BorgWarner (NYSE:BWA) Given New $44.00 Price Target at Wells Fargo & Company

BorgWarner (NYSE:BWA) had its price target lifted by Wells Fargo & Company from $40.00 to $44.00 in a research note released on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the auto parts company’s stock.

A number of other analysts have also commented on the stock. TD Cowen lowered shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research note on Friday, March 7th. Morgan Stanley reduced their price target on shares of BorgWarner from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Piper Sandler reduced their price target on shares of BorgWarner from $43.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Barclays reduced their price target on shares of BorgWarner from $42.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Finally, UBS Group lifted their price target on shares of BorgWarner from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, BorgWarner currently has an average rating of “Moderate Buy” and an average price target of $37.67.

BorgWarner Stock Down 0.8%

Shares of BorgWarner stock opened at $33.06 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.45 and a current ratio of 1.79. The stock has a market capitalization of $7.26 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 0.77 and a beta of 1.08. BorgWarner has a 52-week low of $24.40 and a 52-week high of $37.29. The company has a 50-day simple moving average of $28.57 and a two-hundred day simple moving average of $30.87.

BorgWarner (NYSE:BWA) last issued its earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.13. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.39 billion. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. On average, analysts anticipate that BorgWarner will post 4.28 EPS for the current fiscal year.

BorgWarner Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.33%. BorgWarner’s dividend payout ratio is currently 35.20%.

Insider Buying and Selling at BorgWarner

In other BorgWarner news, EVP Tania Wingfield sold 24,000 shares of BorgWarner stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total transaction of $690,960.00. Following the transaction, the executive vice president now owns 39,110 shares of the company’s stock, valued at $1,125,976.90. The trade was a 38.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Tonit M. Calaway sold 8,300 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.07, for a total transaction of $249,581.00. Following the completion of the transaction, the chief accounting officer now directly owns 242,257 shares in the company, valued at $7,284,667.99. This trade represents a 3.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,036 shares of company stock valued at $1,851,114 over the last 90 days. 0.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BorgWarner

Hedge funds have recently modified their holdings of the stock. Truist Financial Corp lifted its holdings in shares of BorgWarner by 4.0% in the fourth quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company’s stock worth $487,000 after buying an additional 595 shares in the last quarter. Norges Bank purchased a new stake in BorgWarner during the fourth quarter valued at $62,180,000. State of Alaska Department of Revenue raised its stake in BorgWarner by 96.3% during the fourth quarter. State of Alaska Department of Revenue now owns 51,935 shares of the auto parts company’s stock valued at $1,650,000 after purchasing an additional 25,475 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in BorgWarner during the fourth quarter valued at $1,197,000. Finally, AIA Group Ltd purchased a new stake in BorgWarner during the fourth quarter valued at $1,599,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

BorgWarner Company Profile

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.