Verition Fund Management LLC Sells 128,522 Shares of BorgWarner Inc. (NYSE:BWA)

Verition Fund Management LLC decreased its stake in shares of BorgWarner Inc. (NYSE:BWA) by 92.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 9,875 shares of the auto parts company’s stock after selling 128,522 shares during the period. Verition Fund Management LLC’s holdings in BorgWarner were worth $358,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Matrix Trust Co bought a new position in shares of BorgWarner in the third quarter worth about $25,000. LRI Investments LLC increased its position in BorgWarner by 2,685.3% in the 2nd quarter. LRI Investments LLC now owns 947 shares of the auto parts company’s stock worth $31,000 after buying an additional 913 shares during the period. Sentry Investment Management LLC bought a new stake in shares of BorgWarner in the second quarter valued at approximately $32,000. Brooklyn Investment Group acquired a new stake in shares of BorgWarner in the third quarter worth $32,000. Finally, Gradient Investments LLC increased its position in BorgWarner by 1,117.2% during the second quarter. Gradient Investments LLC now owns 1,205 shares of the auto parts company’s stock worth $39,000 after acquiring an additional 1,106 shares during the period. Institutional investors own 95.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BWA. Wolfe Research initiated coverage on shares of BorgWarner in a report on Thursday, September 5th. They set a “peer perform” rating for the company. The Goldman Sachs Group decreased 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. JPMorgan Chase & Co. lowered their price objective on BorgWarner from $51.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised their target price on BorgWarner from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Evercore ISI upgraded BorgWarner from an “in-line” rating to an “outperform” rating and upped their price target for the company from $39.00 to $43.00 in a research report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.20.

BorgWarner Stock Performance

Shares of BorgWarner stock opened at $34.05 on Friday. 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 50 day simple moving average of $34.38 and a 200 day simple moving average of $33.68. BorgWarner Inc. has a fifty-two week low of $29.51 and a fifty-two week high of $38.22. The firm has a market cap of $7.45 billion, a P/E ratio of 8.64, a P/E/G ratio of 0.77 and a beta of 1.19.

BorgWarner (NYSE:BWA) last released its earnings results on Thursday, October 31st. The auto parts company reported $1.09 EPS for the quarter, beating 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 period last year, the firm earned $0.98 EPS. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. Sell-side analysts predict that BorgWarner Inc. will post 4.22 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given 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 is 11.17%.

Insider Buying and Selling

In related news, CEO Frederic Lissalde sold 154,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $34.61, for a total value of $5,329,940.00. Following the sale, the chief executive officer now directly owns 259,957 shares in the company, valued at $8,997,111.77. This trade represents a 37.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Stefan Demmerle sold 21,500 shares of BorgWarner stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $34.79, for a total transaction of $747,985.00. Following the transaction, the vice president now directly owns 227,513 shares in the company, valued at $7,915,177.27. The trade was a 8.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,010 shares of company stock valued at $7,678,076 over the last ninety days. Insiders own 0.45% of the company’s stock.

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.