Handelsinvest Investeringsforvaltning Decreases Position in BorgWarner Inc. (NYSE:BWA)

Handelsinvest Investeringsforvaltning lessened its holdings in BorgWarner Inc. (NYSE:BWA) by 34.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,875 shares of the auto parts company’s stock after selling 3,570 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in BorgWarner were worth $239,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Alpha Omega Wealth Management LLC lifted its position in shares of BorgWarner by 91.0% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 15,681 shares of the auto parts company’s stock worth $545,000 after purchasing an additional 7,472 shares during the last quarter. Hennessy Advisors Inc. raised its stake in BorgWarner by 43.9% during the 1st quarter. Hennessy Advisors Inc. now owns 92,100 shares of the auto parts company’s stock worth $3,200,000 after acquiring an additional 28,100 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in BorgWarner by 2.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 63,608 shares of the auto parts company’s stock worth $2,210,000 after acquiring an additional 1,579 shares in the last quarter. Parkside Investments LLC increased its stake in BorgWarner by 1.3% in the first quarter. Parkside Investments LLC now owns 199,369 shares of the auto parts company’s stock valued at $6,926,000 after purchasing an additional 2,480 shares during the period. Finally, Riverview Trust Co acquired a new position in BorgWarner in the first quarter valued at $30,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

BorgWarner Price Performance

BWA stock traded down $0.01 during trading on Wednesday, reaching $31.75. 66,179 shares of the company were exchanged, compared to its average volume of 2,871,486. The company has a market cap of $7.23 billion, a P/E ratio of 12.03, a PEG ratio of 0.78 and a beta of 1.22. BorgWarner Inc. has a 52-week low of $29.51 and a 52-week high of $47.05. The stock’s 50 day moving average price is $34.75 and its 200 day moving average price is $33.80. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.54.

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

BorgWarner Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Monday, June 3rd. BorgWarner’s dividend payout ratio is presently 16.67%.

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

Analyst Ratings Changes

A number of research analysts have commented on BWA shares. StockNews.com lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. TD Cowen lifted their price objective on shares of BorgWarner from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Citigroup lifted their price objective on shares of BorgWarner from $33.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Barclays lifted their price objective on shares of BorgWarner from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Finally, Piper Sandler initiated coverage on shares of BorgWarner in a report on Friday, March 15th. They issued an “overweight” rating and a $43.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, BorgWarner currently has a consensus rating of “Moderate Buy” and an average price target of $43.71.

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.