BorgWarner Inc. (NYSE:BWA – Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $49.92, but opened at $44.37. BorgWarner shares last traded at $44.78, with a volume of 419,183 shares.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on BWA shares. Citigroup cut their target price on BorgWarner from $53.00 to $50.00 in a research report on Tuesday, May 16th. Bank of America upgraded shares of BorgWarner from a “neutral” rating to a “buy” rating and boosted their price target for the company from $54.00 to $67.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their target price on BorgWarner from $58.00 to $56.00 in a report on Friday, May 5th. Wells Fargo & Company reduced their price objective on BorgWarner from $56.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, April 10th. Finally, Robert W. Baird raised their target price on BorgWarner from $48.00 to $50.00 in a research note on Thursday. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $53.73.
BorgWarner Trading Up 3.9 %
The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 0.71 and a beta of 1.42. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.16 and a current ratio of 1.59. The business’s 50-day simple moving average is $46.36 and its 200-day simple moving average is $46.40.
BorgWarner Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.51%. The ex-dividend date was Wednesday, May 31st. BorgWarner’s payout ratio is 16.63%.
Insider Buying and Selling at BorgWarner
In other news, Director Alexis P. Michas sold 7,173 shares of BorgWarner stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $44.45, for a total transaction of $318,839.85. Following the transaction, the director now directly owns 76,441 shares of the company’s stock, valued at $3,397,802.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other BorgWarner news, VP Stefan Demmerle sold 5,000 shares of BorgWarner stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $47.61, for a total value of $238,050.00. Following the transaction, the vice president now owns 177,614 shares of the company’s stock, valued at $8,456,202.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexis P. Michas sold 7,173 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $44.45, for a total transaction of $318,839.85. Following the completion of the transaction, the director now owns 76,441 shares of the company’s stock, valued at approximately $3,397,802.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,383 shares of company stock valued at $566,697. Corporate insiders own 0.45% of the company’s stock.
Hedge Funds Weigh In On BorgWarner
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BWA. TCI Wealth Advisors Inc. lifted its holdings in shares of BorgWarner by 485.5% in the fourth quarter. TCI Wealth Advisors Inc. now owns 767 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 636 shares in the last quarter. Lindbrook Capital LLC lifted its position in BorgWarner by 110.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,000 shares of the auto parts company’s stock worth $40,000 after buying an additional 524 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of BorgWarner by 72.2% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 816 shares of the auto parts company’s stock worth $40,000 after buying an additional 342 shares during the last quarter. AllSquare Wealth Management LLC bought a new position in shares of BorgWarner in the 1st quarter valued at about $43,000. Finally, Belpointe Asset Management LLC acquired a new stake in shares of BorgWarner in the fourth quarter valued at about $49,000. 91.84% of the stock is owned by institutional investors and hedge funds.
About BorgWarner
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. The company operates through four segments: Air Management, E-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging.
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