Alpha Omega Wealth Management LLC Grows Position in BorgWarner Inc. (NYSE:BWA)

Alpha Omega Wealth Management LLC raised its holdings in BorgWarner Inc. (NYSE:BWA) by 91.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 15,681 shares of the auto parts company’s stock after acquiring an additional 7,472 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in BorgWarner were worth $545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Treasurer of the State of North Carolina increased its position in shares of BorgWarner by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 172,010 shares of the auto parts company’s stock valued at $6,944,000 after purchasing an additional 633 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of BorgWarner by 397.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 19,038 shares of the auto parts company’s stock valued at $769,000 after purchasing an additional 15,214 shares during the last quarter. Bank of Nova Scotia increased its position in shares of BorgWarner by 1.8% during the 3rd quarter. Bank of Nova Scotia now owns 21,842 shares of the auto parts company’s stock valued at $882,000 after purchasing an additional 389 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of BorgWarner during the 3rd quarter valued at about $180,000. Finally, Jones Financial Companies Lllp bought a new position in shares of BorgWarner during the 3rd quarter valued at about $69,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BWA shares. Wells Fargo & Company reduced their price objective on BorgWarner from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday. Oppenheimer raised their target price on shares of BorgWarner from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. TD Cowen upped their price target on shares of BorgWarner from $36.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Barclays raised their price target on shares of BorgWarner from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Finally, Citigroup upped 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. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, BorgWarner has an average rating of “Moderate Buy” and a consensus price target of $43.71.

BorgWarner Stock Up 0.8 %

BWA traded up $0.24 during midday trading on Friday, reaching $32.24. The company’s stock had a trading volume of 4,686,839 shares, compared to its average volume of 3,199,746. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.78 and a beta of 1.28. 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 Inc. has a 1 year low of $29.51 and a 1 year high of $50.04. The stock’s 50-day moving average is $34.81 and its 200-day moving average is $33.84.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data 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. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.51 billion. BorgWarner had a net margin of 4.02% and a return on equity of 15.33%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 earnings per share. As a group, research analysts expect that BorgWarner Inc. will post 4.05 EPS for the current year.

BorgWarner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Monday, June 3rd. BorgWarner’s dividend payout ratio (DPR) is presently 16.67%.

BorgWarner declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 2nd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the auto parts company to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.