BorgWarner Inc. (NYSE:BWA) Holdings Lifted by CIBC Asset Management Inc

Posted by on Jun 12th, 2023

CIBC Asset Management Inc boosted its position in shares of BorgWarner Inc. (NYSE:BWA – Get Rating) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,819 shares of the auto parts company’s stock after buying an additional 1,888 shares during the quarter. CIBC Asset Management Inc’s holdings in BorgWarner were worth $1,361,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BWA. Edge Capital Group LLC purchased a new stake in shares of BorgWarner during the fourth quarter valued at $76,000. Alpha Omega Wealth Management LLC lifted its stake in BorgWarner by 9.0% in the 4th quarter. Alpha Omega Wealth Management LLC now owns 7,241 shares of the auto parts company’s stock worth $291,000 after acquiring an additional 597 shares in the last quarter. Arizona State Retirement System lifted its stake in BorgWarner by 1.9% in the 4th quarter. Arizona State Retirement System now owns 67,037 shares of the auto parts company’s stock worth $2,698,000 after acquiring an additional 1,258 shares in the last quarter. Fifth Third Bancorp lifted its stake in BorgWarner by 6.9% in the 4th quarter. Fifth Third Bancorp now owns 57,253 shares of the auto parts company’s stock worth $2,304,000 after acquiring an additional 3,689 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in BorgWarner by 1.2% in the 4th quarter. Raymond James & Associates now owns 335,019 shares of the auto parts company’s stock worth $13,485,000 after acquiring an additional 3,899 shares in the last quarter. Institutional investors own 91.44% of the company’s stock.

BorgWarner Stock Performance

BWA traded up $0.22 during midday trading on Monday, reaching $46.07. The company’s stock had a trading volume of 732,342 shares, compared to its average volume of 2,219,632. The stock has a market cap of $10.80 billion, a P/E ratio of 11.27, a PEG ratio of 0.65 and a beta of 1.42. The company has a fifty day simple moving average of $46.65 and a 200 day simple moving average of $45.72. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 0.54. BorgWarner Inc. has a twelve month low of $31.14 and a twelve month high of $51.14.

BorgWarner (NYSE:BWA – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). BorgWarner had a net margin of 5.97% and a return on equity of 14.85%. The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Research analysts expect that BorgWarner Inc. will post 5.01 earnings per share for the current year.

BorgWarner Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.68 annualized dividend and a dividend yield of 1.48%. BorgWarner’s dividend payout ratio (DPR) is currently 16.63%.

Insider Activity

In other news, Director Alexis P. Michas sold 7,173 shares of BorgWarner stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $44.45, for a total value of $318,839.85. Following the completion of the sale, the director now directly owns 76,441 shares of the company’s stock, valued at approximately $3,397,802.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.45% of the company’s stock.

Analysts Set New Price Targets

BWA has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on BorgWarner from $58.00 to $56.00 in a research note on Friday, May 5th. Citigroup cut their price target on BorgWarner from $53.00 to $50.00 in a research note on Tuesday, May 16th. Wells Fargo & Company cut their price target on BorgWarner from $56.00 to $55.00 and set an “overweight” rating for the company in a research note on Monday, April 10th. Barclays cut their price target on BorgWarner from $62.00 to $58.00 in a research note on Monday, May 8th. Finally, StockNews.com downgraded BorgWarner from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 5th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, BorgWarner has an average rating of “Moderate Buy” and an average target price of $52.73.

BorgWarner 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.

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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