Quarry LP Sells 2,121 Shares of BorgWarner Inc. (NYSE:BWA)

Quarry LP trimmed its stake in shares of BorgWarner Inc. (NYSE:BWA) by 71.0% in the 3rd quarter, Holdings Channel reports. The firm owned 867 shares of the auto parts company’s stock after selling 2,121 shares during the period. Quarry LP’s holdings in BorgWarner were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. grew its position in BorgWarner by 21,752.6% during the third quarter. Pacer Advisors Inc. now owns 4,646,950 shares of the auto parts company’s stock valued at $168,638,000 after buying an additional 4,625,685 shares during the period. Point72 Asset Management L.P. grew its holdings in BorgWarner by 361.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,450,696 shares of the auto parts company’s stock valued at $79,010,000 after buying an additional 1,919,219 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in BorgWarner by 23.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,628,733 shares of the auto parts company’s stock valued at $278,190,000 after acquiring an additional 1,640,503 shares during the last quarter. Earnest Partners LLC lifted its position in shares of BorgWarner by 20.2% in the second quarter. Earnest Partners LLC now owns 3,979,776 shares of the auto parts company’s stock worth $128,308,000 after buying an additional 669,137 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of BorgWarner by 86.0% during the 2nd quarter. Hsbc Holdings PLC now owns 1,410,411 shares of the auto parts company’s stock valued at $45,576,000 after acquiring an additional 652,097 shares during the last quarter. 95.67% of the stock is owned by institutional investors.

BorgWarner Price Performance

Shares of BWA opened at $35.10 on Thursday. The company has a market capitalization of $7.68 billion, a P/E ratio of 8.91, a P/E/G ratio of 0.75 and a beta of 1.19. The business’s 50-day moving average is $34.40 and its two-hundred day moving average is $33.68. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.48 and a current ratio of 1.84. BorgWarner Inc. has a fifty-two week low of $29.51 and a fifty-two week high of $38.22.

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

BorgWarner Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.11 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 1.25%. BorgWarner’s payout ratio is 11.17%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. 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 report on Tuesday, October 1st. Wolfe Research started coverage on BorgWarner in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BorgWarner from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Finally, Evercore ISI upgraded BorgWarner from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $39.00 to $43.00 in a research note on Monday, October 14th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $41.21.

Insiders Place Their Bets

In other BorgWarner news, EVP Paul Arthur Farrell sold 20,266 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.47, for a total transaction of $698,569.02. Following the completion of the transaction, the executive vice president now directly owns 32,366 shares in the company, valued at approximately $1,115,656.02. This represents a 38.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Stefan Demmerle sold 20,544 shares of BorgWarner stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $34.28, for a total transaction of $704,248.32. Following the completion of the sale, the vice president now owns 206,969 shares in the company, valued at approximately $7,094,897.32. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 222,010 shares of company stock worth $7,678,076. 0.63% of the stock is owned by corporate insiders.

BorgWarner 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.