BorgWarner increases quarterly dividend 4% to 13c BorgWarner declared a 4% increase in the quarterly cash dividend to 13c per share of common stock. The dividend is payable on September 16 to shareholders of record on September 2.
BorgWarner downgraded to Neutral at Baird As reported previously, Baird downgraded BorgWarner to Neutral from Outperform citing China headwinds, execution concerns and a lack of any near-term catalysts. Baird lowered its price target to $50 from $61 on BorgWarner shares.
Lear upgraded to Buy from Neutral at UBS UBS analyst Colin Langan upgraded Lear Corporation to Buy citing the recent pullback in shares. The company's "strong" free cash flow limits the downside risk of shares, Langan tells investors in a research note. The stock is down 11% from the June peak despite Lear's raised margin outlook for 2015, the analyst points out. He views selloff in the U.S. Auto Parts sector as buying opportunity for investors and also upgraded BorgWarner (BWA) this morning to Buy. Langan raised his price target for Lear shares to $124 from $115.