BorgWarner Inc. (NYSE:BWA) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in BorgWarner Inc. (NYSE:BWA) by 24.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 73,726 shares of the auto parts company’s stock after selling 24,389 shares during the period. PNC Financial Services Group Inc.’s holdings in BorgWarner were worth $2,676,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of BWA. Quadrature Capital Ltd bought a new position in shares of BorgWarner during the first quarter valued at approximately $285,000. LRI Investments LLC acquired a new stake in BorgWarner in the first quarter worth $35,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of BorgWarner during the first quarter valued at $208,000. Motley Fool Asset Management LLC bought a new position in shares of BorgWarner during the first quarter worth about $497,000. Finally, Tidal Investments LLC increased its holdings in shares of BorgWarner by 21.2% in the 1st quarter. Tidal Investments LLC now owns 35,912 shares of the auto parts company’s stock worth $1,248,000 after acquiring an additional 6,278 shares during the period. Institutional investors own 95.67% of the company’s stock.

BorgWarner Stock Performance

Shares of NYSE BWA opened at $35.18 on Tuesday. The stock’s fifty day simple moving average is $34.50 and its 200 day simple moving average is $33.87. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 0.75 and a beta of 1.20. The company has a quick ratio of 1.48, a current ratio of 1.84 and a debt-to-equity ratio of 0.66. BorgWarner Inc. has a 52-week low of $29.51 and a 52-week high of $38.22.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. BorgWarner had a return on equity of 15.51% and a net margin of 6.33%. The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the business posted $0.98 EPS. BorgWarner’s revenue was down 4.8% on a year-over-year basis. As a group, sell-side analysts forecast that BorgWarner Inc. will post 4.22 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Frederic Lissalde sold 154,000 shares of the 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 sale, the chief executive officer now directly owns 259,957 shares of the company’s stock, valued at approximately $8,997,111.77. This represents a 37.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Isabelle Mckenzie sold 5,700 shares of the business’s 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 transaction, the vice president now directly owns 37,640 shares in the company, valued at $1,303,096.80. The trade was a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,466 shares of company stock worth $6,973,828. Corporate insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on BWA shares. Barclays upped their target price on shares of BorgWarner from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. StockNews.com raised BorgWarner from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group decreased their price target on BorgWarner from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. cut their price objective on shares of BorgWarner from $51.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Wolfe Research assumed coverage on shares of BorgWarner in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.21.

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.