BorgWarner Inc. (NYSE:BWA) Stake Cut by State Street Corp

State Street Corp reduced its position in BorgWarner Inc. (NYSE:BWA - Free Report) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,306,223 shares of the auto parts company's stock after selling 120,204 shares during the period. State Street Corp owned about 3.80% of BorgWarner worth $301,433,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BWA. Dimensional Fund Advisors LP raised its position in shares of BorgWarner by 23.5% during the 2nd 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 during the last quarter. Pacer Advisors Inc. increased its position in BorgWarner by 21,752.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,646,950 shares of the auto parts company's stock worth $168,638,000 after purchasing an additional 4,625,685 shares in the last quarter. Earnest Partners LLC raised its stake in BorgWarner by 20.2% in the 2nd quarter. Earnest Partners LLC now owns 3,979,776 shares of the auto parts company's stock valued at $128,308,000 after purchasing an additional 669,137 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of BorgWarner by 19.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,764,103 shares of the auto parts company's stock worth $100,309,000 after purchasing an additional 445,540 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of BorgWarner by 361.1% during the second quarter. Point72 Asset Management L.P. now owns 2,450,696 shares of the auto parts company's stock worth $79,010,000 after buying an additional 1,919,219 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BorgWarner

In related news, VP Isabelle Mckenzie sold 5,700 shares of BorgWarner stock in a transaction on 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 sale, the vice president now owns 37,640 shares in the company, valued at approximately $1,303,096.80. The trade was a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stefan Demmerle sold 21,500 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $34.79, for a total transaction of $747,985.00. Following the transaction, the vice president now owns 227,513 shares in the company, valued at $7,915,177.27. This trade represents a 8.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 222,010 shares of company stock valued at $7,678,076. 0.63% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

BorgWarner Stock Up 1.4 %

NYSE:BWA traded up $0.48 during mid-day trading on Wednesday, hitting $35.09. The company had a trading volume of 1,535,774 shares, compared to its average volume of 2,636,135. BorgWarner Inc. has a 1 year low of $29.51 and a 1 year high of $38.22. The business has a fifty day simple moving average of $34.40 and a 200-day simple moving average of $33.67. 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 firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 0.75 and a beta of 1.19.

BorgWarner (NYSE:BWA - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the company earned $0.98 earnings per share. BorgWarner's revenue for the quarter was down 4.8% on a year-over-year basis. Equities analysts forecast 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. Stockholders 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 dividend yield of 1.25%. BorgWarner's dividend payout ratio is presently 11.17%.

BorgWarner Company 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.