Paloma Partners Management Co Decreases Position in BorgWarner Inc. (NYSE:BWA)

Paloma Partners Management Co lessened its position in BorgWarner Inc. (NYSE:BWA - Free Report) by 90.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,086 shares of the auto parts company's stock after selling 66,007 shares during the quarter. Paloma Partners Management Co's holdings in BorgWarner were worth $257,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Erste Asset Management GmbH purchased a new position in BorgWarner in the 3rd quarter valued at approximately $11,113,000. True Wealth Design LLC acquired a new stake in shares of BorgWarner in the third quarter valued at $38,000. Captrust Financial Advisors boosted its holdings in BorgWarner by 5.6% in the third quarter. Captrust Financial Advisors now owns 92,206 shares of the auto parts company's stock valued at $3,346,000 after purchasing an additional 4,860 shares during the period. Public Sector Pension Investment Board grew its position in shares of BorgWarner by 2.6% during the third quarter. Public Sector Pension Investment Board now owns 39,707 shares of the auto parts company's stock worth $1,441,000 after buying an additional 1,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in BorgWarner by 9.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,511 shares of the auto parts company's stock worth $1,978,000 after acquiring an additional 4,497 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company's stock.

Insider Activity

In other 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 owns 37,640 shares in the company, valued at $1,303,096.80. This trade represents a 13.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Stefan Demmerle sold 21,500 shares of the firm's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $34.79, for a total transaction of $747,985.00. Following the completion of the sale, the vice president now owns 227,513 shares of the company's stock, valued at $7,915,177.27. This trade represents a 8.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 222,010 shares of company stock valued at $7,678,076 in the last three months. 0.45% of the stock is currently owned by company insiders.

BorgWarner Stock Performance

Shares of BorgWarner stock traded down $0.19 during trading hours on Friday, hitting $33.80. 2,294,286 shares of the company were exchanged, compared to its average volume of 1,867,148. 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 business has a 50-day moving average of $34.46 and a 200-day moving average of $33.70. BorgWarner Inc. has a 1 year low of $29.51 and a 1 year high of $38.22. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 8.58, a P/E/G ratio of 0.77 and a beta of 1.19.

BorgWarner (NYSE:BWA - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.17. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. BorgWarner's quarterly revenue was down 4.8% on a year-over-year basis. As a group, analysts expect 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. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Monday, December 2nd. BorgWarner's dividend payout ratio (DPR) is 11.17%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on BorgWarner from $38.00 to $39.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Evercore ISI upgraded BorgWarner from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $39.00 to $43.00 in a research note on Monday, October 14th. JPMorgan Chase & Co. dropped their price target on shares of BorgWarner from $51.00 to $50.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Wolfe Research initiated coverage on shares of BorgWarner in a research report on Thursday, September 5th. They set a "peer perform" rating for the company. Finally, The Goldman Sachs Group dropped their target price on shares of BorgWarner from $38.00 to $36.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.