Citigroup Inc. Sells 839 Shares of BorgWarner Inc. (NYSE:BWA)

Citigroup Inc. lessened its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,796 shares of the auto parts company’s stock after selling 839 shares during the period. Citigroup Inc. owned approximately 0.14% of BorgWarner worth $10,843,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pacer Advisors Inc. lifted its stake in 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 valued at $168,638,000 after buying an additional 4,625,685 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of 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 worth $79,010,000 after acquiring an additional 1,919,219 shares during the period. Dimensional Fund Advisors LP boosted its stake in BorgWarner by 23.5% in 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 purchasing an additional 1,640,503 shares during the period. Earnest Partners LLC boosted its stake in BorgWarner by 20.2% in the 2nd quarter. Earnest Partners LLC now owns 3,979,776 shares of the auto parts company’s stock worth $128,308,000 after purchasing an additional 669,137 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of BorgWarner by 86.0% in the 2nd quarter. Hsbc Holdings PLC now owns 1,410,411 shares of the auto parts company’s stock valued at $45,576,000 after purchasing an additional 652,097 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.

BorgWarner Trading Up 0.3 %

Shares of BorgWarner stock opened at $34.28 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 business has a fifty day simple moving average of $34.55 and a two-hundred day simple moving average of $33.85. BorgWarner Inc. has a 1 year low of $29.51 and a 1 year high of $38.22. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 8.70, a P/E/G ratio of 0.78 and a beta of 1.20.

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. The business had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.50 billion. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. BorgWarner’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. Research analysts forecast that BorgWarner Inc. will post 4.22 EPS for the current year.

BorgWarner Dividend Announcement

The company 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 dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 annualized dividend and a yield of 1.28%. BorgWarner’s payout ratio is currently 11.17%.

Insider Activity at BorgWarner

In other news, VP Stefan Demmerle sold 21,500 shares of the firm’s stock in a transaction that occurred on 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 directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paul Arthur Farrell sold 20,266 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.47, for a total value of $698,569.02. Following the sale, the executive vice president now directly owns 32,366 shares in the company, valued at $1,115,656.02. This represents a 38.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 201,466 shares of company stock worth $6,973,828 in the last ninety days. 0.63% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on BWA. JPMorgan Chase & Co. decreased their price objective on BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Wolfe Research initiated coverage on shares of BorgWarner in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. StockNews.com raised shares of BorgWarner from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Evercore ISI raised 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 report on Monday, October 14th. Finally, Robert W. Baird boosted their price target on shares of BorgWarner from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, BorgWarner currently has an average rating of “Moderate Buy” and an average price target of $41.21.

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.