 12,144.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,102 shares of the auto parts company’s stock worth $38,000 after buying an additional 1,093 shares during the period. 95.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Bank of America cut their target price on BorgWarner from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Wells Fargo & Company reduced their price objective on shares of BorgWarner from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Citigroup lowered their target price on shares of BorgWarner from $41.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Wolfe Research initiated coverage on shares of BorgWarner in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Robert W. Baird raised their price objective on shares of BorgWarner from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BorgWarner presently has an average rating of “Moderate Buy” and an average target price of $41.20.

Insider Transactions at BorgWarner

In related news, CAO Tonit M. Calaway sold 10,868 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $31.74, for a total value of $344,950.32. Following the completion of the sale, the chief accounting officer now directly owns 206,083 shares of the company’s stock, valued at approximately $6,541,074.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Tonit M. Calaway sold 10,868 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $31.74, for a total value of $344,950.32. Following the transaction, the chief accounting officer now owns 206,083 shares in the company, valued at approximately $6,541,074.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tania Wingfield sold 2,066 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.00, for a total transaction of $66,112.00. Following the sale, the executive vice president now owns 46,016 shares of the company’s stock, valued at $1,472,512. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by insiders.

BorgWarner Trading Down 2.2 %

Shares of BWA opened at $35.49 on Wednesday. The business’s 50-day moving average price is $33.10 and its 200 day moving average price is $33.75. The company has a current ratio of 1.62, a quick ratio of 1.26 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $8.09 billion, a P/E ratio of 13.44, a P/E/G ratio of 0.94 and a beta of 1.20. BorgWarner Inc. has a 1-year low of $29.51 and a 1-year high of $40.76.

BorgWarner (NYSE:BWA) last released its earnings results on Wednesday, July 31st. The auto parts company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.18. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.69 billion. BorgWarner had a net margin of 4.97% and a return on equity of 15.50%. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period last year, the firm posted $1.35 earnings per share. Analysts expect that BorgWarner Inc. will post 4.1 earnings per share for the current year.

BorgWarner Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.24%. BorgWarner’s payout ratio is currently 16.67%.

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.