BorgWarner Inc. (NYSE:BWA) Plans Quarterly Dividend of $0.14
BorgWarner Inc. (NYSE:BWA) declared a quarterly dividend on Thursday, July 27th, RTT News reports. Investors of record on Friday, September 1st will be paid a dividend of 0.14 per share by the auto parts company on Friday, September 15th. This represents a $0.56 dividend on an annualized basis and a yield of 1.22%.
BorgWarner has raised its dividend by an average of 28.5% per year over the last three years and has raised its dividend every year for the last 2 years. BorgWarner has a dividend payout ratio of 15.7% meaning its dividend is sufficiently covered by earnings. Analysts expect BorgWarner to earn $3.81 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 14.7%.
Shares of BorgWarner (NYSE:BWA) traded up 2.55% during trading on Thursday, reaching $47.03. 1,525,793 shares of the company were exchanged. BorgWarner has a 1-year low of $31.49 and a 1-year high of $48.03. The stock’s 50 day moving average is $43.60 and its 200 day moving average is $41.79. The company has a market capitalization of $9.98 billion, a price-to-earnings ratio of 69.99 and a beta of 1.72.
BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.07. BorgWarner had a net margin of 1.56% and a return on equity of 20.10%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the business earned $0.84 earnings per share. BorgWarner’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities analysts anticipate that BorgWarner will post $3.58 earnings per share for the current year.
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In related news, insider Ronald T. Hundzinski sold 3,776 shares of the firm’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $41.53, for a total value of $156,817.28. Following the transaction, the insider now owns 141,958 shares of the company’s stock, valued at approximately $5,895,515.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis C. Cuneo sold 1,000 shares of the firm’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 transaction, the director now directly owns 13,398 shares in the company, valued at approximately $590,315.88. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
BWA has been the subject of several research reports. TheStreet upgraded shares of BorgWarner from a “c+” rating to a “b” rating in a research report on Monday, May 1st. Zacks Investment Research upgraded shares of BorgWarner from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Monday, May 22nd. Morgan Stanley lowered their price objective on shares of BorgWarner from $34.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, June 9th. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 price objective on shares of BorgWarner in a research report on Wednesday, May 31st. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $54.00 price objective on shares of BorgWarner in a research report on Wednesday, May 31st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $41.25.
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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