BorgWarner Inc. (NYSE:BWA) Short Interest Up 8.2% in March

BorgWarner Inc. (NYSE:BWA) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 12,600,000 shares, an increase of 8.2% from the March 15th total of 11,640,000 shares. Approximately 5.5% of the shares of the company are sold short. Based on an average trading volume of 2,970,000 shares, the days-to-cover ratio is currently 4.2 days.

Insider Buying and Selling at BorgWarner

In other BorgWarner news, VP Stefan Demmerle sold 3,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total transaction of $99,000.00. Following the transaction, the vice president now owns 249,013 shares in the company, valued at approximately $8,217,429. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Stefan Demmerle sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $33.00, for a total transaction of $99,000.00. Following the sale, the vice president now owns 249,013 shares in the company, valued at approximately $8,217,429. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Tonit M. Calaway sold 35,603 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $32.15, for a total transaction of $1,144,636.45. Following the transaction, the chief accounting officer now owns 83,348 shares of the company’s stock, valued at $2,679,638.20. The disclosure for this sale can be found here. Insiders have sold a total of 287,503 shares of company stock valued at $9,015,478 in the last three months. 0.63% of the stock is currently owned by company insiders.

Institutional Trading of BorgWarner

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BWA. Headlands Technologies LLC acquired a new stake in shares of BorgWarner in the 3rd quarter worth about $28,000. EdgeRock Capital LLC purchased a new stake in shares of BorgWarner in the fourth quarter worth approximately $30,000. Riverview Trust Co bought a new position in shares of BorgWarner in the first quarter valued at approximately $30,000. Sound Income Strategies LLC purchased a new position in shares of BorgWarner during the fourth quarter valued at approximately $32,000. Finally, Bruce G. Allen Investments LLC bought a new stake in BorgWarner during the fourth quarter worth $33,000. 95.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BWA shares. JPMorgan Chase & Co. dropped their target price on shares of BorgWarner from $59.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. BNP Paribas lowered shares of BorgWarner from an “outperform” rating to a “neutral” rating and cut their target price for the company from $43.00 to $35.00 in a research report on Tuesday, February 20th. TheStreet cut BorgWarner from a “b-” rating to a “c+” rating in a research note on Thursday, February 8th. Piper Sandler initiated coverage on BorgWarner in a research report on Friday, March 15th. They set an “overweight” rating and a $43.00 price objective on the stock. Finally, Wells Fargo & Company dropped their target price on BorgWarner from $47.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.30.

BorgWarner Trading Down 2.1 %

Shares of BWA stock traded down $0.69 during mid-day trading on Wednesday, hitting $32.44. The company’s stock had a trading volume of 2,847,234 shares, compared to its average volume of 2,618,281. The company has a market cap of $7.45 billion, a PE ratio of 12.15, a P/E/G ratio of 0.99 and a beta of 1.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.30 and a current ratio of 1.65. The company’s fifty day simple moving average is $32.52 and its 200-day simple moving average is $34.23. BorgWarner has a 52 week low of $29.51 and a 52 week high of $50.04.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, February 8th. The auto parts company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.03). The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.62 billion. BorgWarner had a net margin of 3.94% and a return on equity of 14.69%. BorgWarner’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. As a group, equities research analysts expect that BorgWarner will post 3.9 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.11 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.44 annualized dividend and a dividend yield of 1.36%. BorgWarner’s dividend payout ratio is currently 16.48%.

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.