Quest Partners LLC Sells 19,902 Shares of BorgWarner Inc. (NYSE:BWA)

Quest Partners LLC lessened its stake in shares of BorgWarner Inc. (NYSE:BWA) by 63.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,499 shares of the auto parts company’s stock after selling 19,902 shares during the period. Quest Partners LLC’s holdings in BorgWarner were worth $417,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BWA. Matrix Trust Co acquired a new stake in BorgWarner in the 3rd quarter worth approximately $25,000. LRI Investments LLC raised its position in shares of BorgWarner by 2,685.3% in the second quarter. LRI Investments LLC now owns 947 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 913 shares during the period. Sentry Investment Management LLC bought a new position in shares of BorgWarner in the second quarter valued at approximately $32,000. Olistico Wealth LLC acquired a new stake in shares of BorgWarner in the second quarter worth $35,000. Finally, Gradient Investments LLC boosted its holdings in shares of BorgWarner by 1,117.2% during 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 period. Institutional investors and hedge funds own 95.67% of the company’s stock.

BorgWarner Price Performance

Shares of BorgWarner stock opened at $34.12 on Monday. BorgWarner Inc. has a twelve month low of $29.51 and a twelve month high of $38.22. 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 firm has a market cap of $7.46 billion, a P/E ratio of 8.66, a price-to-earnings-growth ratio of 0.70 and a beta of 1.20. The firm’s 50-day simple moving average is $34.44 and its 200-day simple moving average is $33.88.

BorgWarner (NYSE:BWA) last issued its earnings results on Thursday, October 31st. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. The business had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.50 billion. BorgWarner had a return on equity of 15.51% and a net margin of 6.33%. BorgWarner’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. As a group, research analysts expect that BorgWarner Inc. will post 4.24 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Monday, December 2nd. BorgWarner’s payout ratio is 11.17%.

Analysts Set New Price Targets

BWA has been the subject of a number of research analyst reports. Robert W. Baird boosted their target price on shares of BorgWarner from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Evercore ISI raised BorgWarner from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $39.00 to $43.00 in a research report on Monday, October 14th. StockNews.com raised BorgWarner from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price target on BorgWarner from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on BorgWarner from $38.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.21.

Insider Transactions at BorgWarner

In other BorgWarner news, VP Stefan Demmerle sold 21,500 shares of the company’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 sale, the vice president now directly owns 227,513 shares of the company’s stock, valued at approximately $7,915,177.27. This represents a 8.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Isabelle Mckenzie sold 5,700 shares of BorgWarner stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $34.62, for a total transaction of $197,334.00. Following the completion of the transaction, the vice president now owns 37,640 shares of the company’s stock, valued at $1,303,096.80. This trade represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,466 shares of company stock valued at $6,973,828. 0.45% of the stock is owned by insiders.

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.