Avantax Advisory Services Inc. Has $380,000 Position in BorgWarner Inc. (NYSE:BWA)

Avantax Advisory Services Inc. grew its holdings in BorgWarner Inc. (NYSE:BWA) by 13.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,258 shares of the auto parts company’s stock after buying an additional 1,555 shares during the quarter. Avantax Advisory Services Inc.’s holdings in BorgWarner were worth $380,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Global X Japan Co. Ltd. increased its stake in BorgWarner by 133.4% in the first quarter. Global X Japan Co. Ltd. now owns 915 shares of the auto parts company’s stock valued at $26,000 after acquiring an additional 523 shares during the period. LRI Investments LLC raised its holdings in shares of BorgWarner by 1,515.0% in the 4th quarter. LRI Investments LLC now owns 969 shares of the auto parts company’s stock worth $31,000 after buying an additional 909 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of BorgWarner during the 4th quarter worth approximately $45,000. Allworth Financial LP lifted its position in shares of BorgWarner by 123.1% during the 1st quarter. Allworth Financial LP now owns 1,437 shares of the auto parts company’s stock worth $41,000 after buying an additional 793 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new stake in BorgWarner in the 4th quarter valued at $48,000. 95.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Piper Sandler increased their price objective on BorgWarner from $37.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. The Goldman Sachs Group upgraded shares of BorgWarner from a “neutral” rating to a “buy” rating and increased their target price for the stock from $31.00 to $34.00 in a research report on Thursday, April 10th. Robert W. Baird boosted their price target on shares of BorgWarner from $32.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Guggenheim dropped their price objective on shares of BorgWarner from $38.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company boosted their target price on BorgWarner from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, BorgWarner currently has a consensus rating of “Moderate Buy” and an average price target of $39.50.

BorgWarner Price Performance

BorgWarner stock opened at $38.05 on Thursday. The business’s 50-day simple moving average is $34.55 and its 200 day simple moving average is $31.34. The company has a quick ratio of 1.66, a current ratio of 2.02 and a debt-to-equity ratio of 0.64. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 40.47, a P/E/G ratio of 1.13 and a beta of 1.10. BorgWarner Inc. has a 12-month low of $24.40 and a 12-month high of $38.50.

BorgWarner (NYSE:BWA) last released its earnings results on Thursday, July 31st. The auto parts company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.56 billion. BorgWarner had a net margin of 1.50% and a return on equity of 16.17%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 EPS. As a group, research analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.17 dividend. This is a boost from BorgWarner’s previous quarterly dividend of $0.11. This represents a $0.68 dividend on an annualized basis and a yield of 1.8%. BorgWarner’s dividend payout ratio (DPR) is presently 46.81%.

BorgWarner announced that its Board of Directors has approved a share repurchase plan on Thursday, July 31st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the auto parts company to purchase up to 13.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, VP Isabelle Mckenzie sold 5,000 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $33.25, for a total value of $166,250.00. Following the transaction, the vice president directly owned 63,445 shares in the company, valued at $2,109,546.25. This trade represents a 7.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tonit M. Calaway sold 27,736 shares of BorgWarner stock in a transaction on Monday, May 12th. The stock was sold at an average price of $32.83, for a total value of $910,572.88. Following the sale, the executive vice president directly owned 214,521 shares of the company’s stock, valued at approximately $7,042,724.43. This trade represents a 11.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.

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.