abrdn plc Sells 64,081 Shares of BorgWarner Inc. (NYSE:BWA)

abrdn plc cut its holdings in BorgWarner Inc. (NYSE:BWA) by 61.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,609 shares of the auto parts company’s stock after selling 64,081 shares during the period. abrdn plc’s holdings in BorgWarner were worth $1,432,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Matrix Trust Co bought a new stake in shares of BorgWarner during the 3rd quarter worth about $25,000. LRI Investments LLC boosted its position in BorgWarner by 2,685.3% during the second quarter. LRI Investments LLC now owns 947 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 913 shares during the period. Sentry Investment Management LLC acquired a new position in BorgWarner during the second quarter valued at approximately $32,000. Olistico Wealth LLC bought a new position in shares of BorgWarner in the second quarter valued at approximately $35,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of BorgWarner by 12,144.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,102 shares of the auto parts company’s stock worth $38,000 after buying an additional 1,093 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

BorgWarner Price Performance

Shares of BWA stock opened at $33.45 on Tuesday. The stock’s fifty day simple moving average is $34.06 and its 200 day simple moving average is $33.89. BorgWarner Inc. has a one year low of $29.51 and a one year high of $38.22. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 8.60, a P/E/G ratio of 0.73 and a beta of 1.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.84 and a quick ratio of 1.26.

BorgWarner (NYSE:BWA) last announced its earnings results on Thursday, October 31st. The auto parts company reported $1.09 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 business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the business earned $0.98 EPS. BorgWarner’s revenue was down 4.8% compared to the same quarter last year. On average, analysts expect that BorgWarner Inc. will post 4.09 earnings per share for the current fiscal year.

Insider Transactions at BorgWarner

In related news, EVP Tania Wingfield sold 2,066 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.00, for a total value of $66,112.00. Following the transaction, the executive vice president now owns 46,016 shares in the company, valued at $1,472,512. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.45% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Evercore ISI upgraded shares of BorgWarner from an “in-line” rating to an “outperform” rating and raised their target price for the company from $39.00 to $43.00 in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on BorgWarner from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday. StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their price target on BorgWarner from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Finally, Wolfe Research initiated coverage on BorgWarner in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, BorgWarner has a consensus rating of “Moderate Buy” and a consensus target price of $41.44.

BorgWarner 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.