BorgWarner Inc. (BWA) Stock Price Down 5%
BorgWarner Inc. (NYSE:BWA) shares dropped 5% during trading on Thursday . The company traded as low as $31.94 and last traded at $32.49, with a volume of 2,335,495 shares trading hands. The stock had previously closed at $34.21.
BWA has been the topic of a number of recent research reports. Robert W. Baird reiterated a “buy” rating on shares of BorgWarner in a research report on Tuesday, June 28th. TheStreet upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a research report on Tuesday, April 26th. Wells Fargo & Co. cut shares of BorgWarner to a “buy” rating in a research report on Wednesday, April 27th. Zacks Investment Research upgraded shares of BorgWarner from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Tuesday, April 12th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of BorgWarner in a research report on Saturday, April 2nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $42.92.
The firm has a market capitalization of $7.19 billion and a P/E ratio of 12.00. The company has a 50 day moving average price of $31.77 and a 200 day moving average price of $33.48.
BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.02. The business earned $2.33 billion during the quarter, compared to analysts’ expectations of $2.33 billion. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 earnings per share. On average, equities research analysts expect that BorgWarner Inc. will post $3.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be issued a $0.13 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.57%.
In related news, Director Dennis C. Cuneo sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $33.53, for a total value of $83,825.00. Following the transaction, the director now directly owns 21,407 shares of the company’s stock, valued at approximately $717,776.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Ronald T. Hundzinski sold 3,721 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $35.06, for a total value of $130,458.26. Following the completion of the transaction, the chief financial officer now directly owns 132,947 shares in the company, valued at $4,661,121.82. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have bought and sold shares of BWA. Vanguard Group Inc. boosted its position in BorgWarner by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 19,048,861 shares of the company’s stock worth $823,483,000 after buying an additional 455,193 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of BorgWarner by 19.7% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 7,401,984 shares of the company’s stock valued at $319,988,000 after buying an additional 1,216,886 shares during the period. Cedar Hill Associates LLC boosted its stake in shares of BorgWarner by 0.4% in the fourth quarter. Cedar Hill Associates LLC now owns 178,825 shares of the company’s stock valued at $7,731,000 after buying an additional 800 shares during the period. Dean Investment Associates LLC boosted its stake in shares of BorgWarner by 531.6% in the fourth quarter. Dean Investment Associates LLC now owns 84,110 shares of the company’s stock valued at $3,636,000 after buying an additional 70,793 shares during the period. Finally, Trilogy Global Advisors LP boosted its stake in shares of BorgWarner by 401.0% in the fourth quarter. Trilogy Global Advisors LP now owns 558,189 shares of the company’s stock valued at $24,130,000 after buying an additional 446,782 shares during the period.
BorgWarner Inc is a supplier of engineered automotive systems and components for powertrain applications. The Company operates through two segments: Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Drivetrain segment’s products include transmission components and systems, all-wheel drive (AWD) torque transfer systems and rotating electrical devices.
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