Paloma Partners Management Co Acquires New Stake in BorgWarner Inc. (NYSE:BWA)

Paloma Partners Management Co acquired a new stake in shares of BorgWarner Inc. (NYSE:BWA) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,049 shares of the auto parts company’s stock, valued at approximately $314,000.

Other large investors have also made changes to their positions in the company. EdgeRock Capital LLC acquired a new stake in shares of BorgWarner during the fourth quarter valued at $30,000. Riverview Trust Co acquired a new stake in BorgWarner in the 1st quarter worth about $30,000. LRI Investments LLC acquired a new stake in BorgWarner in the 1st quarter worth about $35,000. Whittier Trust Co. of Nevada Inc. boosted its stake in BorgWarner by 12,144.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,102 shares of the auto parts company’s stock worth $38,000 after buying an additional 1,093 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in BorgWarner in the 4th quarter worth about $40,000. Institutional investors and hedge funds own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

BWA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on BorgWarner from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Bank of America decreased their price target on BorgWarner from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Citigroup decreased their price target on BorgWarner from $41.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. UBS Group raised their price objective on BorgWarner from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, TD Cowen raised their price objective on BorgWarner from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, BorgWarner currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.29.

BorgWarner Stock Down 0.9 %

NYSE BWA traded down $0.28 during mid-day trading on Tuesday, reaching $32.44. 930,259 shares of the company’s stock traded hands, compared to its average volume of 2,827,795. BorgWarner Inc. has a 1-year low of $29.51 and a 1-year high of $46.75. The company has a fifty day simple moving average of $33.51 and a 200-day simple moving average of $33.45. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 0.76 and a beta of 1.22.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.16. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates 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 last year, the firm earned $1.09 EPS. As a group, equities research analysts expect that BorgWarner Inc. will post 4.01 EPS for the current year.

BorgWarner Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be given a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.44 annualized dividend and a dividend yield of 1.36%. BorgWarner’s payout ratio is 16.67%.

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

BorgWarner 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.