Trexquant Investment LP Sells 23,012 Shares of BorgWarner Inc. (BWA)

Trexquant Investment LP lowered its position in shares of BorgWarner Inc. (NYSE:BWA) by 29.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,104 shares of the auto parts company’s stock after selling 23,012 shares during the quarter. Trexquant Investment LP’s holdings in BorgWarner were worth $2,315,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BWA. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of BorgWarner during the third quarter worth $146,000. AdvisorNet Financial Inc grew its stake in shares of BorgWarner by 72.7% during the second quarter. AdvisorNet Financial Inc now owns 5,267 shares of the auto parts company’s stock worth $227,000 after purchasing an additional 2,218 shares during the period. Zweig DiMenna Associates LLC acquired a new stake in shares of BorgWarner during the second quarter worth $237,000. BB&T Securities LLC grew its stake in shares of BorgWarner by 33.2% during the second quarter. BB&T Securities LLC now owns 5,681 shares of the auto parts company’s stock worth $245,000 after purchasing an additional 1,415 shares during the period. Finally, CIBC World Markets Inc. acquired a new stake in shares of BorgWarner during the third quarter worth $255,000. Institutional investors own 93.35% of the company’s stock.

A number of brokerages recently commented on BWA. BMO Capital Markets set a $60.00 price objective on BorgWarner and gave the stock a “buy” rating in a research note on Thursday, September 20th. Citigroup decreased their price objective on BorgWarner from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, July 30th. ValuEngine cut BorgWarner from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 1st. Buckingham Research decreased their price objective on BorgWarner from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Wednesday, October 3rd. Finally, Royal Bank of Canada decreased their price objective on BorgWarner to $49.00 and set a “positive” rating for the company in a research note on Wednesday, September 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $54.23.

In other BorgWarner news, VP Joel Wiegert sold 4,000 shares of the business’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $39.57, for a total value of $158,280.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brady D. Ericson sold 16,780 shares of the business’s stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $39.70, for a total value of $666,166.00. Following the completion of the transaction, the insider now directly owns 18,089 shares of the company’s stock, valued at $718,133.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,472 shares of company stock valued at $1,126,972. Insiders own 0.74% of the company’s stock.

NYSE:BWA opened at $39.48 on Monday. BorgWarner Inc. has a 1 year low of $35.71 and a 1 year high of $58.22. The company has a quick ratio of 1.28, a current ratio of 1.66 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 1.34 and a beta of 1.81.

BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, October 25th. The auto parts company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. BorgWarner had a return on equity of 22.68% and a net margin of 5.26%. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.45 billion. As a group, equities research analysts anticipate that BorgWarner Inc. will post 4.38 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.72%. BorgWarner’s payout ratio is 17.48%.

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About BorgWarner

BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates through two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; and timing systems, such as timing chains, variable cam timing products, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains for light vehicles, and hybrid power transmission chains.

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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