Victory Capital Management Inc. Sells 726,787 Shares of BorgWarner Inc. (NYSE:BWA)

Victory Capital Management Inc. lowered its stake in BorgWarner Inc. (NYSE:BWA) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,257,505 shares of the auto parts company’s stock after selling 726,787 shares during the period. Victory Capital Management Inc. owned approximately 5.60% of BorgWarner worth $444,825,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of BorgWarner by 23.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,628,733 shares of the auto parts company’s stock worth $278,190,000 after buying an additional 1,640,503 shares during the last quarter. Earnest Partners LLC grew its position in shares of BorgWarner by 20.2% during the second quarter. Earnest Partners LLC now owns 3,979,776 shares of the auto parts company’s stock worth $128,308,000 after purchasing an additional 669,137 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of BorgWarner by 361.1% during the second quarter. Point72 Asset Management L.P. now owns 2,450,696 shares of the auto parts company’s stock worth $79,010,000 after acquiring an additional 1,919,219 shares during the last quarter. Sei Investments Co. lifted its position in shares of BorgWarner by 17.1% in the second quarter. Sei Investments Co. now owns 2,217,195 shares of the auto parts company’s stock worth $71,482,000 after buying an additional 324,087 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC grew its holdings in shares of BorgWarner by 8.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,004,423 shares of the auto parts company’s stock valued at $69,634,000 after purchasing an additional 159,271 shares in the last quarter. Institutional investors own 95.67% of the company’s stock.

BorgWarner Stock Performance

BWA stock traded up $0.34 during trading on Tuesday, reaching $35.00. 646,654 shares of the stock were exchanged, compared to its average volume of 2,690,464. The company has a market capitalization of $7.65 billion, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 0.71 and a beta of 1.20. The company has a current ratio of 1.84, a quick ratio of 1.48 and a debt-to-equity ratio of 0.66. BorgWarner Inc. has a twelve month low of $29.51 and a twelve month high of $38.22. The stock has a 50 day simple moving average of $34.12 and a 200-day simple moving average of $33.94.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.17. The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.50 billion. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 earnings per share. As a group, sell-side analysts anticipate that BorgWarner Inc. will post 4.2 earnings per share for the current year.

BorgWarner Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.11 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.26%. BorgWarner’s payout ratio is presently 11.17%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. StockNews.com raised shares of BorgWarner from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Evercore ISI raised shares of BorgWarner from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $39.00 to $43.00 in a report on Monday, October 14th. JPMorgan Chase & Co. dropped their price target on shares of BorgWarner from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Robert W. Baird increased their target price on BorgWarner from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Bank of America lowered their price target on BorgWarner from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.44.

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.