State Street Corp Sells 120,204 Shares of BorgWarner Inc. (NYSE:BWA)

State Street Corp reduced its position in shares of BorgWarner Inc. (NYSE:BWA) by 1.4% in the third quarter, HoldingsChannel reports. 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’s holdings in BorgWarner were worth $301,433,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BWA. Stifel Financial Corp boosted its holdings in shares of BorgWarner by 10.1% during the third quarter. Stifel Financial Corp now owns 36,365 shares of the auto parts company’s stock worth $1,320,000 after purchasing an additional 3,337 shares during the period. Quantinno Capital Management LP raised its position in BorgWarner by 11.0% during the 3rd quarter. Quantinno Capital Management LP now owns 83,656 shares of the auto parts company’s stock valued at $3,036,000 after purchasing an additional 8,294 shares during the last quarter. Readystate Asset Management LP lifted its holdings in BorgWarner by 56.3% in the 3rd quarter. Readystate Asset Management LP now owns 17,512 shares of the auto parts company’s stock worth $636,000 after buying an additional 6,310 shares during the period. Petrus Trust Company LTA bought a new stake in shares of BorgWarner in the 3rd quarter worth approximately $573,000. Finally, Point72 Italy S.r.l. increased its stake in shares of BorgWarner by 129.8% during the third quarter. Point72 Italy S.r.l. now owns 213,060 shares of the auto parts company’s stock valued at $7,732,000 after buying an additional 120,363 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analyst Weigh In

BWA has been the topic of several recent analyst reports. The Goldman Sachs Group cut their price target on shares of BorgWarner from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Evercore ISI raised shares of BorgWarner from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $39.00 to $43.00 in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of BorgWarner from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Wolfe Research assumed coverage on BorgWarner in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. decreased their target price on BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.21.

BorgWarner Trading Up 0.9 %

NYSE BWA 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 stock’s fifty day moving average price is $34.40 and its 200-day moving average price is $33.67. The stock has a market cap of $7.57 billion, a P/E ratio of 8.78, a P/E/G ratio of 0.75 and a beta of 1.19.

BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. The business had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.50 billion. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. BorgWarner’s revenue was down 4.8% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. As a group, equities analysts forecast that BorgWarner Inc. will post 4.22 EPS for the current fiscal year.

BorgWarner Dividend Announcement

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 paid a dividend of $0.11 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.44 annualized dividend and a yield of 1.27%. BorgWarner’s dividend payout ratio is 11.17%.

Insiders Place Their Bets

In related news, VP Stefan Demmerle sold 20,544 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $34.28, for a total transaction of $704,248.32. Following the transaction, the vice president now owns 206,969 shares in the company, valued at $7,094,897.32. This represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederic Lissalde sold 154,000 shares of BorgWarner stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.61, for a total transaction of $5,329,940.00. Following the completion of the sale, the chief executive officer now directly owns 259,957 shares of the company’s stock, valued at approximately $8,997,111.77. This trade represents a 37.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 222,010 shares of company stock valued at $7,678,076. Corporate insiders own 0.63% of the company’s stock.

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.