BorgWarner Inc. (NYSE:BWA) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 9.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 23,011 shares of the auto parts company’s stock after purchasing an additional 2,072 shares during the quarter. Daiwa Securities Group Inc.’s holdings in BorgWarner were worth $799,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Nordea Investment Management AB boosted its holdings in shares of BorgWarner by 3.3% during the 1st quarter. Nordea Investment Management AB now owns 1,905,907 shares of the auto parts company’s stock worth $66,230,000 after purchasing an additional 61,300 shares during the last quarter. BNP Paribas purchased a new position in shares of BorgWarner during the 1st quarter worth $865,000. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of BorgWarner by 4.9% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,655 shares of the auto parts company’s stock valued at $301,000 after purchasing an additional 402 shares during the period. Janney Montgomery Scott LLC increased its position in BorgWarner by 16.4% during the first quarter. Janney Montgomery Scott LLC now owns 33,040 shares of the auto parts company’s stock worth $1,148,000 after purchasing an additional 4,650 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in BorgWarner by 11.2% during the first quarter. Sequoia Financial Advisors LLC now owns 510,522 shares of the auto parts company’s stock worth $17,736,000 after purchasing an additional 51,318 shares during the period. Institutional investors and hedge funds own 95.67% of the company’s stock.

BorgWarner Trading Up 1.4 %

BWA opened at $32.09 on Thursday. The business has a fifty day moving average price of $34.57 and a 200 day moving average price of $33.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 1.20. BorgWarner Inc. has a 12 month low of $29.51 and a 12 month high of $47.05. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 0.83 and a beta of 1.22.

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

BorgWarner declared that its board has approved a share repurchase plan on Thursday, May 2nd that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the auto parts company to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

BorgWarner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Monday, June 3rd. BorgWarner’s dividend payout ratio is presently 16.67%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BWA shares. Robert W. Baird upped their price objective on BorgWarner from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Oppenheimer increased their price target on BorgWarner from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. UBS Group boosted their price objective on shares of BorgWarner from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup increased their target price on shares of BorgWarner from $33.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. 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 report on Tuesday, June 25th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.63.

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.