JPMorgan Chase & Co. Increases BorgWarner (NYSE:BWA) Price Target to $51.00

BorgWarner (NYSE:BWA) had its target price upped by JPMorgan Chase & Co. from $50.00 to $51.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the auto parts company’s stock.

Other research analysts have also issued research reports about the stock. TD Cowen boosted their target price on shares of BorgWarner from $36.00 to $40.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Barclays raised their price objective on shares of BorgWarner from $45.00 to $47.00 and gave the stock an overweight rating in a research note on Thursday, August 1st. Wells Fargo & Company cut their target price on shares of BorgWarner from $44.00 to $42.00 and set an overweight rating for the company in a research note on Thursday, August 1st. Robert W. Baird raised their price target on shares of BorgWarner from $38.00 to $39.00 and gave the stock a neutral rating in a research report on Thursday, August 1st. Finally, Citigroup cut their price objective on shares of BorgWarner from $41.00 to $36.00 and set a neutral rating for the company in a research report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $41.41.

BorgWarner Stock Down 1.6 %

Shares of BorgWarner stock traded down $0.51 during midday trading on Monday, reaching $31.86. 2,952,155 shares of the company’s stock traded hands, compared to its average volume of 2,882,753. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.20 and a current ratio of 1.62. BorgWarner has a 52 week low of $29.51 and a 52 week high of $42.78. The company’s 50 day simple moving average is $33.27 and its 200 day simple moving average is $33.47. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22.

BorgWarner (NYSE:BWA) last posted its earnings results on Wednesday, July 31st. The auto parts company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.18. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.69 billion. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The business’s revenue was down 20.3% compared to the same quarter last year. During the same period last year, the company earned $1.35 earnings per share. Equities analysts expect that BorgWarner will post 4.06 earnings per share for the current fiscal year.

BorgWarner declared that its Board of Directors has initiated a stock 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 reacquire up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

BorgWarner Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be issued a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.38%. BorgWarner’s dividend payout ratio is 16.67%.

Insiders Place Their Bets

In related news, CAO Tonit M. Calaway sold 10,868 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $31.74, for a total value of $344,950.32. Following the completion of the sale, the chief accounting officer now owns 206,083 shares of the company’s stock, valued at $6,541,074.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On BorgWarner

Hedge funds have recently added to or reduced their stakes in the company. Koss Olinger Consulting LLC acquired a new position in BorgWarner during the 2nd quarter valued at about $2,189,000. Caprock Group LLC boosted its stake in BorgWarner by 143.0% in the second quarter. Caprock Group LLC now owns 16,807 shares of the auto parts company’s stock valued at $542,000 after acquiring an additional 9,891 shares during the last quarter. MainStreet Investment Advisors LLC boosted its stake in BorgWarner by 7.8% in the second quarter. MainStreet Investment Advisors LLC now owns 9,471 shares of the auto parts company’s stock valued at $305,000 after acquiring an additional 682 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in BorgWarner by 0.3% during the 2nd quarter. Great Lakes Advisors LLC now owns 869,304 shares of the auto parts company’s stock worth $28,026,000 after acquiring an additional 2,841 shares during the period. Finally, Savant Capital LLC raised its position in shares of BorgWarner by 210.3% during the 2nd quarter. Savant Capital LLC now owns 28,561 shares of the auto parts company’s stock valued at $921,000 after acquiring an additional 19,357 shares during the last quarter. Institutional investors own 95.67% of the company’s stock.

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.