BorgWarner (NYSE:BWA) Trading Down 4.7% - Here's What Happened

BorgWarner Inc. (NYSE:BWA - Get Free Report) dropped 4.7% during trading on Thursday . The stock traded as low as $28.31 and last traded at $28.82. Approximately 438,275 shares changed hands during trading, a decline of 83% from the average daily volume of 2,635,328 shares. The stock had previously closed at $30.25.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Guggenheim set a $38.00 price target on BorgWarner in a research note on Wednesday, March 5th. Morgan Stanley dropped their price objective on shares of BorgWarner from $45.00 to $40.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group dropped their price target on shares of BorgWarner from $35.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Evercore ISI dropped their target price on BorgWarner from $43.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. Finally, TD Cowen downgraded BorgWarner from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a report on Friday, March 7th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.06.

BorgWarner Trading Up 1.6 %

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45. The firm has a fifty day simple moving average of $30.08 and a two-hundred day simple moving average of $32.43. The firm has a market capitalization of $6.29 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 0.77 and a beta of 1.21.

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BorgWarner (NYSE:BWA - Get Free Report) last issued its earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.08. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. On average, equities research analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Monday, March 3rd. BorgWarner's payout ratio is currently 30.77%.

Insider Buying and Selling

In other news, CAO Tonit M. Calaway sold 8,300 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $30.07, for a total value of $249,581.00. Following the completion of the transaction, the chief accounting officer now directly owns 242,257 shares in the company, valued at approximately $7,284,667.99. This trade represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tania Wingfield sold 24,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total transaction of $690,960.00. Following the sale, the executive vice president now directly owns 39,110 shares in the company, valued at $1,125,976.90. This trade represents a 38.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,800 shares of company stock valued at $1,347,701. Corporate insiders own 0.45% of the company's stock.

Hedge Funds Weigh In On BorgWarner

A number of institutional investors have recently added to or reduced their stakes in BWA. Truist Financial Corp grew its holdings in shares of BorgWarner by 4.0% during the fourth quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company's stock worth $487,000 after purchasing an additional 595 shares in the last quarter. State of Alaska Department of Revenue grew its stake in BorgWarner by 96.3% in the 4th quarter. State of Alaska Department of Revenue now owns 51,935 shares of the auto parts company's stock worth $1,650,000 after buying an additional 25,475 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of BorgWarner in the 4th quarter worth $1,197,000. Wellington Management Group LLP raised its position in shares of BorgWarner by 1.4% during the 3rd quarter. Wellington Management Group LLP now owns 27,629 shares of the auto parts company's stock valued at $1,003,000 after buying an additional 394 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new stake in shares of BorgWarner during the 4th quarter worth $5,077,000. 95.67% of the stock is currently owned by institutional investors.

BorgWarner Company Profile

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.