BorgWarner (NYSE:BWA) Price Target Cut to $29.00 by Analysts at Robert W. Baird

BorgWarner (NYSE:BWA) had its target price cut by Robert W. Baird from $34.00 to $29.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the auto parts company’s stock.

A number of other brokerages also recently commented on BWA. StockNews.com downgraded BorgWarner from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays lowered their target price on BorgWarner from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reduced their price target on shares of BorgWarner from $51.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. TD Cowen lowered shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research report on Friday, March 7th. Finally, Piper Sandler reduced their target price on shares of BorgWarner from $43.00 to $36.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.50.

BorgWarner Stock Down 1.3 %

Shares of NYSE:BWA opened at $26.10 on Tuesday. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 0.77 and a beta of 1.12. The business’s 50 day moving average is $28.58 and its 200 day moving average is $31.75. BorgWarner has a 12-month low of $24.40 and a 12-month high of $38.23. The company has a quick ratio of 1.45, a current ratio of 1.79 and a debt-to-equity ratio of 0.66.

BorgWarner (NYSE:BWA) last announced its earnings results on Thursday, February 6th. The auto parts company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.93 by $0.08. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. On average, sell-side analysts forecast that BorgWarner will post 4.28 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.11 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.44 annualized dividend and a dividend yield of 1.69%. BorgWarner’s payout ratio is currently 30.77%.

Insider Activity at BorgWarner

In other news, EVP Tania Wingfield sold 24,000 shares of BorgWarner stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total transaction of $690,960.00. Following the completion of the sale, the executive vice president now owns 39,110 shares in the company, valued at approximately $1,125,976.90. This trade represents a 38.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Tonit M. Calaway sold 13,500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $30.16, for a total transaction of $407,160.00. Following the completion of the transaction, the chief accounting officer now owns 259,310 shares in the company, valued at approximately $7,820,789.60. This trade represents a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,800 shares of company stock valued at $1,347,701. Company insiders own 0.63% of the company’s stock.

Institutional Trading of BorgWarner

A number of hedge funds have recently made changes to their positions in the stock. Alpha Omega Wealth Management LLC lifted its stake in BorgWarner by 59.8% during the first quarter. Alpha Omega Wealth Management LLC now owns 25,190 shares of the auto parts company’s stock worth $722,000 after purchasing an additional 9,427 shares during the last quarter. CX Institutional bought a new stake in BorgWarner in the 1st quarter worth approximately $98,000. Yousif Capital Management LLC boosted its stake in BorgWarner by 157.3% in the first quarter. Yousif Capital Management LLC now owns 88,879 shares of the auto parts company’s stock worth $2,546,000 after buying an additional 54,333 shares in the last quarter. Tounjian Advisory Partners LLC bought a new position in BorgWarner during the first quarter valued at approximately $1,476,000. Finally, Farther Finance Advisors LLC raised its stake in shares of BorgWarner by 26.1% during the first quarter. Farther Finance Advisors LLC now owns 1,965 shares of the auto parts company’s stock worth $56,000 after acquiring an additional 407 shares in the last quarter. 95.67% of the stock is owned by institutional investors.

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.