BorgWarner Inc. (BWA) to Issue Quarterly Dividend of $0.13

BorgWarner Inc. (NYSE:BWA) declared a quarterly dividend on Tuesday, July 26th. Investors of record on Thursday, September 1st will be paid a dividend of 0.13 per share on Thursday, September 15th. This represents a $0.52 annualized dividend and a yield of 1.53%.

Shares of BorgWarner (NYSE:BWA) traded up 2.04% during trading on Tuesday, hitting $33.94. 1,930,854 shares of the stock traded hands. The firm has a market cap of $7.39 billion and a P/E ratio of 12.78. The company has a 50-day moving average of $31.90 and a 200-day moving average of $33.52. BorgWarner has a 52 week low of $27.52 and a 52 week high of $52.47.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.02. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business earned $2.27 billion during the quarter, compared to analysts’ expectations of $2.22 billion. BorgWarner’s revenue was up 14.3% on a year-over-year basis. On average, analysts forecast that BorgWarner will post $3.23 EPS for the current fiscal year.

BWA has been the topic of a number of research reports. Citigroup Inc. downgraded shares of BorgWarner from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Tuesday, March 29th. Royal Bank Of Canada upped their target price on shares of BorgWarner from $33.00 to $39.00 and gave the company a “sector perform” rating in a research report on Friday, April 1st. Zacks Investment Research upgraded shares of BorgWarner from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Tuesday, April 12th. Wells Fargo & Co. downgraded shares of BorgWarner to a “buy” rating in a research report on Wednesday, April 27th. Finally, TheStreet upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a research report on Tuesday, April 26th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. BorgWarner presently has a consensus rating of “Hold” and an average price target of $42.92.

In other news, CFO Ronald T. Hundzinski sold 3,721 shares of the business’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $35.06, for a total value of $130,458.26. Following the transaction, the chief financial officer now directly owns 132,947 shares in the company, valued at $4,661,121.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis C. Cuneo sold 2,500 shares of the business’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $33.53, for a total value of $83,825.00. Following the completion of the transaction, the director now owns 21,407 shares in the company, valued at $717,776.71. The disclosure for this sale can be found here.

BorgWarner Inc is a supplier of engineered automotive systems and components for powertrain applications. The Company operates through two segments: Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Drivetrain segment’s products include transmission components and systems, all-wheel drive (AWD) torque transfer systems and rotating electrical devices.