Independent Advisor Alliance Buys 12,538 Shares of BorgWarner Inc. (NYSE:BWA)

Independent Advisor Alliance boosted its stake in shares of BorgWarner Inc. (NYSE:BWA) by 170.8% in the third quarter, HoldingsChannel reports. The firm owned 19,878 shares of the auto parts company’s stock after purchasing an additional 12,538 shares during the quarter. Independent Advisor Alliance’s holdings in BorgWarner were worth $721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. boosted its position in BorgWarner by 14.7% during the third quarter. Daiwa Securities Group Inc. now owns 10,506 shares of the auto parts company’s stock worth $381,000 after purchasing an additional 1,345 shares during the period. Swedbank AB boosted its position 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 purchasing an additional 593,265 shares during the period. Algert Global LLC boosted its position in BorgWarner by 84.5% during the third quarter. Algert Global LLC now owns 177,853 shares of the auto parts company’s stock worth $6,454,000 after purchasing an additional 81,480 shares during the period. Cerity Partners LLC boosted its position in BorgWarner by 19.0% during the third quarter. Cerity Partners LLC now owns 196,413 shares of the auto parts company’s stock worth $7,128,000 after purchasing an additional 31,374 shares during the period. Finally, Studio Investment Management LLC boosted its position in BorgWarner by 12.4% during the third quarter. Studio Investment Management LLC now owns 2,813 shares of the auto parts company’s stock worth $102,000 after purchasing an additional 310 shares during the period. 95.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company reduced their price objective on shares of BorgWarner from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Evercore ISI raised BorgWarner from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $39.00 to $43.00 in a report on Monday, October 14th. Robert W. Baird lifted their target price on BorgWarner from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. dropped their target price on BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Barclays lifted their target price on BorgWarner from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.21.

BorgWarner Stock Performance

BorgWarner stock opened at $34.27 on Thursday. BorgWarner Inc. has a 12-month low of $29.51 and a 12-month high of $38.22. The company has a quick ratio of 1.48, a current ratio of 1.84 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average price is $34.52 and its two-hundred day moving average price is $33.84. The stock has a market cap of $7.49 billion, a PE ratio of 8.70, a P/E/G ratio of 0.78 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business posted $0.98 earnings per share. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. As a group, analysts expect that BorgWarner Inc. will post 4.22 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Monday, December 2nd. BorgWarner’s dividend payout ratio is presently 11.17%.

Insider Buying and Selling at BorgWarner

In other BorgWarner news, VP Stefan Demmerle sold 21,500 shares of BorgWarner stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $34.79, for a total value of $747,985.00. Following the transaction, the vice president now owns 227,513 shares in the company, valued at $7,915,177.27. The trade was a 8.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul Arthur Farrell sold 20,266 shares of the business’s stock in a transaction dated 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 owns 32,366 shares in the company, valued at approximately $1,115,656.02. This trade represents a 38.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 201,466 shares of company stock worth $6,973,828 over the last 90 days. Insiders own 0.63% of the company’s stock.

BorgWarner Profile

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.