Insider Selling: BorgWarner Inc. (BWA) Director Sells 1,000 Shares of Stock
BorgWarner Inc. (NYSE:BWA) Director Dennis C. Cuneo sold 1,000 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $44.06, for a total value of $44,060.00. Following the sale, the director now owns 13,398 shares of the company’s stock, valued at $590,315.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
BorgWarner Inc. (NYSE:BWA) traded down 1.75% on Wednesday, hitting $43.16. The stock had a trading volume of 798,594 shares. BorgWarner Inc. has a 1-year low of $27.52 and a 1-year high of $45.05. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 64.23 and a beta of 1.62. The stock’s 50-day moving average is $42.02 and its 200 day moving average is $40.88.
BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, April 27th. The auto parts company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.26 billion. BorgWarner had a return on equity of 20.10% and a net margin of 1.56%. BorgWarner’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. On average, equities research analysts predict that BorgWarner Inc. will post $3.56 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.27%. BorgWarner’s dividend payout ratio is currently 86.16%.
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BWA has been the subject of several analyst reports. Zacks Investment Research upgraded BorgWarner from a “sell” rating to a “hold” rating in a report on Tuesday, March 7th. Deutsche Bank AG increased their target price on BorgWarner from $51.00 to $54.00 and gave the company a “buy” rating in a report on Friday, April 28th. BMO Capital Markets increased their target price on BorgWarner from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, May 1st. Jefferies Group LLC restated a “buy” rating and set a $50.00 target price (up from $48.00) on shares of BorgWarner in a report on Saturday, April 29th. Finally, Morgan Stanley dropped their target price on BorgWarner from $34.00 to $32.00 and set an “underweight” rating for the company in a report on Friday, June 9th. Three 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. BorgWarner currently has a consensus rating of “Hold” and an average price target of $40.77.
Hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in BorgWarner by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 2,531 shares of the auto parts company’s stock worth $100,000 after buying an additional 142 shares in the last quarter. SRS Capital Advisors Inc. bought a new stake in BorgWarner during the fourth quarter worth $102,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in BorgWarner during the first quarter worth $105,000. Whittier Trust Co. raised its stake in BorgWarner by 6.4% in the first quarter. Whittier Trust Co. now owns 3,165 shares of the auto parts company’s stock worth $132,000 after buying an additional 189 shares in the last quarter. Finally, Global X Management Co. LLC raised its stake in BorgWarner by 29.9% in the first quarter. Global X Management Co. LLC now owns 3,694 shares of the auto parts company’s stock worth $154,000 after buying an additional 851 shares in the last quarter. 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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