State Street Corp lowered its stake in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,306,223 shares of the auto parts company's stock after selling 120,204 shares during the quarter. State Street Corp owned 3.80% of BorgWarner worth $301,433,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of BWA. SG Americas Securities LLC lifted its position in shares of BorgWarner by 59.2% during the 2nd quarter. SG Americas Securities LLC now owns 42,729 shares of the auto parts company's stock worth $1,378,000 after buying an additional 15,883 shares in the last quarter. Mirabella Financial Services LLP purchased a new stake in shares of BorgWarner during the third quarter valued at approximately $908,000. Swedbank AB lifted its holdings in BorgWarner by 236.5% during the third quarter. Swedbank AB now owns 844,112 shares of the auto parts company's stock worth $30,633,000 after acquiring an additional 593,265 shares during the period. HITE Hedge Asset Management LLC boosted its position in BorgWarner by 28.4% in the third quarter. HITE Hedge Asset Management LLC now owns 290,317 shares of the auto parts company's stock worth $10,536,000 after purchasing an additional 64,126 shares during the last quarter. Finally, Edgestream Partners L.P. grew its stake in BorgWarner by 191.2% in the 2nd quarter. Edgestream Partners L.P. now owns 193,733 shares of the auto parts company's stock valued at $6,246,000 after purchasing an additional 127,212 shares during the period. 95.67% of the stock is owned by hedge funds and other institutional investors.
BWA has been the topic of a number of research analyst reports. Evercore ISI raised shares of BorgWarner from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $39.00 to $43.00 in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their target price on shares of BorgWarner from $38.00 to $39.00 and gave the company a "hold" rating in a research report on Monday, November 4th. Wolfe Research began coverage on shares of BorgWarner in a report on Thursday, September 5th. They issued a "peer perform" rating on the stock. JPMorgan Chase & Co. reduced their price objective on BorgWarner from $51.00 to $50.00 and set an "overweight" rating for the company in a report on Monday, October 21st. Finally, The Goldman Sachs Group lowered their target price on BorgWarner from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $41.21.
View Our Latest Report on BWA
In other BorgWarner news, VP Stefan Demmerle sold 21,500 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $34.79, for a total transaction of $747,985.00. Following the transaction, the vice president now directly owns 227,513 shares in the company, valued at $7,915,177.27. This trade represents a 8.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Isabelle Mckenzie sold 5,700 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.62, for a total transaction of $197,334.00. Following the completion of the sale, the vice president now directly owns 37,640 shares of the company's stock, valued at $1,303,096.80. This trade represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 222,010 shares of company stock worth $7,678,076 over the last 90 days. Corporate insiders own 0.63% of the company's stock.
Shares of BorgWarner stock opened at $34.61 on Wednesday. BorgWarner Inc. has a 12-month low of $29.51 and a 12-month high of $38.22. The company has a current ratio of 1.84, a quick ratio of 1.48 and a debt-to-equity ratio of 0.66. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 0.75 and a beta of 1.19. The company's 50-day moving average price is $34.40 and its 200-day moving average price is $33.67.
BorgWarner (NYSE:BWA - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.17. BorgWarner had a return on equity of 15.51% and a net margin of 6.33%. The firm had revenue of $3.45 billion for the quarter, compared to analysts' expectations of $3.50 billion. During the same quarter last year, the firm posted $0.98 EPS. The company's revenue was down 4.8% compared to the same quarter last year. On average, equities analysts expect that BorgWarner Inc. will post 4.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 1.27%. BorgWarner's dividend payout ratio is presently 11.17%.
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.
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