Wedge Capital Management L L P NC Sells 23,824 Shares of BorgWarner Inc. (NYSE:BWA)

Wedge Capital Management L L P NC cut its stake in BorgWarner Inc. (NYSE:BWA) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 342,861 shares of the auto parts company’s stock after selling 23,824 shares during the period. Wedge Capital Management L L P NC’s holdings in BorgWarner were worth $10,900,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Matrix Trust Co acquired a new position in shares of BorgWarner during the third quarter valued at about $25,000. Brooklyn Investment Group acquired a new position in BorgWarner in the 3rd quarter valued at approximately $32,000. True Wealth Design LLC bought a new stake in shares of BorgWarner in the 3rd quarter worth approximately $38,000. Trust Co. of Vermont lifted its position in shares of BorgWarner by 88.1% in the 3rd quarter. Trust Co. of Vermont now owns 1,377 shares of the auto parts company’s stock worth $50,000 after acquiring an additional 645 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of BorgWarner during the third quarter valued at approximately $62,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BorgWarner

In other news, CEO Frederic Lissalde sold 154,000 shares of the company’s stock in a transaction 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. This represents a 37.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Stefan Demmerle sold 21,500 shares of BorgWarner stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $34.79, for a total value of $747,985.00. Following the completion of the sale, the vice president now owns 227,513 shares of the company’s stock, valued at approximately $7,915,177.27. The trade was a 8.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 222,010 shares of company stock worth $7,678,076. Insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BWA. Wells Fargo & Company reduced their target price on BorgWarner from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. The Goldman Sachs Group decreased their target price on shares of BorgWarner from $35.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on shares of BorgWarner from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Evercore ISI raised BorgWarner from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $39.00 to $43.00 in a report on Monday, October 14th. Finally, Guggenheim reissued a “buy” rating and issued a $41.00 target price on shares of BorgWarner in a report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.73.

BorgWarner Price Performance

Shares of BWA stock opened at $32.33 on Friday. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $38.22. The stock has a market capitalization of $7.07 billion, a PE ratio of 8.21, a PEG ratio of 0.62 and a beta of 1.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.48 and a current ratio of 1.84. The stock’s fifty day moving average is $33.14 and its 200-day moving average is $33.37.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The company’s revenue was down 4.8% on a year-over-year basis. Equities research analysts expect that BorgWarner Inc. will post 4.22 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.36%. The ex-dividend date was Monday, December 2nd. BorgWarner’s dividend payout ratio is 11.17%.

BorgWarner Company Profile

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.