PNC Financial Services Group Inc. Has $2.68 Million Holdings in BorgWarner Inc. (NYSE:BWA)

PNC Financial Services Group Inc. reduced its stake in BorgWarner Inc. (NYSE:BWA - Free Report) by 24.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,726 shares of the auto parts company's stock after selling 24,389 shares during the period. PNC Financial Services Group Inc.'s holdings in BorgWarner were worth $2,676,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in BWA. Spectrum Asset Management Inc. NB CA grew its position in BorgWarner by 0.5% in the 3rd quarter. Spectrum Asset Management Inc. NB CA now owns 59,457 shares of the auto parts company's stock worth $2,158,000 after purchasing an additional 316 shares during the last quarter. First Pacific Financial grew its holdings in BorgWarner by 3.6% in the 2nd quarter. First Pacific Financial now owns 9,763 shares of the auto parts company's stock worth $315,000 after buying an additional 340 shares in the last quarter. Alpha Omega Wealth Management LLC increased its position in BorgWarner by 2.2% in the 3rd quarter. Alpha Omega Wealth Management LLC now owns 16,599 shares of the auto parts company's stock valued at $602,000 after acquiring an additional 350 shares during the period. PFG Investments LLC increased its position in BorgWarner by 4.6% in the 3rd quarter. PFG Investments LLC now owns 9,435 shares of the auto parts company's stock valued at $342,000 after acquiring an additional 414 shares during the period. Finally, Conscious Wealth Investments LLC raised its stake in BorgWarner by 0.6% during the 2nd quarter. Conscious Wealth Investments LLC now owns 81,684 shares of the auto parts company's stock valued at $2,659,000 after acquiring an additional 478 shares in the last quarter. 95.67% of the stock is owned by institutional investors.

Insider Buying and Selling at BorgWarner

In related news, CEO Frederic Lissalde sold 154,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 259,957 shares in the company, valued at $8,997,111.77. The trade was a 37.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Stefan Demmerle sold 21,500 shares of BorgWarner stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $34.79, for a total value of $747,985.00. Following the sale, the vice president now directly owns 227,513 shares in the company, valued at $7,915,177.27. The trade was a 8.63 % decrease in their position. 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 three months. Corporate insiders own 0.45% of the company's stock.

BorgWarner Stock Down 2.9 %

Shares of BWA stock traded down $1.01 during trading on Tuesday, hitting $34.17. 2,257,990 shares of the company were exchanged, compared to its average volume of 2,663,256. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 8.62, a P/E/G ratio of 0.75 and a beta of 1.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.48 and a current ratio of 1.84. The business's 50-day simple moving average is $34.50 and its 200 day simple moving average is $33.87. BorgWarner Inc. has a twelve month low of $29.51 and a twelve month high of $38.22.

BorgWarner (NYSE:BWA - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.17. The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.50 billion. BorgWarner had a return on equity of 15.51% and a net margin of 6.33%. The business's quarterly revenue was down 4.8% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. As a group, analysts forecast that BorgWarner Inc. will post 4.22 EPS 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 dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.29%. The ex-dividend date is Monday, December 2nd. BorgWarner's payout ratio is 11.17%.

Wall Street Analysts Forecast Growth

BWA has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on BorgWarner from $38.00 to $39.00 and gave the company a "hold" rating in a report on Monday, November 4th. Wells Fargo & Company reduced their price target on shares of BorgWarner from $44.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, August 1st. 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 report on Tuesday, October 1st. StockNews.com raised shares of BorgWarner from a "hold" rating to a "buy" rating in a research note on Friday, August 2nd. Finally, Evercore ISI upgraded shares of BorgWarner from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $39.00 to $43.00 in a research report on Monday, October 14th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, BorgWarner currently has an average rating of "Moderate Buy" and an average target price of $41.21.

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.