Gabelli Funds LLC Sells 9,600 Shares of BorgWarner Inc. $BWA

Gabelli Funds LLC trimmed its holdings in BorgWarner Inc. (NYSE:BWA) by 3.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 289,000 shares of the auto parts company’s stock after selling 9,600 shares during the quarter. Gabelli Funds LLC’s holdings in BorgWarner were worth $8,280,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BWA. Trajan Wealth LLC raised its holdings in BorgWarner by 4.6% during the 1st quarter. Trajan Wealth LLC now owns 7,978 shares of the auto parts company’s stock valued at $229,000 after buying an additional 353 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in BorgWarner by 26.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,965 shares of the auto parts company’s stock valued at $56,000 after buying an additional 407 shares during the last quarter. Beverly Hills Private Wealth LLC raised its holdings in BorgWarner by 5.7% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 7,852 shares of the auto parts company’s stock valued at $225,000 after buying an additional 421 shares during the last quarter. Strengthening Families & Communities LLC raised its holdings in BorgWarner by 14.6% during the 1st quarter. Strengthening Families & Communities LLC now owns 3,301 shares of the auto parts company’s stock valued at $95,000 after buying an additional 421 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in BorgWarner by 0.4% during the 4th quarter. Janus Henderson Group PLC now owns 112,559 shares of the auto parts company’s stock valued at $3,580,000 after buying an additional 501 shares during the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BWA shares. Piper Sandler upped their price target on shares of BorgWarner from $37.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 1st. JPMorgan Chase & Co. upped their price target on shares of BorgWarner from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Wells Fargo & Company upped their price target on shares of BorgWarner from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Barclays reissued an “overweight” rating and set a $45.00 price objective (up from $42.00) on shares of BorgWarner in a research report on Wednesday, July 16th. Finally, Evercore ISI boosted their price objective on shares of BorgWarner from $38.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, BorgWarner presently has an average rating of “Moderate Buy” and an average target price of $39.64.

Insiders Place Their Bets

In other news, VP Isabelle Mckenzie sold 2,500 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $40.01, for a total transaction of $100,025.00. Following the sale, the vice president owned 55,945 shares in the company, valued at approximately $2,238,359.45. The trade was a 4.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Stefan Demmerle sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $40.50, for a total transaction of $202,500.00. Following the sale, the vice president owned 229,040 shares in the company, valued at approximately $9,276,120. This trade represents a 2.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,500 shares of company stock worth $892,175. Company insiders own 0.45% of the company’s stock.

BorgWarner Stock Performance

Shares of BWA stock opened at $43.57 on Thursday. BorgWarner Inc. has a 12 month low of $24.40 and a 12 month high of $43.83. The stock has a market cap of $9.43 billion, a PE ratio of 46.36, a price-to-earnings-growth ratio of 1.32 and a beta of 1.10. The company has a current ratio of 2.02, a quick ratio of 1.66 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average price is $37.08 and its 200-day moving average price is $32.33.

BorgWarner (NYSE:BWA) last announced its earnings results on Thursday, July 31st. The auto parts company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. BorgWarner had a net margin of 1.50% and a return on equity of 16.17%. The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter in the previous year, the business posted $1.19 EPS. The company’s quarterly revenue was up 1.0% on a year-over-year basis. BorgWarner has set its FY 2025 guidance at 4.450-4.65 EPS. On average, equities analysts expect that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from BorgWarner’s previous quarterly dividend of $0.11. BorgWarner’s payout ratio is 46.81%.

BorgWarner declared that its Board of Directors has initiated a share buyback program on Thursday, July 31st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the auto parts company to buy up to 13.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

BorgWarner Company 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.