Toroso Investments LLC Takes Position in BorgWarner Inc. (NYSE:BWA)

Toroso Investments LLC purchased a new stake in BorgWarner Inc. (NYSE:BWA) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 18,360 shares of the auto parts company’s stock, valued at approximately $902,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bell Bank bought a new position in shares of BorgWarner in the first quarter valued at $215,000. Truist Financial Corp lifted its holdings in shares of BorgWarner by 75.8% during the first quarter. Truist Financial Corp now owns 60,769 shares of the auto parts company’s stock valued at $2,984,000 after purchasing an additional 26,202 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of BorgWarner by 4.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 785,202 shares of the auto parts company’s stock valued at $38,561,000 after purchasing an additional 31,659 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of BorgWarner by 2.2% in the 1st quarter. Treasurer of the State of North Carolina now owns 171,616 shares of the auto parts company’s stock valued at $8,428,000 after purchasing an additional 3,668 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in BorgWarner by 6.4% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,966 shares of the auto parts company’s stock worth $293,000 after purchasing an additional 360 shares in the last quarter. 92.35% of the stock is currently owned by institutional investors.

BorgWarner Trading Down 0.4 %

BorgWarner stock opened at $40.90 on Tuesday. BorgWarner Inc. has a one year low of $31.14 and a one year high of $51.14. The company’s fifty day moving average price is $42.46 and its two-hundred day moving average price is $45.38. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.62 and a quick ratio of 1.18. The company has a market capitalization of $9.61 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 0.90 and a beta of 1.44.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.21. BorgWarner had a return on equity of 15.45% and a net margin of 5.63%. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.39 billion. On average, analysts forecast that BorgWarner Inc. will post 3.76 earnings per share for the current fiscal year.

BorgWarner Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a $0.11 dividend. The ex-dividend date was Thursday, August 31st. This represents a $0.44 annualized dividend and a yield of 1.08%. BorgWarner’s dividend payout ratio (DPR) is presently 10.86%.

Analysts Set New Price Targets

BWA has been the topic of several analyst reports. Bank of America raised shares of BorgWarner from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $54.00 to $67.00 in a research report on Thursday, July 6th. Barclays cut their target price on shares of BorgWarner from $58.00 to $57.00 in a research note on Monday, July 10th. JPMorgan Chase & Co. decreased their target price on BorgWarner from $59.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, July 20th. Nomura Instinet reissued a “neutral” rating and set a $44.00 price target on shares of BorgWarner in a research report on Thursday, August 17th. Finally, Robert W. Baird raised their price objective on BorgWarner from $48.00 to $50.00 in a research report on Thursday, July 6th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.64.

About BorgWarner

BorgWarner Inc 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, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging.