Robert W. Baird Cuts BorgWarner (NYSE:BWA) Price Target to $29.00

BorgWarner (NYSE:BWA) had its target price decreased by Robert W. Baird from $34.00 to $29.00 in a research report report published on Tuesday,Benzinga reports. Robert W. Baird currently has a neutral rating on the auto parts company’s stock.

Other research analysts have also issued research reports about the company. Evercore ISI dropped their target price on BorgWarner from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. TD Cowen cut BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a report on Friday, March 7th. Piper Sandler reduced their target price on BorgWarner from $43.00 to $36.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. UBS Group reiterated a “neutral” rating and set a $31.00 target price (down from $38.00) on shares of BorgWarner in a research report on Thursday, April 10th. Finally, BNP Paribas raised shares of BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 price target on the stock in a research note on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, BorgWarner has an average rating of “Moderate Buy” and an average target price of $37.50.

BorgWarner Stock Performance

Shares of NYSE:BWA opened at $26.42 on Tuesday. The firm has a fifty day simple moving average of $28.44 and a two-hundred day simple moving average of $31.64. The company has a quick ratio of 1.45, a current ratio of 1.79 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $5.80 billion, a P/E ratio of 18.47, a PEG ratio of 0.77 and a beta of 1.12. BorgWarner has a 52 week low of $24.40 and a 52 week high of $38.23.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, February 6th. The auto parts company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.08. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. On average, analysts expect that BorgWarner will post 4.28 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, March 3rd. BorgWarner’s payout ratio is presently 30.77%.

Insider Transactions at BorgWarner

In related news, CAO Tonit M. Calaway sold 13,500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $30.16, for a total value of $407,160.00. Following the transaction, the chief accounting officer now directly owns 259,310 shares of the company’s stock, valued at $7,820,789.60. This represents a 4.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tania Wingfield sold 24,000 shares of BorgWarner stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total value of $690,960.00. Following the sale, the executive vice president now directly owns 39,110 shares of the company’s stock, valued at approximately $1,125,976.90. This represents a 38.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,800 shares of company stock valued at $1,347,701 in the last quarter. 0.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BWA. Blackston Financial Advisory Group LLC increased its holdings in BorgWarner by 20.3% in the 1st quarter. Blackston Financial Advisory Group LLC now owns 7,705 shares of the auto parts company’s stock worth $221,000 after buying an additional 1,301 shares during the period. Fortis Advisors LLC lifted its position in BorgWarner by 21.3% during the first quarter. Fortis Advisors LLC now owns 9,400 shares of the auto parts company’s stock valued at $269,000 after purchasing an additional 1,650 shares during the period. Elevation Point Wealth Partners LLC boosted its holdings in BorgWarner by 56.7% in the first quarter. Elevation Point Wealth Partners LLC now owns 96,526 shares of the auto parts company’s stock valued at $2,765,000 after purchasing an additional 34,946 shares during the last quarter. Alpha Omega Wealth Management LLC raised its stake in shares of BorgWarner by 59.8% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 25,190 shares of the auto parts company’s stock valued at $722,000 after buying an additional 9,427 shares during the last quarter. Finally, CX Institutional purchased a new stake in shares of BorgWarner in the first quarter worth about $98,000. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

About BorgWarner

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.