Jefferies Group LLC reaffirmed their buy rating on shares of BorgWarner Inc. (NYSE:BWA) in a report published on Tuesday morning. The brokerage currently has a $48.00 price objective on the auto parts company’s stock.
A number of other research analysts have also commented on the company. TheStreet raised BorgWarner from a c+ rating to a b rating in a report on Monday, May 1st. Zacks Investment Research raised BorgWarner from a hold rating to a buy rating and set a $45.00 price target on the stock in a report on Monday, May 22nd. Deutsche Bank AG raised BorgWarner from a hold rating to a buy rating and raised their price target for the company from $41.00 to $51.00 in a report on Wednesday, March 22nd. Finally, Morgan Stanley lowered their price target on BorgWarner from $34.00 to $32.00 and set an underweight rating on the stock in a report on Friday, June 9th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. BorgWarner presently has a consensus rating of Hold and a consensus target price of $41.07.
BorgWarner (BWA) opened at 44.09 on Tuesday. The stock’s 50 day moving average is $41.98 and its 200-day moving average is $41.14. BorgWarner has a 1-year low of $29.62 and a 1-year high of $45.05. The firm has a market capitalization of $9.36 billion, a PE ratio of 65.61 and a beta of 1.72.
BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, April 27th. The auto parts company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.26 billion. BorgWarner had a return on equity of 20.10% and a net margin of 1.56%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. Equities research analysts forecast that BorgWarner will post $3.57 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.27%. BorgWarner’s dividend payout ratio is currently 86.16%.
In related news, Director Dennis C. Cuneo sold 1,000 shares of BorgWarner stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $44.06, for a total value of $44,060.00. Following the transaction, the director now owns 13,398 shares of the company’s stock, valued at approximately $590,315.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ronald T. Hundzinski sold 3,776 shares of BorgWarner stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $41.53, for a total value of $156,817.28. Following the completion of the transaction, the insider now directly owns 141,958 shares in the company, valued at approximately $5,895,515.74. 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 modified their holdings of the company. Triangle Securities Wealth Management bought a new position in shares of BorgWarner during the first quarter worth $860,000. Macquarie Group Ltd. boosted its position in shares of BorgWarner by 56.4% in the fourth quarter. Macquarie Group Ltd. now owns 433,720 shares of the auto parts company’s stock worth $17,106,000 after buying an additional 156,413 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of BorgWarner during the fourth quarter worth $256,000. Kentucky Retirement Systems bought a new position in shares of BorgWarner during the fourth quarter worth $573,000. Finally, Teachers Advisors LLC boosted its position in shares of BorgWarner by 7.0% in the fourth quarter. Teachers Advisors LLC now owns 282,229 shares of the auto parts company’s stock worth $11,131,000 after buying an additional 18,579 shares in the last quarter. 92.93% of the stock is currently owned by hedge funds and other institutional investors.
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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