DoubleLine ETF Adviser LP Buys Shares of 6,827 BorgWarner Inc. (NYSE:BWA)

DoubleLine ETF Adviser LP purchased a new position in BorgWarner Inc. (NYSE:BWA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,827 shares of the auto parts company’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Riverview Trust Co bought a new stake in BorgWarner in the first quarter worth $30,000. LRI Investments LLC raised its position in shares of BorgWarner by 2,685.3% in the 2nd quarter. LRI Investments LLC now owns 947 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 913 shares during the last quarter. Sentry Investment Management LLC bought a new position in BorgWarner in the 2nd quarter worth about $32,000. Olistico Wealth LLC purchased a new stake in BorgWarner during the 2nd quarter valued at about $35,000. Finally, Whittier Trust Co. of Nevada Inc. increased 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 purchasing an additional 1,093 shares in the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Insider Activity

In related news, EVP Tania Wingfield sold 2,066 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.00, for a total value of $66,112.00. Following the completion of the sale, the executive vice president now directly owns 46,016 shares of the company’s stock, valued at approximately $1,472,512. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BorgWarner news, EVP Tania Wingfield sold 2,066 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.00, for a total value of $66,112.00. Following the completion of the transaction, the executive vice president now directly owns 46,016 shares in the company, valued at $1,472,512. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Tonit M. Calaway sold 10,868 shares of the 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 completion of the sale, the chief accounting officer now directly owns 206,083 shares of the company’s stock, valued at $6,541,074.42. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Bank of America dropped their target price on shares of BorgWarner from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Barclays increased their target price on BorgWarner from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Citigroup decreased their price target on BorgWarner from $41.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Wolfe Research began coverage on BorgWarner in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, UBS Group lifted 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. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.07.

BorgWarner Stock Performance

Shares of NYSE BWA opened at $35.80 on Friday. BorgWarner Inc. has a 12-month low of $29.51 and a 12-month high of $41.06. The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 0.94 and a beta of 1.20. The company has a current ratio of 1.62, a quick ratio of 1.26 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $32.95 and a 200 day moving average of $33.67.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.18. BorgWarner had a net margin of 4.97% and a return on equity of 15.50%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the firm posted $1.35 EPS. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. On average, research analysts anticipate that BorgWarner Inc. will post 4.1 earnings per share for the current year.

BorgWarner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Tuesday, September 3rd. BorgWarner’s dividend payout ratio (DPR) is currently 16.67%.

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.