Short Interest in BorgWarner Inc. (NYSE:BWA) Increases By 8.2%

BorgWarner Inc. (NYSE:BWA) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 12,600,000 shares, a growth of 8.2% from the March 15th total of 11,640,000 shares. Currently, 5.5% of the company’s stock are sold short. Based on an average daily trading volume, of 2,970,000 shares, the days-to-cover ratio is presently 4.2 days.

Insider Buying and Selling

In other BorgWarner news, CEO Frederic Lissalde sold 225,900 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $31.08, for a total transaction of $7,020,972.00. Following the transaction, the chief executive officer now directly owns 455,227 shares in the company, valued at approximately $14,148,455.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BorgWarner news, VP Volker Weng sold 20,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $32.85, for a total transaction of $657,000.00. Following the completion of the sale, the vice president now owns 111,964 shares in the company, valued at $3,678,017.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Frederic Lissalde sold 225,900 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $31.08, for a total transaction of $7,020,972.00. Following the completion of the transaction, the chief executive officer now owns 455,227 shares in the company, valued at $14,148,455.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 287,503 shares of company stock worth $9,015,478. Insiders own 0.63% of the company’s stock.

Institutional Trading of BorgWarner

A number of hedge funds have recently bought and sold shares of BWA. Vanguard Group Inc. raised its position in BorgWarner by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 27,147,545 shares of the auto parts company’s stock valued at $973,239,000 after buying an additional 331,401 shares during the period. State Street Corp increased its holdings in shares of BorgWarner by 3.5% in the 2nd quarter. State Street Corp now owns 10,449,304 shares of the auto parts company’s stock valued at $511,075,000 after purchasing an additional 357,259 shares during the period. Victory Capital Management Inc. lifted its position in shares of BorgWarner by 10.9% in the fourth quarter. Victory Capital Management Inc. now owns 9,668,438 shares of the auto parts company’s stock worth $346,614,000 after purchasing an additional 948,659 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of BorgWarner by 3.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 5,463,487 shares of the auto parts company’s stock worth $220,561,000 after purchasing an additional 166,007 shares during the period. Finally, Macquarie Group Ltd. grew its position in BorgWarner by 10.0% during the first quarter. Macquarie Group Ltd. now owns 5,322,946 shares of the auto parts company’s stock valued at $261,410,000 after purchasing an additional 484,794 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

BorgWarner Price Performance

Shares of BWA 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. BorgWarner has a fifty-two week low of $29.51 and a fifty-two week high of $50.04. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 0.99 and a beta of 1.31. The firm has a 50-day moving average price of $32.52 and a 200 day moving average price of $34.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.65 and a quick ratio of 1.30.

BorgWarner (NYSE:BWA) last posted 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 company had revenue of $3.52 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 EPS. On average, research analysts predict that BorgWarner will post 3.9 EPS for the current fiscal year.

BorgWarner Announces Dividend

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

Wall Street Analyst Weigh In

BWA has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on shares of BorgWarner from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. Piper Sandler started coverage on shares of BorgWarner in a report on Friday, March 15th. They set an “overweight” rating and a $43.00 price target for the company. StockNews.com cut shares of BorgWarner from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Robert W. Baird cut shares of BorgWarner from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $45.00 to $39.00 in a research report on Wednesday, January 3rd. Finally, Wells Fargo & Company cut their target price on BorgWarner from $47.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BorgWarner presently has a consensus rating of “Moderate Buy” and an average target price of $44.30.

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.