Lecap Asset Management Ltd. Invests $1.09 Million in BorgWarner Inc. (NYSE:BWA)

Lecap Asset Management Ltd. purchased a new stake in BorgWarner Inc. (NYSE:BWA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 33,848 shares of the auto parts company’s stock, valued at approximately $1,091,000.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of BorgWarner by 211.8% during the fourth quarter. International Assets Investment Management LLC now owns 70,051 shares of the auto parts company’s stock worth $25,110,000 after acquiring an additional 47,581 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in BorgWarner during the 4th quarter worth about $509,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in BorgWarner by 9.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 699,974 shares of the auto parts company’s stock valued at $25,094,000 after purchasing an additional 59,925 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of BorgWarner by 6.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 20,939 shares of the auto parts company’s stock valued at $751,000 after purchasing an additional 1,250 shares during the last quarter. Finally, abrdn plc grew its position in shares of BorgWarner by 68.5% during the 4th quarter. abrdn plc now owns 101,523 shares of the auto parts company’s stock worth $3,640,000 after buying an additional 41,283 shares during the period. Institutional investors own 95.67% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Tonit M. Calaway sold 10,868 shares of BorgWarner stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $31.74, for a total value of $344,950.32. Following the completion of the sale, the chief accounting officer now directly owns 206,083 shares in the company, valued at $6,541,074.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Tonit M. Calaway sold 10,868 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $31.74, for a total value of $344,950.32. Following the transaction, the chief accounting officer now owns 206,083 shares in the company, valued at $6,541,074.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tania Wingfield sold 2,066 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,472,512. The disclosure for this sale can be found here. Company insiders own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BWA shares. StockNews.com raised shares of BorgWarner from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on BorgWarner from $50.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, August 5th. UBS Group raised their target price on BorgWarner from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Citigroup lowered 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. Finally, Barclays lifted their price objective on shares of BorgWarner from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, BorgWarner presently has an average rating of “Moderate Buy” and a consensus price target of $41.07.

BorgWarner Stock Performance

Shares of BWA traded up $0.57 during trading hours on Wednesday, hitting $33.08. The company had a trading volume of 1,759,430 shares, compared to its average volume of 2,842,518. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 0.78 and a beta of 1.22. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $32.65 and a 200-day moving average of $33.34. BorgWarner Inc. has a 12 month low of $29.51 and a 12 month high of $42.27.

BorgWarner (NYSE:BWA) last posted its earnings results on Wednesday, July 31st. The auto parts company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.01 by $0.18. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.69 billion. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.35 earnings per share. Equities analysts anticipate that BorgWarner Inc. will post 4.06 EPS for the current fiscal year.

BorgWarner declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 2nd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the auto parts company to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

BorgWarner Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Tuesday, September 3rd. BorgWarner’s dividend payout ratio 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.