Wealth Enhancement Advisory Services LLC Buys 1,579 Shares of BorgWarner Inc. (NYSE:BWA)

Wealth Enhancement Advisory Services LLC lifted its stake in BorgWarner Inc. (NYSE:BWA) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,608 shares of the auto parts company’s stock after buying an additional 1,579 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in BorgWarner were worth $2,210,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Parkside Investments LLC lifted its stake in BorgWarner by 1.3% during the first quarter. Parkside Investments LLC now owns 199,369 shares of the auto parts company’s stock worth $6,926,000 after purchasing an additional 2,480 shares during the last quarter. Riverview Trust Co bought a new stake in BorgWarner during the first quarter worth $30,000. CGN Advisors LLC lifted its stake in BorgWarner by 17.1% during the first quarter. CGN Advisors LLC now owns 35,242 shares of the auto parts company’s stock worth $1,224,000 after purchasing an additional 5,134 shares during the last quarter. Lloyd Advisory Services LLC. bought a new stake in BorgWarner during the first quarter worth $829,000. Finally, Clarus Wealth Advisors bought a new stake in BorgWarner during the first quarter worth $226,000. 95.67% of the stock is currently owned by institutional investors.

BorgWarner Stock Performance

BWA stock opened at $31.89 on Friday. The stock has a 50-day moving average price of $34.70 and a 200-day moving average price of $33.77. BorgWarner Inc. has a 1-year low of $29.51 and a 1-year high of $47.05. 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 firm has a market cap of $7.27 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 0.77 and a beta of 1.22.

BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.16. BorgWarner had a return on equity of 15.33% and a net margin of 4.02%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period last year, the company posted $1.09 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts expect that BorgWarner Inc. will post 4.05 earnings per share for the current year.

BorgWarner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Monday, June 3rd. BorgWarner’s dividend payout ratio (DPR) is presently 16.67%.

BorgWarner announced that its Board of Directors has approved a stock buyback plan on Thursday, May 2nd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the auto parts company to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

BWA has been the subject of several research analyst reports. Oppenheimer upped their price target on shares of BorgWarner from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a research note on Thursday. Wells Fargo & Company dropped their price target on BorgWarner from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday, June 25th. TD Cowen increased their price target on BorgWarner from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Piper Sandler initiated coverage on BorgWarner in a research note on Friday, March 15th. They issued an “overweight” rating and a $43.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.71.

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.