Fifth Third Wealth Advisors LLC Purchases Shares of 6,560 BorgWarner Inc. $BWA

Fifth Third Wealth Advisors LLC purchased a new stake in shares of BorgWarner Inc. (NYSE:BWA) in the second quarter, Holdings Channel.com reports. The firm purchased 6,560 shares of the auto parts company’s stock, valued at approximately $220,000.

A number of other hedge funds have also added to or reduced their stakes in BWA. LSV Asset Management boosted its stake in BorgWarner by 36.7% during the 1st quarter. LSV Asset Management now owns 5,889,080 shares of the auto parts company’s stock valued at $168,722,000 after purchasing an additional 1,580,935 shares during the last quarter. Millennium Management LLC boosted its stake in BorgWarner by 144.7% during the 1st quarter. Millennium Management LLC now owns 2,009,744 shares of the auto parts company’s stock valued at $57,579,000 after purchasing an additional 1,188,466 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. bought a new position in shares of BorgWarner during the 1st quarter worth approximately $28,989,000. Principal Financial Group Inc. lifted its position in shares of BorgWarner by 338.5% during the 1st quarter. Principal Financial Group Inc. now owns 1,085,149 shares of the auto parts company’s stock worth $31,090,000 after buying an additional 837,668 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of BorgWarner by 1,121.2% during the 1st quarter. Public Sector Pension Investment Board now owns 693,551 shares of the auto parts company’s stock worth $19,870,000 after buying an additional 636,757 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group lifted their target price on shares of BorgWarner from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. The Goldman Sachs Group lifted their target price on shares of BorgWarner from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Baird R W raised shares of BorgWarner from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Wells Fargo & Company lifted their target price on shares of BorgWarner from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Finally, Bank of America cut shares of BorgWarner from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $41.00 to $46.00 in a research report on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, BorgWarner currently has a consensus rating of “Moderate Buy” and an average target price of $44.64.

BorgWarner Trading Up 1.3%

NYSE:BWA opened at $41.75 on Wednesday. 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 stock has a market capitalization of $9.03 billion, a PE ratio of 44.41, a price-to-earnings-growth ratio of 1.35 and a beta of 1.09. The firm’s 50 day moving average is $42.70 and its 200 day moving average is $35.68. BorgWarner Inc. has a 12 month low of $24.40 and a 12 month high of $44.97.

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

BorgWarner Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from BorgWarner’s previous quarterly dividend of $0.11. BorgWarner’s payout ratio is presently 72.34%.

BorgWarner declared that its board has approved a share repurchase plan on Thursday, July 31st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the auto parts company to repurchase up to 13.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at BorgWarner

In other BorgWarner news, 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 of the company’s stock, valued at $9,276,120. The trade was a 2.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 directly owned 55,945 shares in the company, valued at $2,238,359.45. The trade was a 4.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,272 shares of company stock valued at $1,263,318 in the last 90 days. 0.63% of the stock is currently owned by company insiders.

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.