Alps Advisors Inc. Makes New $3.19 Million Investment in BorgWarner Inc. $BWA

Alps Advisors Inc. purchased a new stake in shares of BorgWarner Inc. (NYSE:BWA) in the third quarter, Holdings Channel reports. The firm purchased 53,089 shares of the auto parts company’s stock, valued at approximately $3,191,000.

Several other institutional investors have also recently bought and sold shares of the business. Cullen Capital Management LLC bought a new stake in shares of BorgWarner during the second quarter worth about $4,937,000. Tribune Investment Group LP bought a new position in BorgWarner in the 2nd quarter valued at about $3,432,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in BorgWarner in the 2nd quarter valued at about $5,664,000. Hsbc Holdings PLC acquired a new position in BorgWarner during the 2nd quarter valued at about $35,785,000. Finally, First Trust Advisors LP raised its position in BorgWarner by 73.8% in the 1st quarter. First Trust Advisors LP now owns 544,485 shares of the auto parts company’s stock valued at $29,544,000 after buying an additional 231,242 shares during the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

BorgWarner Stock Performance

BWA stock opened at $51.51 on Tuesday. The firm has a market cap of $10.34 billion, a PE ratio of 21.92, a P/E/G ratio of 0.71 and a beta of 1.20. The company has a quick ratio of 1.12, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average of $59.53 and a 200-day moving average of $60.61. BorgWarner Inc. has a 12-month low of $40.73 and a 12-month high of $78.82.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, October 29th. The auto parts company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.14. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.50 billion. BorgWarner had a return on equity of 19.61% and a net margin of 3.36%. BorgWarner’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the business posted $1.24 earnings per share. As a group, sell-side analysts expect that BorgWarner Inc. will post 5.27 earnings per share for the current year.

BorgWarner announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 5th that authorizes the company to buy back $1 billion in outstanding shares. This repurchase authorization authorizes the auto parts company to buy up to 7.7% of its shares through open market purchases. Share repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BWA. Bank of America upgraded BorgWarner from a “neutral” rating to a “buy” rating and raised their price objective for the company from $78.00 to $85.00 in a research note on Thursday, October 15th. TD Cowen lowered their target price on shares of BorgWarner from $68.00 to $67.00 and set a “hold” rating for the company in a report on Friday, October 30th. Barclays lowered their target price on shares of BorgWarner from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, November 2nd. Morgan Stanley dropped their price target on shares of BorgWarner from $95.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of BorgWarner in a report on Friday, September 25th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $79.00.

Insider Buying and Selling at BorgWarner

In other news, CAO Amy B. Kulikowski sold 2,900 shares of BorgWarner stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $68.60, for a total transaction of $198,940.00. Following the sale, the chief accounting officer directly owned 9,725 shares in the company, valued at $667,135. The trade was a 22.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael S. Hanley sold 5,000 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $65.51, for a total transaction of $327,550.00. Following the completion of the transaction, the director directly owned 34,313 shares in the company, valued at $2,247,844.63. This trade represents a 12.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.76% of the company’s stock.

About BorgWarner

BorgWarner Inc is a global automotive supplier that develops and manufactures technologies for passenger vehicles, commercial vehicles and other applications. Its products support vehicles powered by internal combustion engines as well as hybrid and electric vehicles.

The company’s offerings include turbocharging systems, transmission components, electric motors, power electronics, battery and thermal-management systems, and technologies that help control emissions. BorgWarner supplies automakers and commercial-vehicle manufacturers around the world, with operations serving markets across North America, Europe and Asia.

BorgWarner traces its corporate history to 1928, when several automotive suppliers combined to form Borg-Warner Corporation.