BorgWarner (BWA) Trading Down 5.6%
BorgWarner Inc. (NYSE:BWA) shares fell 5.6% during mid-day trading on Thursday . The stock traded as low as $51.86 and last traded at $51.94. 3,527,332 shares were traded during mid-day trading, an increase of 124% from the average session volume of 1,577,646 shares. The stock had previously closed at $55.00.
A number of brokerages recently weighed in on BWA. Zacks Investment Research downgraded shares of BorgWarner from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Barclays restated a “hold” rating and set a $58.00 price objective on shares of BorgWarner in a research report on Sunday, January 21st. ValuEngine upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada restated a “hold” rating and set a $61.00 price objective on shares of BorgWarner in a research report on Wednesday, December 20th. Finally, Oppenheimer began coverage on shares of BorgWarner in a research report on Thursday, December 7th. They set an “outperform” rating and a $63.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $52.59.
The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.55. The stock has a market cap of $10,935.97, a PE ratio of 25.42, a price-to-earnings-growth ratio of 1.45 and a beta of 1.82.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be given a $0.17 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.68 annualized dividend and a yield of 1.29%. BorgWarner’s payout ratio is presently 32.85%.
In other BorgWarner news, VP Joel Wiegert sold 1,400 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $52.35, for a total value of $73,290.00. Following the transaction, the vice president now directly owns 16,197 shares in the company, valued at $847,912.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John J. Gasparovic sold 38,409 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $52.60, for a total transaction of $2,020,313.40. Following the completion of the transaction, the executive vice president now owns 63,937 shares in the company, valued at $3,363,086.20. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Cerebellum GP LLC purchased a new stake in shares of BorgWarner in the fourth quarter worth $119,000. Calton & Associates Inc. purchased a new stake in shares of BorgWarner in the fourth quarter worth $150,000. Zeke Capital Advisors LLC purchased a new stake in shares of BorgWarner in the third quarter worth $201,000. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of BorgWarner in the third quarter worth $202,000. Finally, Rothschild Investment Corp IL purchased a new stake in shares of BorgWarner in the third quarter worth $205,000. 95.13% of the stock is owned by hedge funds and other institutional investors.
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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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