Oppenheimer Asset Management Inc. Sells 845 Shares of BorgWarner Inc. (NYSE:BWA)

Oppenheimer Asset Management Inc. cut its stake in BorgWarner Inc. (NYSE:BWA) by 2.5% in the fourth quarter, Holdings Channel reports. The firm owned 33,383 shares of the auto parts company’s stock after selling 845 shares during the period. Oppenheimer Asset Management Inc.’s holdings in BorgWarner were worth $1,061,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of BWA. Brooklyn Investment Group purchased a new position in BorgWarner during the 3rd quarter worth approximately $32,000. True Wealth Design LLC purchased a new position in BorgWarner during the 3rd quarter worth approximately $38,000. Avior Wealth Management LLC raised its position in BorgWarner by 31.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company’s stock worth $46,000 after buying an additional 342 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in BorgWarner during the 3rd quarter worth approximately $62,000. Finally, Principal Securities Inc. raised its position in BorgWarner by 59.1% during the 4th quarter. Principal Securities Inc. now owns 1,939 shares of the auto parts company’s stock worth $62,000 after buying an additional 720 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

BorgWarner Stock Down 2.4 %

Shares of BWA opened at $28.15 on Wednesday. The firm has a market cap of $6.15 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. BorgWarner Inc. has a 12-month low of $27.90 and a 12-month high of $38.22. The company’s 50-day moving average price is $31.17 and its 200 day moving average price is $32.98. The company has a current ratio of 1.79, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. On average, sell-side analysts forecast that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 1.56%. BorgWarner’s dividend payout ratio (DPR) is presently 30.77%.

Insiders Place Their Bets

In other BorgWarner news, CAO Tonit M. Calaway sold 13,500 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $30.16, for a total transaction of $407,160.00. Following the sale, the chief accounting officer now directly owns 259,310 shares in the company, valued at $7,820,789.60. This represents a 4.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BWA. Guggenheim reissued a “buy” rating and set a $41.00 price target on shares of BorgWarner in a research report on Thursday, December 12th. The Goldman Sachs Group cut their target price on shares of BorgWarner from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Barclays cut their target price on shares of BorgWarner from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Morgan Stanley cut their target price on shares of BorgWarner from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Monday. Finally, Evercore ISI cut their target price on shares of BorgWarner from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BorgWarner has an average rating of “Moderate Buy” and a consensus price target of $40.53.

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.