BorgWarner (NYSE:BWA) Sets New 52-Week Low Following Insider Selling

BorgWarner Inc. (NYSE:BWA)’s share price reached a new 52-week low on Thursday after an insider sold shares in the company. The company traded as low as $27.65 and last traded at $27.92, with a volume of 1489764 shares traded. The stock had previously closed at $28.56.

Specifically, CAO Tonit M. Calaway sold 8,300 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.07, for a total transaction of $249,581.00. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BWA. Wells Fargo & Company increased their target price on shares of BorgWarner from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, February 7th. StockNews.com cut shares of BorgWarner from a “buy” rating to a “hold” rating in a research report on Friday. TD Cowen lowered BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a report on Friday, March 7th. Guggenheim set a $38.00 price target on BorgWarner in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group cut their price objective on BorgWarner from $35.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.73.

BorgWarner Price Performance

The stock has a market cap of $6.07 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 0.77 and a beta of 1.21. The company has a quick ratio of 1.45, a current ratio of 1.79 and a debt-to-equity ratio of 0.66. The business’s 50-day simple moving average is $30.78 and its two-hundred day simple moving average is $32.79.

BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, February 6th. The auto parts company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.93 by $0.08. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. Sell-side analysts expect that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.58%. BorgWarner’s payout ratio is 30.77%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Truist Financial Corp lifted its holdings in shares of BorgWarner by 4.0% in the fourth quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company’s stock worth $487,000 after buying an additional 595 shares in the last quarter. State of Alaska Department of Revenue lifted 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 purchasing an additional 25,475 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in BorgWarner in the 4th quarter worth approximately $1,197,000. Wellington Management Group LLP boosted its holdings in BorgWarner by 1.4% in 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 purchasing an additional 394 shares during the period. Finally, Mirabella Financial Services LLP purchased a new position in shares of BorgWarner during the 3rd quarter valued at $908,000. 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.