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

BorgWarner Inc. (NYSE:BWA - Get Free Report) shares 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.

Analyst Ratings Changes

A number of equities analysts have issued reports on BWA shares. Barclays lifted their price target on BorgWarner from $40.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, April 11th. Robert W. Baird lowered BorgWarner from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $45.00 to $39.00 in a research report on Wednesday, January 3rd. The Goldman Sachs Group dropped their price objective on BorgWarner from $38.00 to $34.00 and set a "neutral" rating on the stock in a research note on Friday, February 9th. BNP Paribas lowered shares of BorgWarner from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $43.00 to $35.00 in a research note on Tuesday, February 20th. Finally, StockNews.com lowered shares of BorgWarner from a "buy" rating to a "hold" rating in a research report on Friday, February 9th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.30.

BorgWarner Trading Up 8.4 %

The company has a market cap of $8.19 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.98 and a beta of 1.30. 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 firm has a fifty day moving average of $32.87 and a two-hundred day moving average of $33.77.

BorgWarner (NYSE:BWA - Get Free Report) last posted its quarterly 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 business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.62 billion. BorgWarner had a net margin of 3.94% and a return on equity of 14.69%. The business's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $1.26 EPS. As a group, sell-side analysts predict that BorgWarner Inc. will post 3.9 EPS for the current year.

BorgWarner Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 1.23%. BorgWarner's dividend payout ratio is presently 16.48%.

Insider Activity

In related news, CEO Frederic Lissalde sold 225,900 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 455,227 shares in the company, valued at $14,148,455.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Stefan Demmerle sold 3,000 shares of the firm's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $31.29, for a total transaction of $93,870.00. Following the transaction, the vice president now directly owns 252,013 shares of the company's stock, valued at approximately $7,885,486.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frederic Lissalde sold 225,900 shares of BorgWarner stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $31.08, for a total transaction of $7,020,972.00. Following the completion of the transaction, the chief executive officer now owns 455,227 shares in the company, valued at approximately $14,148,455.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 287,503 shares of company stock worth $9,015,478. 0.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BorgWarner

A number of large investors have recently modified their holdings of the stock. NewEdge Wealth LLC grew its stake in BorgWarner by 5.8% in the third quarter. NewEdge Wealth LLC now owns 6,206 shares of the auto parts company's stock worth $251,000 after purchasing an additional 339 shares during the period. Verdence Capital Advisors LLC boosted its holdings in shares of BorgWarner by 3.8% during the 1st quarter. Verdence Capital Advisors LLC now owns 9,459 shares of the auto parts company's stock valued at $329,000 after buying an additional 343 shares in the last quarter. Independent Advisor Alliance grew its position in shares of BorgWarner by 4.2% in the 4th quarter. Independent Advisor Alliance now owns 8,774 shares of the auto parts company's stock worth $315,000 after buying an additional 353 shares during the period. Mount Lucas Management LP increased its stake in shares of BorgWarner by 0.8% in the 4th quarter. Mount Lucas Management LP now owns 43,696 shares of the auto parts company's stock worth $1,567,000 after acquiring an additional 354 shares in the last quarter. Finally, Bank of Nova Scotia increased its stake in shares of BorgWarner by 1.8% in the 3rd quarter. Bank of Nova Scotia now owns 21,842 shares of the auto parts company's stock worth $882,000 after acquiring an additional 389 shares in the last quarter. Institutional investors own 95.67% of the company's stock.

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.