GAMMA Investing LLC Has $2.84 Million Stock Holdings in BorgWarner Inc. (NYSE:BWA)

GAMMA Investing LLC increased its holdings in BorgWarner Inc. (NYSE:BWA) by 1,822.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,244 shares of the auto parts company’s stock after purchasing an additional 94,082 shares during the period. GAMMA Investing LLC’s holdings in BorgWarner were worth $2,843,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC raised its position in BorgWarner by 1,515.0% in the fourth quarter. LRI Investments LLC now owns 969 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 909 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new position in BorgWarner in the fourth quarter worth about $45,000. Kapitalo Investimentos Ltda acquired a new position in BorgWarner in the fourth quarter worth about $48,000. Versant Capital Management Inc raised its position in BorgWarner by 448.5% in the first quarter. Versant Capital Management Inc now owns 1,810 shares of the auto parts company’s stock worth $52,000 after purchasing an additional 1,480 shares in the last quarter. Finally, Quarry LP raised its position in BorgWarner by 110.6% in the fourth quarter. Quarry LP now owns 1,826 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 959 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

Insider Activity at BorgWarner

In related news, EVP Tonit M. Calaway sold 27,736 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $32.83, for a total value of $910,572.88. Following the transaction, the executive vice president now directly owns 214,521 shares in the company, valued at $7,042,724.43. This represents a 11.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Isabelle Mckenzie sold 5,000 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $33.25, for a total transaction of $166,250.00. Following the completion of the transaction, the vice president now owns 63,445 shares in the company, valued at $2,109,546.25. This represents a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BWA. Wall Street Zen raised shares of BorgWarner from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Wells Fargo & Company upped their price objective on shares of BorgWarner from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, May 19th. Morgan Stanley decreased their price objective on shares of BorgWarner from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price objective (up from $36.00) on shares of BorgWarner in a research note on Thursday, May 22nd. Finally, Cowen cut shares of BorgWarner from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.73.

BorgWarner Price Performance

BWA opened at $33.39 on Friday. BorgWarner Inc. has a one year low of $24.40 and a one year high of $37.29. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45. The company’s 50 day simple moving average is $30.20 and its 200-day simple moving average is $30.75. The stock has a market capitalization of $7.34 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 0.77 and a beta of 1.10.

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

BorgWarner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.32%. BorgWarner’s dividend payout ratio is currently 35.20%.

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.