BorgWarner (NYSE:BWA) Upgraded by Morgan Stanley to “Overweight”

Morgan Stanley upgraded shares of BorgWarner (NYSE:BWA – Get Rating) from an equal weight rating to an overweight rating in a report released on Monday morning, MarketBeat Ratings reports. The brokerage currently has $50.00 price objective on the auto parts company’s stock, up from their prior price objective of $49.00.

Several other research firms have also recently commented on BWA. 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. Deutsche Bank Aktiengesellschaft cut their price objective on BorgWarner from $58.00 to $56.00 in a research report on Friday, May 5th. Oppenheimer increased their price objective on BorgWarner from $50.00 to $57.00 and gave the stock an outperform rating in a research report on Friday, February 10th. Robert W. Baird increased their price objective on BorgWarner from $50.00 to $56.00 and gave the stock an outperform rating in a research report on Friday, February 10th. Finally, The Goldman Sachs Group increased their price objective on BorgWarner from $45.00 to $51.00 and gave the stock a neutral rating in a research report on Friday, February 10th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $52.36.

BorgWarner Price Performance

BWA stock opened at $44.54 on Monday. The company has a market capitalization of $10.44 billion, a P/E ratio of 10.89, a PEG ratio of 0.68 and a beta of 1.41. BorgWarner has a twelve month low of $31.14 and a twelve month high of $51.14. The business has a 50 day simple moving average of $47.19 and a 200-day simple moving average of $44.88. 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 (NYSE:BWA – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The auto parts company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). BorgWarner had a return on equity of 14.85% and a net margin of 5.97%. The company had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter last year, the company earned $1.05 EPS. BorgWarner’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities analysts anticipate that BorgWarner will post 4.88 EPS for the current year.

BorgWarner Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Wednesday, May 31st. BorgWarner’s payout ratio is currently 16.63%.

Insiders Place Their Bets

In other BorgWarner news, VP Davide Girelli sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $50.00, for a total value of $350,000.00. Following the sale, the vice president now directly owns 37,356 shares of the company’s stock, valued at approximately $1,867,800. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Davide Girelli sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $50.00, for a total value of $350,000.00. Following the transaction, the vice president now directly owns 37,356 shares in the company, valued at approximately $1,867,800. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Tonit M. Calaway sold 6,889 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $50.87, for a total value of $350,443.43. Following the completion of the transaction, the chief accounting officer now owns 28,105 shares in the company, valued at $1,429,701.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,043 shares of company stock valued at $3,866,535. Insiders own 0.45% of the company’s stock.

Institutional Investors Weigh In On BorgWarner

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of BorgWarner by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 26,131,243 shares of the auto parts company’s stock valued at $1,016,505,000 after buying an additional 570,039 shares during the period. Victory Capital Management Inc. raised its holdings in shares of BorgWarner by 4.1% during the 3rd quarter. Victory Capital Management Inc. now owns 10,148,662 shares of the auto parts company’s stock valued at $318,668,000 after buying an additional 396,485 shares during the period. State Street Corp raised its holdings in shares of BorgWarner by 0.5% during the 3rd quarter. State Street Corp now owns 9,815,492 shares of the auto parts company’s stock valued at $308,206,000 after buying an additional 50,791 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of BorgWarner by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,091,584 shares of the auto parts company’s stock valued at $348,258,000 after buying an additional 67,706 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in shares of BorgWarner by 10.0% during the 1st quarter. Macquarie Group Ltd. now owns 5,322,946 shares of the auto parts company’s stock valued at $261,410,000 after buying an additional 484,794 shares during the period. 91.44% of the stock is currently owned by hedge funds and other institutional investors.

About BorgWarner

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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.