Oppenheimer Asset Management Inc. Cuts Stock Holdings in BorgWarner Inc. (NYSE:BWA)

Oppenheimer Asset Management Inc. reduced its stake in BorgWarner Inc. (NYSE:BWA) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,228 shares of the auto parts company’s stock after selling 567 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in BorgWarner were worth $1,242,000 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 bought and sold shares of BWA. Matrix Trust Co bought a new stake in shares of BorgWarner during the 3rd quarter worth $25,000. LRI Investments LLC boosted its holdings in shares of BorgWarner by 2,685.3% in the 2nd quarter. LRI Investments LLC now owns 947 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 913 shares in the last quarter. Sentry Investment Management LLC bought a new position in shares of BorgWarner during the 2nd quarter valued at about $32,000. Olistico Wealth LLC purchased a new position in shares of BorgWarner during the 2nd quarter valued at about $35,000. Finally, Gradient Investments LLC lifted its position in BorgWarner by 1,117.2% in the 2nd quarter. Gradient Investments LLC now owns 1,205 shares of the auto parts company’s stock worth $39,000 after buying an additional 1,106 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

BorgWarner Stock Up 0.2 %

Shares of BorgWarner stock opened at $34.50 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.48 and a debt-to-equity ratio of 0.66. BorgWarner Inc. has a 12-month low of $29.51 and a 12-month high of $38.22. The company has a market cap of $7.55 billion, a P/E ratio of 8.76, a PEG ratio of 0.71 and a beta of 1.20. The company’s fifty day simple moving average is $34.27 and its two-hundred day simple moving average is $33.99.

BorgWarner (NYSE:BWA) last announced its quarterly earnings results 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. The company had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.50 billion. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. BorgWarner’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 earnings per share. Research analysts anticipate that BorgWarner Inc. will post 4.23 EPS for the current year.

BorgWarner Dividend Announcement

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

Analyst Ratings Changes

Several research firms have commented on BWA. Robert W. Baird lifted their price target on shares of BorgWarner from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. StockNews.com raised shares of BorgWarner from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group reduced their price objective on BorgWarner from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Wolfe Research began coverage on BorgWarner in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company dropped their target price on BorgWarner from $44.00 to $42.00 and set an “overweight” rating for the company 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.21.

Insider Buying and Selling

In related news, EVP Paul Arthur Farrell sold 20,266 shares of the company’s stock in a transaction that occurred on 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 $1,115,656.02. This represents a 38.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Frederic Lissalde sold 154,000 shares of BorgWarner stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.61, for a total value of $5,329,940.00. Following the transaction, the chief executive officer now owns 259,957 shares of the company’s stock, valued at $8,997,111.77. The trade was a 37.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 179,966 shares of company stock valued at $6,225,843 over the last ninety days. Company insiders own 0.45% 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.