Duality Advisers LP Makes New $1.03 Million Investment in BorgWarner Inc. (NYSE:BWA)

Duality Advisers LP purchased a new position in shares of BorgWarner Inc. (NYSE:BWA) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 29,697 shares of the auto parts company’s stock, valued at approximately $1,032,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Leith Wheeler Investment Counsel Ltd. lifted its holdings in shares of BorgWarner by 14.3% in the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 383,185 shares of the auto parts company’s stock valued at $13,312,000 after buying an additional 48,020 shares during the period. Mawer Investment Management Ltd. lifted its holdings in shares of BorgWarner by 22.2% in the 1st quarter. Mawer Investment Management Ltd. now owns 1,181,127 shares of the auto parts company’s stock valued at $41,032,000 after buying an additional 214,525 shares during the period. Biechele Royce Advisors lifted its holdings in shares of BorgWarner by 8.1% in the 1st quarter. Biechele Royce Advisors now owns 424,966 shares of the auto parts company’s stock valued at $14,764,000 after buying an additional 31,902 shares during the period. Mediolanum International Funds Ltd acquired a new position in shares of BorgWarner in the 1st quarter valued at about $833,000. Finally, Boomfish Wealth Group LLC lifted its holdings in shares of BorgWarner by 3.6% in the 1st quarter. Boomfish Wealth Group LLC now owns 34,126 shares of the auto parts company’s stock valued at $1,186,000 after buying an additional 1,186 shares during the period. Institutional investors and hedge funds own 95.67% of the company’s stock.

BorgWarner Price Performance

Shares of NYSE:BWA traded down $0.02 during midday trading on Friday, hitting $33.12. The company had a trading volume of 2,291,812 shares, compared to its average volume of 2,850,146. BorgWarner Inc. has a twelve month low of $29.51 and a twelve month high of $47.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 1.20. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 0.85 and a beta of 1.22. The business’s 50-day simple moving average is $34.52 and its 200-day simple moving average is $33.65.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, May 2nd. The auto parts company reported $1.03 EPS for the quarter, beating 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 analysts’ expectations of $3.51 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts predict that BorgWarner Inc. will post 4.05 earnings per share for the current year.

BorgWarner Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.11 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.44 annualized dividend and a yield of 1.33%. BorgWarner’s dividend payout ratio (DPR) is 16.67%.

BorgWarner announced that its board has initiated a stock repurchase program on Thursday, May 2nd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the auto parts company to buy up to 6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Piper Sandler assumed coverage on BorgWarner in a report on Friday, March 15th. They issued an “overweight” rating and a $43.00 price target for the company. UBS Group upped their price target on BorgWarner from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup reduced their price target on BorgWarner from $41.00 to $36.00 and set a “neutral” rating for the company in a report on Friday. Wells Fargo & Company reduced their price target on BorgWarner from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Tuesday, June 25th. Finally, TD Cowen upped their price target on BorgWarner from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.19.

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.