BorgWarner Inc. (NYSE:BWA) Stake Boosted by Biechele Royce Advisors

Biechele Royce Advisors lifted its position in BorgWarner Inc. (NYSE:BWA) by 8.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 424,966 shares of the auto parts company’s stock after buying an additional 31,902 shares during the period. BorgWarner makes up about 4.9% of Biechele Royce Advisors’ investment portfolio, making the stock its 8th biggest position. Biechele Royce Advisors owned approximately 0.19% of BorgWarner worth $14,764,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. EdgeRock Capital LLC bought a new stake in shares of BorgWarner in the fourth quarter worth about $30,000. Riverview Trust Co purchased a new position in shares of BorgWarner during the first quarter valued at approximately $30,000. Sound Income Strategies LLC purchased a new position in shares of BorgWarner during the fourth quarter valued at approximately $32,000. Bruce G. Allen Investments LLC bought a new stake in shares of BorgWarner during the fourth quarter valued at approximately $33,000. Finally, Trust Co. of Vermont raised its stake in shares of BorgWarner by 49,000.0% during the third quarter. Trust Co. of Vermont now owns 982 shares of the auto parts company’s stock valued at $40,000 after acquiring an additional 980 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BWA. Barclays upped their price target on BorgWarner from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Piper Sandler initiated coverage on shares of BorgWarner in a research note on Friday, March 15th. They set an “overweight” rating and a $43.00 target price on the stock. StockNews.com upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a research report on Thursday, July 4th. TD Cowen increased their price objective on shares of BorgWarner from $36.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Wells Fargo & Company dropped their price target on shares of BorgWarner from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday, June 25th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.63.

BorgWarner Stock Performance

NYSE:BWA traded up $1.05 during mid-day trading on Thursday, hitting $33.14. The stock had a trading volume of 2,281,953 shares, compared to its average volume of 2,860,904. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $47.05. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 0.83 and a beta of 1.22. The company has a 50 day simple moving average of $34.52 and a 200-day simple moving average of $33.65. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55.

BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, May 2nd. The auto parts company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.16. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.51 billion. BorgWarner had a net margin of 4.02% and a return on equity of 15.33%. BorgWarner’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. On average, research analysts expect that BorgWarner Inc. will post 4.05 earnings per share for the current fiscal year.

BorgWarner declared that its Board of Directors has initiated a share buyback program on Thursday, May 2nd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to buy up to 6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

BorgWarner Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.44 annualized dividend and a dividend yield of 1.33%. BorgWarner’s dividend payout ratio is currently 16.67%.

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.