BorgWarner (NYSE:BWA) Sets New 12-Month High Following Dividend Announcement

BorgWarner Inc. (NYSE:BWA)’s stock price reached a new 52-week high during trading on Wednesday following a dividend announcement from the company. The company traded as high as $49.83 and last traded at $50.0080, with a volume of 112871 shares trading hands. The stock had previously closed at $48.57.

The newly announced dividend which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, March 2nd. BorgWarner’s dividend payout ratio (DPR) is 107.94%.

Wall Street Analyst Weigh In

BWA has been the subject of several research analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $49.00 price objective (up previously from $42.00) on shares of BorgWarner in a report on Monday, December 8th. Zacks Research cut shares of BorgWarner from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. JPMorgan Chase & Co. boosted their target price on shares of BorgWarner from $45.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. UBS Group upped their target price on shares of BorgWarner from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Piper Sandler reiterated a “neutral” rating and set a $51.00 price target (down previously from $52.00) on shares of BorgWarner in a research note on Thursday, January 8th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.31.

BorgWarner Trading Up 3.7%

The stock has a fifty day simple moving average of $46.39 and a 200 day simple moving average of $43.72. The firm has a market capitalization of $11.17 billion, a P/E ratio of 82.91, a PEG ratio of 1.02 and a beta of 1.09. The company has a quick ratio of 1.69, a current ratio of 2.05 and a debt-to-equity ratio of 0.63.

Insider Activity

In other news, VP Stefan Demmerle sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the transaction, the vice president owned 204,040 shares of the company’s stock, valued at approximately $9,385,840. The trade was a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.45% of the stock is currently owned by insiders.

Institutional Trading of BorgWarner

Several hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in shares of BorgWarner by 14.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 10,917 shares of the auto parts company’s stock valued at $492,000 after purchasing an additional 1,343 shares during the last quarter. LSV Asset Management grew its position in BorgWarner by 6.7% during the 4th quarter. LSV Asset Management now owns 6,446,541 shares of the auto parts company’s stock worth $290,481,000 after purchasing an additional 402,887 shares during the period. Advisory Alpha LLC acquired a new position in BorgWarner in the fourth quarter valued at approximately $208,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of BorgWarner in the 4th quarter valued at $221,000. Finally, Global Retirement Partners LLC boosted its holdings in BorgWarner by 933.7% during the fourth quarter. Global Retirement Partners LLC now owns 5,582 shares of the auto parts company’s stock worth $252,000 after buying an additional 5,042 shares in the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

About BorgWarner

BorgWarner Inc is a global automotive supplier specializing in propulsion and drivetrain solutions for combustion, hybrid and electric vehicles. The company’s product portfolio includes turbochargers, thermal management systems, transmission components, e-Propulsion modules and advanced fuel-efficiency technologies. BorgWarner serves original equipment manufacturers (OEMs) across passenger cars, light trucks and commercial vehicles, supporting both legacy internal-combustion engines and emerging electrification trends.

Founded in 1928 through the merger of several driveline companies, BorgWarner has grown through strategic acquisitions and continuous investment in research and development.