Point72 Asia Singapore Pte. Ltd. Sells 7,170 Shares of BorgWarner Inc. (NYSE:BWA)

Point72 Asia Singapore Pte. Ltd. reduced its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 15.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 38,923 shares of the auto parts company’s stock after selling 7,170 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in BorgWarner were worth $1,413,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Matrix Trust Co bought a new position in shares of BorgWarner during the 3rd quarter worth approximately $25,000. LRI Investments LLC boosted its stake in shares of BorgWarner by 2,685.3% during the 2nd quarter. LRI Investments LLC now owns 947 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 913 shares during the period. Sentry Investment Management LLC bought a new position in shares of BorgWarner during the 2nd quarter worth approximately $32,000. Brooklyn Investment Group bought a new position in shares of BorgWarner during the 3rd quarter worth approximately $32,000. Finally, Olistico Wealth LLC bought a new position in shares of BorgWarner during the 2nd quarter worth approximately $35,000. 95.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on BWA. Wolfe Research began coverage on BorgWarner in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Evercore ISI raised BorgWarner from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $39.00 to $43.00 in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price target on BorgWarner from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their price target on BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, The Goldman Sachs Group dropped their price target on BorgWarner from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.21.

Insider Activity

In other news, EVP Paul Arthur Farrell sold 20,266 shares of BorgWarner stock in a transaction 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 transaction, the executive vice president now owns 32,366 shares in the company, valued at approximately $1,115,656.02. This trade represents a 38.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frederic Lissalde sold 154,000 shares of BorgWarner stock in a transaction 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 completion of the transaction, the chief executive officer now owns 259,957 shares in the company, valued at approximately $8,997,111.77. The trade was a 37.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 222,010 shares of company stock worth $7,678,076. Insiders own 0.45% of the company’s stock.

BorgWarner Price Performance

Shares of NYSE BWA opened at $34.32 on Monday. The stock has a market capitalization of $7.51 billion, a PE ratio of 8.71, a P/E/G ratio of 0.76 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 1.48. The business has a fifty day moving average price of $34.57 and a two-hundred day moving average price of $33.80. BorgWarner Inc. has a fifty-two week low of $29.51 and a fifty-two week high of $38.22.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 earnings per share 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 firm had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the firm earned $0.98 EPS. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, equities 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 paid a $0.11 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.44 annualized dividend and a dividend yield of 1.28%. BorgWarner’s payout ratio is 11.17%.

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.