III Capital Management Increases Position in BorgWarner Inc. (NYSE:BWA)

III Capital Management boosted its position in BorgWarner Inc. (NYSE:BWA) by 43.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 115,334 shares of the auto parts company’s stock after acquiring an additional 35,032 shares during the period. BorgWarner comprises approximately 0.3% of III Capital Management’s holdings, making the stock its 28th biggest holding. III Capital Management owned 0.05% of BorgWarner worth $4,185,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. purchased a new stake in shares of BorgWarner in the first quarter valued at $208,000. Comerica Bank grew its holdings in BorgWarner by 25.0% in the 1st quarter. Comerica Bank now owns 87,911 shares of the auto parts company’s stock valued at $3,054,000 after buying an additional 17,596 shares during the period. GAMMA Investing LLC increased its stake in shares of BorgWarner by 76.6% during the 2nd 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 during the last quarter. Olistico Wealth LLC purchased a new position in shares of BorgWarner during the 2nd quarter worth about $35,000. Finally, AMF Tjanstepension AB acquired a new stake in shares of BorgWarner in the second quarter worth approximately $9,075,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

BorgWarner Stock Down 0.6 %

BorgWarner stock traded down $0.20 during midday trading on Tuesday, hitting $34.12. 128,576 shares of the stock were exchanged, compared to its average volume of 2,637,803. BorgWarner Inc. has a 1 year low of $29.51 and a 1 year high of $38.22. 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 firm has a market cap of $7.46 billion, a P/E ratio of 8.71, a P/E/G ratio of 0.76 and a beta of 1.19. The company has a 50 day moving average price of $34.57 and a two-hundred day moving average price of $33.75.

BorgWarner (NYSE:BWA) last announced 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 for the quarter, compared to analyst estimates of $3.50 billion. BorgWarner had a return on equity of 15.51% and a net margin of 6.33%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. On average, sell-side analysts predict 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. 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 dividend payout ratio (DPR) is currently 11.17%.

Analyst Ratings Changes

BWA has been the topic of a number of recent analyst reports. Wolfe Research started coverage on shares of BorgWarner in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Evercore ISI raised BorgWarner from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $39.00 to $43.00 in a research report on Monday, October 14th. 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 cut 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. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on BorgWarner from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.21.

Insider Transactions at BorgWarner

In other news, VP Stefan Demmerle sold 21,500 shares of the 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 transaction, the vice president now owns 227,513 shares of the company’s stock, valued at approximately $7,915,177.27. This trade represents a 8.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frederic Lissalde sold 154,000 shares of BorgWarner stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $34.61, for a total value of $5,329,940.00. Following the completion of the transaction, the chief executive officer now owns 259,957 shares of the company’s stock, valued at $8,997,111.77. This trade represents a 37.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 222,010 shares of company stock valued at $7,678,076. 0.63% of the stock is currently owned by corporate 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.