BorgWarner Inc. (BWA) Sees Large Volume Increase
Shares of BorgWarner Inc. (NYSE:BWA) saw unusually-strong trading volume on Tuesday . Approximately 1,524,806 shares traded hands during mid-day trading, a decline of 9% from the previous session’s volume of 1,667,912 shares.The stock last traded at $34.20 and had previously closed at $34.00.
Several analysts have recently weighed in on BWA shares. TheStreet lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a research note on Thursday, June 2nd. Zacks Investment Research downgraded shares of BorgWarner from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Robert W. Baird reissued a “buy” rating on shares of BorgWarner in a research report on Tuesday, June 28th. Bank of America Corp. downgraded shares of BorgWarner from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. Finally, Buckingham Research started coverage on shares of BorgWarner in a research report on Tuesday, August 2nd. They issued a “neutral” rating and a $33.00 price target for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $42.21.
The stock has a market cap of $7.36 billion and a price-to-earnings ratio of 12.42. The stock’s 50 day moving average price is $33.25 and its 200 day moving average price is $34.06.
BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The firm earned $2.33 billion during the quarter, compared to the consensus estimate of $2.33 billion. BorgWarner’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 EPS. On average, equities analysts anticipate that BorgWarner Inc. will post $3.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be paid a $0.13 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.51%.
In other news, VP Brady D. Ericson sold 17,132 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $33.69, for a total value of $577,177.08. Following the sale, the vice president now directly owns 25,502 shares of the company’s stock, valued at $859,162.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Brady D. Ericson sold 16,240 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $33.77, for a total value of $548,424.80. Following the completion of the sale, the vice president now directly owns 70,156 shares in the company, valued at $2,369,168.12. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in BorgWarner stock. Principal Financial Group Inc. increased its position in BorgWarner Inc. (NYSE:BWA) by 1.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 324,570 shares of the company’s stock after buying an additional 3,159 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of BorgWarner worth $14,032,000 at the end of the most recent reporting 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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