Commonwealth Equity Services LLC Purchases 4,760 Shares of BorgWarner Inc. (NYSE:BWA)

Posted by Defense World Staff on Mar 9th, 2023

BorgWarner logo Commonwealth Equity Services LLC raised its holdings in shares of BorgWarner Inc. (NYSE:BWA – Get Rating) by 3.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 126,291 shares of the auto parts company’s stock after purchasing an additional 4,760 shares during the period. Commonwealth Equity Services LLC owned 0.05% of BorgWarner worth $3,965,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Independent Advisor Alliance boosted its stake in BorgWarner by 7.2% in the 3rd quarter. Independent Advisor Alliance now owns 7,520 shares of the auto parts company’s stock worth $236,000 after purchasing an additional 503 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of BorgWarner by 94.2% during the third quarter. Fifth Third Bancorp now owns 53,564 shares of the auto parts company’s stock worth $1,682,000 after buying an additional 25,989 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of BorgWarner by 15.7% during the second quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 8,185 shares of the auto parts company’s stock valued at $273,000 after buying an additional 1,108 shares during the last quarter. Infini Capital Management Ltd acquired a new position in shares of BorgWarner in the 2nd quarter valued at $216,000. Finally, Signaturefd LLC raised its stake in BorgWarner by 17.5% in the 3rd quarter. Signaturefd LLC now owns 2,567 shares of the auto parts company’s stock worth $81,000 after acquiring an additional 382 shares during the last quarter. 91.44% of the stock is owned by hedge funds and other institutional investors.

BorgWarner Stock Performance

NYSE BWA opened at $50.07 on Thursday. The stock has a market capitalization of $11.72 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.56 and a beta of 1.41. The stock has a 50-day moving average of $46.35 and a 200 day moving average of $40.89. The company has a current ratio of 1.56, a quick ratio of 1.16 and a debt-to-equity ratio of 0.55. BorgWarner Inc. has a twelve month low of $31.14 and a twelve month high of $51.14.

BorgWarner (NYSE:BWA – Get Rating) last announced its earnings results on Thursday, February 9th. The auto parts company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.18. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $3.89 billion. BorgWarner had a return on equity of 14.97% and a net margin of 5.97%. The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 EPS. Sell-side analysts anticipate that BorgWarner Inc. will post 4.9 EPS for the current fiscal year.

BorgWarner Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Tuesday, February 28th. BorgWarner’s dividend payout ratio is presently 17.00%.

Insider Buying and Selling

In other news, CFO Kevin Nowlan sold 44,154 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $50.01, for a total value of $2,208,141.54. Following the transaction, the chief financial officer now owns 83,531 shares in the company, valued at $4,177,385.31. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Kevin Nowlan sold 44,154 shares of the firm’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $50.01, for a total value of $2,208,141.54. Following the transaction, the chief financial officer now directly owns 83,531 shares of the company’s stock, valued at $4,177,385.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Tonit M. Calaway sold 6,305 shares of the stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $40.46, for a total transaction of $255,100.30. Following the completion of the sale, the chief accounting officer now owns 40,380 shares of the company’s stock, valued at approximately $1,633,774.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 107,012 shares of company stock worth $5,282,604. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Morgan Stanley increased their price objective on BorgWarner from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, February 10th. The Goldman Sachs Group raised their price target on shares of BorgWarner from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, February 10th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of BorgWarner from $53.00 to $58.00 and gave the company a “buy” rating in a report on Friday, February 10th. Robert W. Baird boosted their target price on shares of BorgWarner from $50.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, February 10th. Finally, Barclays began coverage on BorgWarner in a research report on Tuesday, February 14th. They set an “overweight” rating and a $62.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.91.

BorgWarner Company Profile

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BorgWarner, Inc engages in the provision of technology solutions for combustion, hybrid and electric vehicles. It operates through the following segments: Air Management, e-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment develops and manufactures products to improve fuel economy, reduce emissions and enhance performance.