Oppenheimer started coverage on shares of BorgWarner (NYSE:BWA) in a research report released on Thursday, December 7th. The brokerage issued an outperform rating and a $63.00 price objective on the auto parts company’s stock.
BWA has been the subject of several other research reports. Zacks Investment Research lowered shares of BorgWarner from a buy rating to a hold rating in a research report on Wednesday, August 30th. Deutsche Bank lowered shares of BorgWarner from a buy rating to a hold rating and set a $55.00 price objective for the company. in a research report on Thursday, October 12th. Barclays set a $50.00 price objective on shares of BorgWarner and gave the stock a hold rating in a research report on Friday, October 20th. Jefferies Group reissued a buy rating and issued a $56.00 price objective on shares of BorgWarner in a research report on Tuesday, August 29th. Finally, ValuEngine lowered shares of BorgWarner from a strong-buy rating to a buy rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $51.12.
Shares of BorgWarner (NYSE BWA) traded up $0.69 on Thursday, hitting $51.78. 1,186,400 shares of the company traded hands, compared to its average volume of 994,750. The company has a quick ratio of 1.10, a current ratio of 1.43 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $10,920.00, a P/E ratio of 37.52, a price-to-earnings-growth ratio of 1.55 and a beta of 1.75. BorgWarner has a fifty-two week low of $37.54 and a fifty-two week high of $55.86.
BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.07. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.26 billion. BorgWarner had a net margin of 3.09% and a return on equity of 21.48%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 earnings per share. equities research analysts expect that BorgWarner will post 3.82 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a $0.17 dividend. This is an increase from BorgWarner’s previous quarterly dividend of $0.14. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, November 30th. BorgWarner’s dividend payout ratio (DPR) is presently 49.28%.
In other news, VP Joel Wiegert sold 1,400 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $52.35, for a total value of $73,290.00. Following the transaction, the vice president now directly owns 16,197 shares in the company, valued at approximately $847,912.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John J. Gasparovic sold 38,409 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $52.60, for a total transaction of $2,020,313.40. Following the completion of the transaction, the executive vice president now owns 63,937 shares in the company, valued at $3,363,086.20. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its stake in BorgWarner by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 19,211 shares of the auto parts company’s stock valued at $814,000 after buying an additional 61 shares during the period. Cutter & CO Brokerage Inc. grew its stake in shares of BorgWarner by 1.7% in the 2nd 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. MML Investors Services LLC grew its stake in shares of BorgWarner by 1.2% in the 2nd quarter. MML Investors Services LLC now owns 7,407 shares of the auto parts company’s stock worth $314,000 after purchasing an additional 91 shares during the last quarter. Mastrapasqua Asset Management Inc. grew its stake in shares of BorgWarner by 0.4% in the 2nd quarter. Mastrapasqua Asset Management Inc. now owns 27,858 shares of the auto parts company’s stock worth $1,180,000 after purchasing an additional 100 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of BorgWarner by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the auto parts company’s stock worth $525,000 after purchasing an additional 100 shares during the last quarter. 95.15% of the stock is currently owned by hedge funds and other institutional investors.
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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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