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.
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%.
COPYRIGHT VIOLATION WARNING: This news story was originally posted by WKRB News and is the sole property of of WKRB News. If you are reading this news story on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this news story can be read at https://www.wkrb13.com/2018/11/26/trexquant-investment-lp-sells-23012-shares-of-borgwarner-inc-bwa.html.
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.
Featured Article: Fundamental Analysis and Individual Investors
Receive News & Ratings for BorgWarner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BorgWarner and related companies with MarketBeat.com's FREE daily email newsletter.