BorgWarner Inc. (BWA) Hits New 1-Year High at $51.78
BorgWarner Inc. (NYSE:BWA) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $51.78 and last traded at $51.78, with a volume of 1,198,202 shares. The stock had previously closed at $51.23.
Several brokerages have recently issued reports on BWA. Morgan Stanley dropped their target price on shares of BorgWarner from $34.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, June 9th. Jefferies Group LLC reissued a “buy” rating and set a $56.00 price target on shares of BorgWarner in a research report on Tuesday, August 29th. Zacks Investment Research raised shares of BorgWarner from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Wednesday, June 7th. ValuEngine lowered shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, BMO Capital Markets restated an “outperform” rating and issued a $55.00 price objective (up from $50.00) on shares of BorgWarner in a report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $44.20.
The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 57.76 and a beta of 1.76. The stock has a 50-day moving average of $47.34 and a 200 day moving average of $43.74.
BorgWarner (NYSE:BWA) last released its earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.07. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the firm earned $0.84 EPS. BorgWarner’s revenue was up 2.5% compared to the same quarter last year. Equities analysts anticipate that BorgWarner Inc. will post $3.70 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a dividend of $0.14 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.08%. BorgWarner’s payout ratio is currently 62.92%.
In related news, insider Brady D. Ericson sold 11,052 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $45.38, for a total value of $501,539.76. Following the completion of the transaction, the insider now owns 23,418 shares in the company, valued at approximately $1,062,708.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tonit M. Calaway sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $44.99, for a total value of $134,970.00. Following the completion of the transaction, the executive vice president now owns 34,120 shares of the company’s stock, valued at approximately $1,535,058.80. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of BWA. CIBC Asset Management Inc increased its holdings in shares of BorgWarner by 0.3% in the second quarter. CIBC Asset Management Inc now owns 19,211 shares of the auto parts company’s stock valued at $814,000 after purchasing an additional 61 shares during the period. Hanson & Doremus Investment Management raised its stake in shares of BorgWarner by 0.9% in the second quarter. Hanson & Doremus Investment Management now owns 8,895 shares of the auto parts company’s stock worth $377,000 after purchasing an additional 75 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of BorgWarner by 0.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,846 shares of the auto parts company’s stock worth $788,000 after purchasing an additional 77 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in shares of BorgWarner by 1.3% in the second quarter. Contravisory Investment Management Inc. now owns 6,356 shares of the auto parts company’s stock worth $269,000 after purchasing an additional 79 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. raised its stake in shares of BorgWarner by 1.7% in the second quarter. Cutter & CO Brokerage Inc. now owns 5,270 shares of the auto parts company’s stock worth $223,000 after purchasing an additional 90 shares during the last quarter. 91.09% of the stock is owned by institutional investors.
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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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