KBC Group NV Decreases Stake in BorgWarner Inc. (NYSE:BWA)

KBC Group NV cut its position in BorgWarner Inc. (NYSE:BWA) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 247,412 shares of the auto parts company’s stock after selling 16,688 shares during the period. KBC Group NV owned 0.11% of BorgWarner worth $8,978,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of BorgWarner by 23.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,628,733 shares of the auto parts company’s stock worth $278,190,000 after purchasing an additional 1,640,503 shares in the last quarter. Earnest Partners LLC boosted its position in shares of BorgWarner by 20.2% during the 2nd quarter. Earnest Partners LLC now owns 3,979,776 shares of the auto parts company’s stock worth $128,308,000 after acquiring an additional 669,137 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of BorgWarner by 361.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,450,696 shares of the auto parts company’s stock valued at $79,010,000 after acquiring an additional 1,919,219 shares during the last quarter. Sei Investments Co. raised its position in shares of BorgWarner by 17.1% during the 2nd quarter. Sei Investments Co. now owns 2,217,195 shares of the auto parts company’s stock worth $71,482,000 after acquiring an additional 324,087 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its stake in BorgWarner by 8.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 2,004,423 shares of the auto parts company’s stock worth $69,634,000 after purchasing an additional 159,271 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on BWA. Wolfe Research initiated coverage on shares of BorgWarner in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Barclays increased their target price on shares of BorgWarner from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group reduced their price target on shares of BorgWarner from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. StockNews.com raised BorgWarner from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Finally, Robert W. Baird boosted their target price on BorgWarner from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, BorgWarner presently has a consensus rating of “Moderate Buy” and an average price target of $41.21.

Insider Activity

In other BorgWarner news, VP Isabelle Mckenzie sold 5,700 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $34.62, for a total value of $197,334.00. Following the completion of the transaction, the vice president now directly owns 37,640 shares of the company’s stock, valued at approximately $1,303,096.80. This trade represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Paul Arthur Farrell sold 20,266 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.47, for a total value of $698,569.02. Following the sale, the executive vice president now directly owns 32,366 shares in the company, valued at $1,115,656.02. This trade represents a 38.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 179,966 shares of company stock valued at $6,225,843 in the last three months. 0.45% of the stock is currently owned by company insiders.

BorgWarner Price Performance

Shares of NYSE BWA opened at $34.50 on Friday. The stock has a fifty day moving average price of $34.27 and a 200 day moving average price of $33.98. BorgWarner Inc. has a 1-year low of $29.51 and a 1-year high of $38.22. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.84 and a quick ratio of 1.48. The company has a market cap of $7.55 billion, a PE ratio of 8.76, a P/E/G ratio of 0.72 and a beta of 1.20.

BorgWarner (NYSE:BWA) last released its earnings results on Thursday, October 31st. The auto parts company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.92 by $0.17. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.50 billion. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the business earned $0.98 EPS. Sell-side analysts forecast that BorgWarner Inc. will post 4.2 EPS for the current year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.11 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.44 annualized dividend and a dividend yield of 1.28%. BorgWarner’s dividend payout ratio is currently 11.17%.

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.