BorgWarner Inc. (NYSE:BWA) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in shares of BorgWarner Inc. (NYSE:BWAFree Report) by 16.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,432 shares of the auto parts company’s stock after selling 10,925 shares during the period. State of Alaska Department of Revenue’s holdings in BorgWarner were worth $1,925,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new position in shares of BorgWarner in the 4th quarter worth approximately $30,000. Riverview Trust Co bought a new position in shares of BorgWarner in the first quarter valued at $30,000. Sound Income Strategies LLC acquired a new stake in shares of BorgWarner during the 4th quarter valued at $32,000. Bruce G. Allen Investments LLC bought a new stake in shares of BorgWarner during the 4th quarter worth $33,000. Finally, Trust Co. of Vermont boosted its stake in shares of BorgWarner by 49,000.0% during the 3rd quarter. Trust Co. of Vermont now owns 982 shares of the auto parts company’s stock worth $40,000 after acquiring an additional 980 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BWA. StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a research report on Thursday. Citigroup boosted their price target on shares of BorgWarner from $33.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Piper Sandler assumed coverage on shares of BorgWarner in a research note on Friday, March 15th. They issued an “overweight” rating and a $43.00 price objective for the company. Robert W. Baird boosted their target price on shares of BorgWarner from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Barclays raised their target price on BorgWarner from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, BorgWarner currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.25.

Read Our Latest Stock Report on BorgWarner

BorgWarner Price Performance

NYSE BWA opened at $31.32 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $7.14 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.76 and a beta of 1.22. BorgWarner Inc. has a 12-month low of $29.51 and a 12-month high of $47.05. The company has a 50 day moving average price of $34.66 and a two-hundred day moving average price of $33.73.

BorgWarner (NYSE:BWAGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.16. BorgWarner had a net margin of 4.02% and a return on equity of 15.33%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the prior year, the company posted $1.09 earnings per share. BorgWarner’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities analysts predict that BorgWarner Inc. will post 4.05 earnings per share for the current fiscal year.

BorgWarner declared that its board has approved a share repurchase program on Thursday, May 2nd that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the auto parts company to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

BorgWarner Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Monday, June 3rd. BorgWarner’s dividend payout ratio is 16.67%.

About BorgWarner

(Free Report)

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.

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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