BorgWarner Inc. $BWA Shares Sold by Raymond James Financial Inc.

Raymond James Financial Inc. reduced its position in shares of BorgWarner Inc. (NYSE:BWA) by 8.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,633 shares of the auto parts company’s stock after selling 10,775 shares during the period. Raymond James Financial Inc. owned 0.05% of BorgWarner worth $3,170,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in BWA. Global X Japan Co. Ltd. increased its position in shares of BorgWarner by 133.4% during 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 last quarter. Manchester Capital Management LLC acquired a new stake in BorgWarner during the first quarter worth approximately $30,000. LRI Investments LLC raised its holdings in BorgWarner by 1,515.0% during 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. Meeder Asset Management Inc. raised its holdings in BorgWarner by 63.5% during the first quarter. Meeder Asset Management Inc. now owns 1,388 shares of the auto parts company’s stock worth $40,000 after purchasing an additional 539 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in BorgWarner by 123.1% during the first quarter. Allworth Financial LP now owns 1,437 shares of the auto parts company’s stock worth $41,000 after purchasing an additional 793 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BWA has been the topic of a number of recent research reports. Bank of America lifted their target price on shares of BorgWarner from $35.00 to $41.00 and gave the company a “buy” rating in a report on Monday, June 16th. JPMorgan Chase & Co. lifted their price objective on shares of BorgWarner from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Robert W. Baird upgraded shares of BorgWarner from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $41.00 to $52.00 in a research report on Wednesday, September 3rd. Baird R W upgraded shares of BorgWarner from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, Barclays reiterated an “overweight” rating and issued a $45.00 price objective (up from $42.00) on shares of BorgWarner in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, BorgWarner presently has a consensus rating of “Moderate Buy” and an average target price of $40.57.

Insider Transactions at BorgWarner

In other BorgWarner news, VP Isabelle Mckenzie sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $40.01, for a total value of $100,025.00. Following the completion of the transaction, the vice president owned 55,945 shares in the company, valued at $2,238,359.45. This represents a 4.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexis P. Michas sold 8,772 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $42.31, for a total value of $371,143.32. Following the completion of the transaction, the director owned 78,903 shares of the company’s stock, valued at approximately $3,338,385.93. This represents a 10.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,272 shares of company stock valued at $1,263,318 over the last 90 days. Corporate insiders own 0.63% of the company’s stock.

BorgWarner Trading Up 0.3%

NYSE:BWA opened at $44.00 on Monday. The stock has a fifty day simple moving average of $38.46 and a 200-day simple moving average of $33.02. BorgWarner Inc. has a 52-week low of $24.40 and a 52-week high of $44.32. The company has a market capitalization of $9.52 billion, a PE ratio of 46.81, a price-to-earnings-growth ratio of 1.33 and a beta of 1.09. The company has a quick ratio of 1.66, a current ratio of 2.02 and a debt-to-equity ratio of 0.64.

BorgWarner (NYSE:BWA) last announced its earnings results on Thursday, July 31st. The auto parts company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.15. BorgWarner had a net margin of 1.50% and a return on equity of 16.17%. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the company posted $1.19 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. BorgWarner has set its FY 2025 guidance at 4.450-4.65 EPS. On average, equities research analysts expect that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from BorgWarner’s previous quarterly dividend of $0.11. This represents a $0.68 annualized dividend and a dividend yield of 1.5%. BorgWarner’s dividend payout ratio (DPR) is currently 72.34%.

BorgWarner declared that its board has authorized a share buyback program on Thursday, July 31st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the auto parts company to reacquire up to 13.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

BorgWarner 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.