BorgWarner Inc. (NYSE:BWA) Holdings Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,870 shares of the auto parts company’s stock after selling 2,856 shares during the quarter. PNC Financial Services Group Inc.’s holdings in BorgWarner were worth $2,253,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of BorgWarner during the 3rd quarter valued at $32,000. True Wealth Design LLC bought a new position in shares of BorgWarner during the 3rd quarter valued at $38,000. Avior Wealth Management LLC raised its holdings in shares of BorgWarner by 31.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company’s stock valued at $46,000 after purchasing an additional 342 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of BorgWarner during the 3rd quarter valued at $62,000. Finally, Principal Securities Inc. raised its holdings in shares of BorgWarner by 59.1% during the 4th quarter. Principal Securities Inc. now owns 1,939 shares of the auto parts company’s stock valued at $62,000 after purchasing an additional 720 shares in the last quarter. Institutional investors own 95.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BWA. TD Cowen downgraded shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Friday, March 7th. JPMorgan Chase & Co. dropped their target price on shares of BorgWarner from $51.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Cowen downgraded shares of BorgWarner from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Barclays dropped their target price on shares of BorgWarner from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Finally, StockNews.com downgraded shares of BorgWarner from a “buy” rating to a “hold” rating in a report on Friday. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, BorgWarner presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.73.

Insider Activity

In other news, CAO Tonit M. Calaway sold 13,500 shares of BorgWarner stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $30.16, for a total transaction of $407,160.00. Following the sale, the chief accounting officer now directly owns 259,310 shares in the company, valued at approximately $7,820,789.60. The trade was a 4.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tania Wingfield sold 24,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total transaction of $690,960.00. Following the completion of the transaction, the executive vice president now owns 39,110 shares in the company, valued at approximately $1,125,976.90. This trade represents a 38.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,800 shares of company stock worth $1,347,701. Corporate insiders own 0.63% of the company’s stock.

BorgWarner Stock Performance

NYSE BWA opened at $28.72 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45. The company’s fifty day moving average is $30.70 and its two-hundred day moving average is $32.76. BorgWarner Inc. has a 52-week low of $27.65 and a 52-week high of $38.23. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 0.77 and a beta of 1.21.

BorgWarner (NYSE:BWA) last issued its earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.08. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. Equities research analysts forecast that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.11 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.44 annualized dividend and a dividend yield of 1.53%. BorgWarner’s dividend payout ratio (DPR) is currently 30.77%.

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.