BorgWarner (NYSE:BWA) Given New $51.00 Price Target at JPMorgan Chase & Co.

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

BWA has been the topic of several other reports. 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. Wells Fargo & Company reduced their price target on BorgWarner from $44.00 to $42.00 and set an overweight rating on the stock in a report on Thursday, August 1st. Oppenheimer boosted their price objective on BorgWarner from $39.00 to $40.00 and gave the company an outperform rating in a report on Friday, May 3rd. Robert W. Baird increased their target price on BorgWarner from $38.00 to $39.00 and gave the stock a neutral rating in a research note on Thursday, August 1st. Finally, Citigroup lowered their target price on shares of BorgWarner from $41.00 to $36.00 and set a neutral rating for the company in a research note on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $41.41.

BorgWarner Trading Down 1.6 %

BWA traded down $0.51 on Monday, hitting $31.86. The company had a trading volume of 2,952,155 shares, compared to its average volume of 2,882,753. BorgWarner has a 12-month low of $29.51 and a 12-month high of $42.78. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The business’s fifty 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 PE ratio of 12.21, a PEG ratio of 0.78 and a beta of 1.22.

BorgWarner (NYSE:BWA) last released 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 firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.69 billion. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.35 EPS. Equities research analysts expect that BorgWarner will post 4.06 EPS for the current year.

BorgWarner Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Tuesday, September 3rd. BorgWarner’s dividend payout ratio (DPR) is currently 16.67%.

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

Insider Buying and Selling at BorgWarner

In other news, CAO Tonit M. Calaway sold 10,868 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $31.74, for a total transaction of $344,950.32. Following the transaction, the chief accounting officer now directly owns 206,083 shares of the company’s stock, valued at $6,541,074.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.45% of the stock is owned by insiders.

Institutional Investors Weigh In On BorgWarner

Several institutional investors and hedge funds have recently made changes to their positions in BWA. EdgeRock Capital LLC acquired a new stake in BorgWarner during the 4th quarter worth about $30,000. Riverview Trust Co purchased a new stake in BorgWarner in the first quarter valued at approximately $30,000. LRI Investments LLC acquired a new position in BorgWarner in the 1st quarter worth approximately $35,000. Olistico Wealth LLC purchased a new position in BorgWarner during the 2nd quarter worth approximately $35,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in BorgWarner by 12,144.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,102 shares of the auto parts company’s stock valued at $38,000 after acquiring an additional 1,093 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.

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.