Insider Selling: BorgWarner Inc. (BWA) Insider Sells 11,052 Shares of Stock
BorgWarner Inc. (NYSE:BWA) insider Brady D. Ericson sold 11,052 shares of BorgWarner stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total transaction of $501,539.76. Following the transaction, the insider now directly owns 23,418 shares of the company’s stock, valued at $1,062,708.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
BorgWarner Inc. (NYSE BWA) traded down 0.58% during mid-day trading on Friday, reaching $44.35. 224,911 shares of the company’s stock were exchanged. BorgWarner Inc. has a one year low of $33.09 and a one year high of $48.03. The firm has a market capitalization of $9.36 billion, a P/E ratio of 49.44 and a beta of 1.73. The company’s 50-day moving average is $45.36 and its 200 day moving average is $42.42.
BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.07. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.27 billion. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. Equities analysts predict that BorgWarner Inc. will post $3.70 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, August 30th. BorgWarner’s payout ratio is 62.92%.
A number of research analysts recently issued reports on BWA shares. TheStreet raised shares of BorgWarner from a “c+” rating to a “b” rating in a research report on Monday, May 1st. Jefferies Group LLC reissued a “buy” rating and set a $50.00 price target (up from $48.00) on shares of BorgWarner in a research report on Saturday, April 29th. Deutsche Bank AG lifted their price target on shares of BorgWarner from $51.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Zacks Investment Research raised shares of BorgWarner from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Monday, May 22nd. Finally, ValuEngine cut shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $42.67.
Several hedge funds have recently added to or reduced their stakes in BWA. First Bank & Trust raised its stake in BorgWarner by 0.3% in the first quarter. First Bank & Trust now owns 4,126 shares of the auto parts company’s stock valued at $173,000 after buying an additional 12 shares during the last quarter. Atria Investments LLC raised its stake in BorgWarner by 0.8% in the first quarter. Atria Investments LLC now owns 5,456 shares of the auto parts company’s stock valued at $228,000 after buying an additional 43 shares during the last quarter. CIBC Asset Management Inc raised its stake in BorgWarner by 0.3% in the second 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 last quarter. Hanson & Doremus Investment Management raised its stake in BorgWarner by 0.9% in the second quarter. Hanson & Doremus Investment Management now owns 8,895 shares of the auto parts company’s stock valued at $377,000 after buying an additional 75 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in BorgWarner by 0.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,846 shares of the auto parts company’s stock valued at $788,000 after buying an additional 77 shares during the last quarter. 92.35% of the stock is owned by institutional investors and hedge funds.
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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