BorgWarner Inc. (NYSE:BWA) Director Dennis C. Cuneo sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $44.06, for a total transaction of $44,060.00. Following the completion of the sale, the director now owns 13,398 shares in the company, valued at $590,315.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of BorgWarner Inc. (BWA) traded down 5.38% during midday trading on Friday, hitting $40.99. 3,978,995 shares of the stock traded hands. BorgWarner Inc. has a 52-week low of $27.52 and a 52-week high of $45.05. The company has a market cap of $8.70 billion, a price-to-earnings ratio of 61.00 and a beta of 1.62. The stock has a 50-day moving average of $42.16 and a 200-day moving average of $40.91.
BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, April 27th. The auto parts company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.26 billion. BorgWarner had a net margin of 1.56% and a return on equity of 20.10%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 earnings per share. On average, equities analysts predict that BorgWarner Inc. will post $3.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Tuesday, May 30th. BorgWarner’s dividend payout ratio (DPR) is currently 86.16%.
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Several equities analysts recently commented on BWA shares. Zacks Investment Research upgraded shares of BorgWarner from a “sell” rating to a “hold” rating in a report on Tuesday, March 7th. Deutsche Bank AG upgraded shares of BorgWarner from a “hold” rating to a “buy” rating and upped their price target for the company from $41.00 to $51.00 in a report on Wednesday, March 22nd. Jefferies Group LLC set a $48.00 price target on shares of BorgWarner and gave the company a “buy” rating in a report on Thursday, April 6th. TheStreet upgraded shares of BorgWarner from a “c+” rating to a “b” rating in a report on Monday, May 1st. Finally, BMO Capital Markets upped their price target on shares of BorgWarner from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, May 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $40.62.
Several hedge funds and other institutional investors have recently made changes to their positions in BWA. Perigon Wealth Management LLC boosted its position in shares of BorgWarner by 7.4% in the first quarter. Perigon Wealth Management LLC now owns 8,658 shares of the auto parts company’s stock worth $362,000 after buying an additional 600 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of BorgWarner during the first quarter worth $1,318,000. Achmea Investment Management B.V. acquired a new position in shares of BorgWarner during the first quarter worth $376,000. North Star Asset Management Inc. acquired a new position in shares of BorgWarner during the first quarter worth $2,365,000. Finally, Bank of Nova Scotia acquired a new position in shares of BorgWarner during the first quarter worth $1,720,000. Hedge funds and other institutional investors own 93.37% of the company’s stock.
BorgWarner Company Profile
BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.
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