Geode Capital Management LLC Has $231.38 Million Position in BorgWarner Inc. (NYSE:BWA)

Geode Capital Management LLC increased its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,384,366 shares of the auto parts company’s stock after buying an additional 217,050 shares during the period. Geode Capital Management LLC’s holdings in BorgWarner were worth $231,376,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vestcor Inc acquired a new position in shares of BorgWarner during the third quarter worth $567,000. Executive Wealth Management LLC acquired a new position in BorgWarner during the 3rd quarter worth about $1,546,000. Barclays PLC grew its position in shares of BorgWarner by 14.7% in the 3rd quarter. Barclays PLC now owns 443,476 shares of the auto parts company’s stock valued at $16,092,000 after buying an additional 56,988 shares during the last quarter. Geller Advisors LLC acquired a new stake in shares of BorgWarner in the third quarter valued at about $212,000. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of BorgWarner by 11.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 6,784 shares of the auto parts company’s stock worth $246,000 after acquiring an additional 671 shares during the last quarter. 95.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Frederic Lissalde sold 154,000 shares of BorgWarner stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.61, for a total transaction of $5,329,940.00. Following the transaction, the chief executive officer now owns 259,957 shares of the company’s stock, valued at $8,997,111.77. The trade was a 37.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Stefan Demmerle sold 20,544 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $34.28, for a total value of $704,248.32. Following the completion of the sale, the vice president now directly owns 206,969 shares of the company’s stock, valued at $7,094,897.32. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 222,010 shares of company stock worth $7,678,076 in the last quarter. Insiders own 0.45% of the company’s stock.

BorgWarner Stock Down 2.9 %

Shares of NYSE:BWA opened at $34.05 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.48 and a current ratio of 1.84. BorgWarner Inc. has a 52-week low of $29.51 and a 52-week high of $38.22. The business’s 50 day simple moving average is $34.38 and its two-hundred day simple moving average is $33.66. The firm has a market cap of $7.45 billion, a P/E ratio of 8.64, a PEG ratio of 0.77 and a beta of 1.19.

BorgWarner (NYSE:BWA) last issued its earnings results on Thursday, October 31st. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. The company had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.50 billion. BorgWarner had a return on equity of 15.51% and a net margin of 6.33%. BorgWarner’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. As a group, research analysts forecast that BorgWarner Inc. will post 4.22 EPS for the current fiscal 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 dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Monday, December 2nd. BorgWarner’s payout ratio is presently 11.17%.

Analyst Ratings Changes

Several brokerages recently commented on BWA. Wolfe Research began coverage on BorgWarner in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. reduced their price objective on shares of BorgWarner from $51.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Guggenheim reissued a “buy” rating and set a $41.00 target price on shares of BorgWarner in a research note on Thursday. Evercore ISI raised shares of BorgWarner from an “in-line” rating to an “outperform” rating and upped their price target for the company from $39.00 to $43.00 in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on BorgWarner from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.20.

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.