BorgWarner (NYSE:BWA) Shares Gap Up to $32.87

BorgWarner Inc. (NYSE:BWA)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $32.87, but opened at $35.49. BorgWarner shares last traded at $35.21, with a volume of 709,774 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BWA shares. Robert W. Baird lowered shares of BorgWarner from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $45.00 to $39.00 in a report on Wednesday, January 3rd. BNP Paribas cut BorgWarner from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $43.00 to $35.00 in a research note on Tuesday, February 20th. Wells Fargo & Company cut their target price on BorgWarner from $47.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Barclays lifted their price target on BorgWarner from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, TheStreet downgraded shares of BorgWarner from a “b-” rating to a “c+” rating in a research report on Thursday, February 8th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.30.

BorgWarner Trading Up 8.5 %

The company has a current ratio of 1.65, a quick ratio of 1.30 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $8.20 billion, a PE ratio of 13.21, a P/E/G ratio of 0.98 and a beta of 1.30. The stock has a 50 day moving average price of $32.87 and a 200-day moving average price of $33.77.

BorgWarner (NYSE:BWA) last announced its earnings results on Thursday, February 8th. The auto parts company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.03). The firm had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.62 billion. BorgWarner had a return on equity of 14.69% and a net margin of 3.94%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 earnings per share. Sell-side analysts expect that BorgWarner Inc. will post 3.9 earnings per share for the current year.

BorgWarner Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.11 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.44 annualized dividend and a yield of 1.23%. BorgWarner’s dividend payout ratio (DPR) is presently 16.48%.

Insiders Place Their Bets

In other news, CEO Frederic Lissalde sold 225,900 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $31.08, for a total value of $7,020,972.00. Following the completion of the transaction, the chief executive officer now owns 455,227 shares of the company’s stock, valued at $14,148,455.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other BorgWarner news, VP Stefan Demmerle sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total transaction of $99,000.00. Following the sale, the vice president now directly owns 249,013 shares of the company’s stock, valued at $8,217,429. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frederic Lissalde sold 225,900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $31.08, for a total value of $7,020,972.00. Following the completion of the sale, the chief executive officer now directly owns 455,227 shares of the company’s stock, valued at $14,148,455.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 287,503 shares of company stock worth $9,015,478. Corporate insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On BorgWarner

Several hedge funds have recently added to or reduced their stakes in BWA. Nordea Investment Management AB lifted its stake in shares of BorgWarner by 3.3% during the 1st quarter. Nordea Investment Management AB now owns 1,905,907 shares of the auto parts company’s stock worth $66,230,000 after acquiring an additional 61,300 shares during the last quarter. BNP Paribas purchased a new stake in BorgWarner in the first quarter worth $865,000. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of BorgWarner by 4.9% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,655 shares of the auto parts company’s stock worth $301,000 after purchasing an additional 402 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of BorgWarner by 16.4% during the first quarter. Janney Montgomery Scott LLC now owns 33,040 shares of the auto parts company’s stock valued at $1,148,000 after purchasing an additional 4,650 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of BorgWarner by 11.2% during the first quarter. Sequoia Financial Advisors LLC now owns 510,522 shares of the auto parts company’s stock valued at $17,736,000 after purchasing an additional 51,318 shares during the period. 95.67% of the stock is currently owned by institutional investors.

About BorgWarner

BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.