Bank of Montreal Can Trims Position in BorgWarner Inc. (NYSE:BWA)

Bank of Montreal Can trimmed its position in BorgWarner Inc. (NYSE:BWA) by 16.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 251,995 shares of the auto parts company’s stock after selling 49,628 shares during the period. Bank of Montreal Can’s holdings in BorgWarner were worth $9,261,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in BorgWarner by 23.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,628,733 shares of the auto parts company’s stock worth $278,190,000 after acquiring an additional 1,640,503 shares during the period. Pacer Advisors Inc. increased its holdings in shares of BorgWarner by 21,752.6% in the third quarter. Pacer Advisors Inc. now owns 4,646,950 shares of the auto parts company’s stock worth $168,638,000 after purchasing an additional 4,625,685 shares during the period. Earnest Partners LLC raised 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. Point72 Asset Management L.P. boosted its stake in BorgWarner by 361.1% during the second 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 during the period. Finally, Charles Schwab Investment Management Inc. grew its position in BorgWarner by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,247,269 shares of the auto parts company’s stock worth $81,553,000 after buying an additional 60,935 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

BorgWarner Stock Performance

Shares of BWA stock opened at $34.32 on Monday. The company has a market capitalization of $7.51 billion, a P/E ratio of 8.71, a PEG ratio of 0.76 and a beta of 1.20. BorgWarner Inc. has a fifty-two week low of $29.51 and a fifty-two week 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 stock has a 50 day moving average price of $34.57 and a two-hundred day moving average price of $33.80.

BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the business earned $0.98 EPS. BorgWarner’s revenue was down 4.8% compared to the same quarter last year. Analysts expect that BorgWarner Inc. will post 4.22 earnings per share for the current year.

BorgWarner Dividend Announcement

The business 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. This represents a $0.44 annualized dividend and a yield of 1.28%. The ex-dividend date is Monday, December 2nd. BorgWarner’s dividend payout ratio (DPR) is currently 11.17%.

Insider Buying and Selling at BorgWarner

In other news, CEO Frederic Lissalde sold 154,000 shares of BorgWarner stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $34.61, for a total transaction of $5,329,940.00. Following the sale, the chief executive officer now owns 259,957 shares of the company’s stock, valued at approximately $8,997,111.77. The trade was a 37.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Stefan Demmerle sold 20,544 shares of the business’s 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 transaction, the vice president now owns 206,969 shares in the company, valued at $7,094,897.32. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 222,010 shares of company stock valued at $7,678,076. 0.45% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on BWA. Evercore ISI raised BorgWarner from an “in-line” rating to an “outperform” rating and raised their price target for the company from $39.00 to $43.00 in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BorgWarner from $38.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, November 4th. The Goldman Sachs Group decreased their price target 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 initiated coverage on shares of BorgWarner in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. 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, BorgWarner 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.