Wells Fargo & Company Lowers BorgWarner (NYSE:BWA) Price Target to $44.00

BorgWarner (NYSE:BWA) had its target price cut by Wells Fargo & Company from $45.00 to $44.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the auto parts company’s stock.

Other equities analysts also recently issued research reports about the company. Citigroup upped their price objective on BorgWarner from $33.00 to $41.00 and gave the company a neutral rating in a research report on Monday, May 6th. Robert W. Baird upped their price objective on BorgWarner from $36.00 to $40.00 and gave the company a neutral rating in a research report on Friday, May 3rd. Barclays upped their price objective on BorgWarner from $44.00 to $45.00 and gave the company an overweight rating in a research report on Monday, May 6th. Oppenheimer upped their target price on BorgWarner from $39.00 to $40.00 and gave the stock an outperform rating in a report on Friday, May 3rd. Finally, TD Cowen upped their target price on BorgWarner from $36.00 to $40.00 and gave the stock a buy rating in a report on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $43.71.

BorgWarner Stock Performance

NYSE BWA opened at $32.88 on Tuesday. The company has a market cap of $7.49 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.80 and a beta of 1.28. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.54. The business’s 50 day moving average price is $34.81 and its 200-day moving average price is $33.87. BorgWarner has a fifty-two week low of $29.51 and a fifty-two week high of $50.04.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.03 EPS for the quarter, beating the consensus estimate 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 return on equity of 15.33% and a net margin of 4.02%. BorgWarner’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 EPS. Sell-side analysts predict that BorgWarner will post 4.07 earnings per share for the current year.

BorgWarner Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Monday, June 3rd. BorgWarner’s dividend payout ratio (DPR) is currently 16.67%.

BorgWarner announced that its Board of Directors has authorized a share repurchase program on Thursday, May 2nd that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the auto parts company to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On BorgWarner

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in BorgWarner by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 27,147,545 shares of the auto parts company’s stock valued at $973,239,000 after purchasing an additional 331,401 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of BorgWarner by 10.9% during the fourth quarter. Victory Capital Management Inc. now owns 9,668,438 shares of the auto parts company’s stock worth $346,614,000 after purchasing an additional 948,659 shares during the period. American Century Companies Inc. boosted its position in BorgWarner by 18.3% in the third quarter. American Century Companies Inc. now owns 4,189,541 shares of the auto parts company’s stock valued at $169,132,000 after buying an additional 648,633 shares during the last quarter. Earnest Partners LLC increased its holdings in BorgWarner by 1.1% in the 1st quarter. Earnest Partners LLC now owns 3,310,639 shares of the auto parts company’s stock worth $115,012,000 after buying an additional 35,709 shares during the period. Finally, Northern Trust Corp increased its holdings in BorgWarner by 6.5% in the 3rd quarter. Northern Trust Corp now owns 2,780,695 shares of the auto parts company’s stock worth $112,257,000 after buying an additional 170,842 shares during the period. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

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.