Oppenheimer & Co. Inc. Sells 10,935 Shares of BorgWarner Inc. $BWA

Oppenheimer & Co. Inc. trimmed its position in shares of BorgWarner Inc. (NYSE:BWA) by 58.2% during the third quarter, HoldingsChannel reports. The firm owned 7,866 shares of the auto parts company’s stock after selling 10,935 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in BorgWarner were worth $473,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Clearstead Trust LLC bought a new stake in shares of BorgWarner in the 2nd quarter valued at $28,000. Ceredex Value Advisors LLC acquired a new stake in BorgWarner during the 2nd quarter worth $40,000. Fiduciary Financial Advisors bought a new position in BorgWarner during the second quarter worth about $49,000. Jones Financial Companies Lllp bought a new position in BorgWarner during the second quarter worth about $57,000. Finally, Grove Bank & Trust lifted its holdings in BorgWarner by 4,304.3% during the second quarter. Grove Bank & Trust now owns 1,013 shares of the auto parts company’s stock worth $67,000 after acquiring an additional 990 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

Insider Activity

In other news, CAO Amy Kulikowski sold 2,900 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $68.60, for a total value of $198,940.00. Following the completion of the transaction, the chief accounting officer owned 9,725 shares in the company, valued at $667,135. This trade represents a 22.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Hanley sold 5,000 shares of BorgWarner stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $65.51, for a total value of $327,550.00. Following the completion of the sale, the director directly owned 34,313 shares in the company, valued at approximately $2,247,844.63. This represents a 12.72% decrease in their position. The SEC filing for this sale provides additional information. 0.76% of the stock is owned by corporate insiders.

BorgWarner Stock Performance

Shares of BWA opened at $47.50 on Friday. BorgWarner Inc. has a 12 month low of $40.73 and a 12 month high of $78.82. The firm has a fifty day simple moving average of $60.10 and a 200 day simple moving average of $60.58. The stock has a market capitalization of $9.54 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 0.71 and a beta of 1.20. The company has a current ratio of 1.41, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, October 29th. The auto parts company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.14. BorgWarner had a net margin of 3.36% and a return on equity of 19.61%. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the business earned $1.24 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. Research analysts forecast that BorgWarner Inc. will post 5.27 EPS for the current fiscal year.

BorgWarner declared that its Board of Directors has approved a share buyback plan on Wednesday, August 5th that authorizes the company to buy back $1 billion in outstanding shares. This repurchase authorization authorizes the auto parts company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley decreased their target price on BorgWarner from $95.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BorgWarner in a research report on Friday, September 25th. JPMorgan Chase & Co. raised their price target on BorgWarner from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Bank of America upgraded BorgWarner from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $78.00 to $85.00 in a report on Thursday, October 15th. Finally, Deutsche Bank Aktiengesellschaft set a $80.00 price objective on BorgWarner in a research report on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

BorgWarner Company Profile

BorgWarner Inc (NYSE:BWA) is a global automotive technology company that develops and manufactures propulsion and mobility systems for vehicle manufacturers and commercial vehicle customers. The company serves both internal-combustion and electrified vehicle markets, with a portfolio focused on improving vehicle efficiency, performance, emissions, and electrification.

Its products and technologies include turbochargers, emissions and thermal-management systems, transmission components, friction products, battery systems, battery charging equipment, power electronics, electric motors, and other electric-drive components.