Glenmede Trust Co. NA Purchases 93,220 Shares of BorgWarner Inc. (NYSE:BWA)

Glenmede Trust Co. NA grew its position in BorgWarner Inc. (NYSE:BWA) by 44.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 304,243 shares of the auto parts company’s stock after acquiring an additional 93,220 shares during the period. Glenmede Trust Co. NA owned about 0.14% of BorgWarner worth $11,041,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Matrix Trust Co acquired a new stake in BorgWarner in the 3rd quarter valued at about $25,000. LRI Investments LLC raised its stake in BorgWarner by 2,685.3% in the second quarter. LRI Investments LLC now owns 947 shares of the auto parts company’s stock valued at $31,000 after buying an additional 913 shares during the period. Sentry Investment Management LLC acquired a new stake in shares of BorgWarner in the second quarter valued at approximately $32,000. Brooklyn Investment Group bought a new position in shares of BorgWarner during the 3rd quarter worth approximately $32,000. Finally, Olistico Wealth LLC acquired a new position in shares of BorgWarner during the 2nd quarter worth approximately $35,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BWA. Evercore ISI raised BorgWarner from an “in-line” rating to an “outperform” rating and raised their price target for the company from $39.00 to $43.00 in a report on Monday, October 14th. The Goldman Sachs Group cut their target price on shares of BorgWarner from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price target 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. Deutsche Bank Aktiengesellschaft raised their price objective 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. Finally, Wolfe Research assumed coverage on BorgWarner in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.21.

BorgWarner Stock Up 0.1 %

Shares of NYSE BWA opened at $34.30 on Friday. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $38.22. The stock’s fifty day moving average is $34.56 and its 200 day moving average is $33.85. 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 has a market capitalization of $7.50 billion, a P/E ratio of 8.71, a PEG ratio of 0.76 and a beta of 1.20.

BorgWarner (NYSE:BWA) last issued its earnings results on Thursday, October 31st. The auto parts company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.92 by $0.17. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.50 billion. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 EPS. Sell-side analysts forecast that BorgWarner Inc. will post 4.22 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.11 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.44 annualized dividend and a dividend yield of 1.28%. BorgWarner’s payout ratio is 11.17%.

Insider Transactions at BorgWarner

In other BorgWarner news, VP Stefan Demmerle sold 20,544 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $34.28, for a total transaction of $704,248.32. Following the completion of the transaction, the vice president now owns 206,969 shares of the company’s stock, valued at approximately $7,094,897.32. The trade was a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederic Lissalde sold 154,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 259,957 shares of the company’s stock, valued at $8,997,111.77. This trade represents a 37.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 222,010 shares of company stock valued at $7,678,076. Corporate insiders own 0.45% of the company’s stock.

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.