The Manufacturers Life Insurance Company Trims Holdings in BorgWarner Inc. (NYSE:BWA)

The Manufacturers Life Insurance Company trimmed its position in BorgWarner Inc. (NYSE:BWA) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 184,935 shares of the auto parts company’s stock after selling 15,511 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of BorgWarner worth $6,711,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BWA. B. Riley Wealth Advisors Inc. purchased a new position in BorgWarner during the first quarter valued at approximately $208,000. Comerica Bank raised its position in BorgWarner by 25.0% during the first quarter. Comerica Bank now owns 87,911 shares of the auto parts company’s stock valued at $3,054,000 after acquiring an additional 17,596 shares in the last quarter. GAMMA Investing LLC raised its position in BorgWarner by 76.6% during the second quarter. GAMMA Investing LLC now owns 2,806 shares of the auto parts company’s stock valued at $90,000 after acquiring an additional 1,217 shares in the last quarter. CWM LLC raised its position in BorgWarner by 51.3% during the second quarter. CWM LLC now owns 12,110 shares of the auto parts company’s stock valued at $390,000 after acquiring an additional 4,104 shares in the last quarter. Finally, CX Institutional raised its position in BorgWarner by 18.1% during the second quarter. CX Institutional now owns 9,551 shares of the auto parts company’s stock valued at $308,000 after acquiring an additional 1,465 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

BorgWarner Stock Up 2.8 %

Shares of NYSE BWA opened at $34.80 on Thursday. The company has a market capitalization of $7.61 billion, a P/E ratio of 8.64, a P/E/G ratio of 0.76 and a beta of 1.19. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.84 and a quick ratio of 1.48. The company has a 50 day simple moving average of $34.55 and a 200-day simple moving average of $33.73. BorgWarner Inc. has a 1 year low of $29.51 and a 1 year high of $38.22.

BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, October 31st. The auto parts company reported $1.09 earnings per share (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 company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, equities research analysts predict that BorgWarner Inc. will post 4.22 earnings per share for the current year.

BorgWarner Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 1.26%. BorgWarner’s dividend payout ratio (DPR) is presently 11.17%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced 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 price objective on BorgWarner from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Evercore ISI raised BorgWarner from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $39.00 to $43.00 in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price objective on BorgWarner from $38.00 to $39.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Wolfe Research started coverage on BorgWarner in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, BorgWarner has a consensus rating of “Moderate Buy” and a consensus price target of $41.21.

Insider Buying and Selling at BorgWarner

In other news, VP Stefan Demmerle sold 20,544 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $34.28, for a total transaction of $704,248.32. Following the sale, the vice president now owns 206,969 shares of the company’s stock, valued at approximately $7,094,897.32. This represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the vice president now owns 37,640 shares of the company’s stock, valued at approximately $1,303,096.80. This trade represents a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 222,010 shares of company stock valued at $7,678,076 over the last quarter. 0.63% of the stock is owned by company insiders.

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.