Insider Selling: BorgWarner Director Sells 3,500 Shares of Stock (BWA)
BorgWarner (NYSE:BWA) Director Ernest J. Novak, Jr. sold 3,500 shares of BorgWarner stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $62.78, for a total value of $219,730.00. Following the completion of the transaction, the director now directly owns 41,357 shares in the company, valued at approximately $2,596,392. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
BorgWarner (NYSE:BWA) traded up 1.32% on Wednesday, hitting $63.72. 946,746 shares of the company’s stock traded hands. BorgWarner has a 52 week low of $47.145 and a 52 week high of $67.49. The stock has a 50-day moving average of $64.10 and a 200-day moving average of $62.02. The company has a market cap of $14.554 billion and a price-to-earnings ratio of 21.99.
BorgWarner (NYSE:BWA) last released its earnings data on Thursday, July 31st. The company reported $0.89 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.87 by $0.02. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company posted $1.50 earnings per share. BorgWarner’s revenue was up 16.0% compared to the same quarter last year. Analysts expect that BorgWarner will post $3.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Thursday, August 28th. This is a positive change from BorgWarner’s previous quarterly dividend of $0.13.
BWA has been the subject of a number of recent research reports. Analysts at Credit Suisse initiated coverage on shares of BorgWarner in a research note on Wednesday, August 13th. They set a “neutral” rating and a $67.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of BorgWarner in a research note on Monday, August 4th. They now have a $64.00 price target on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of BorgWarner from $75.00 to $78.00 in a research note on Friday, August 1st. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $74.67.
BorgWarner Inc, is a global supplier of engineered automotive systems and components primarily for powertrain applications.
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