Peapack Gladstone Financial Corp Raises Stock Position in BorgWarner Inc. (NYSE:BWA)

Peapack Gladstone Financial Corp increased its position in shares of BorgWarner Inc. (NYSE:BWA) by 2.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 107,336 shares of the auto parts company’s stock after purchasing an additional 2,067 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in BorgWarner were worth $3,896,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in BorgWarner during the 3rd quarter worth approximately $62,000. Pine Valley Investments Ltd Liability Co grew its stake in shares of BorgWarner by 8.4% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,100 shares of the auto parts company’s stock worth $258,000 after purchasing an additional 550 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of BorgWarner by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,384,366 shares of the auto parts company’s stock valued at $231,376,000 after acquiring an additional 217,050 shares during the last quarter. Vestcor Inc acquired a new stake in BorgWarner during the third quarter worth approximately $567,000. Finally, Executive Wealth Management LLC acquired a new stake in BorgWarner during the 3rd quarter worth $1,546,000. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at BorgWarner

In related news, VP Stefan Demmerle sold 21,500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $34.79, for a total transaction of $747,985.00. Following the completion of the transaction, the vice president now owns 227,513 shares in the company, valued at approximately $7,915,177.27. The trade was a 8.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frederic Lissalde sold 154,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were 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. Insiders sold a total of 222,010 shares of company stock valued at $7,678,076 over the last quarter. Corporate insiders own 0.45% of the company’s stock.

BorgWarner Stock Down 2.9 %

BWA opened at $34.05 on Friday. BorgWarner Inc. has a twelve month low of $29.51 and a twelve month high of $38.22. 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 firm has a market cap of $7.45 billion, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 0.77 and a beta of 1.19. The business has a 50 day moving average price of $34.38 and a 200 day moving average price of $33.66.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. The firm had revenue of $3.45 billion for 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%. During the same quarter in the previous year, the company earned $0.98 earnings per share. The business’s revenue was down 4.8% compared to the same quarter last year. Research analysts forecast that BorgWarner Inc. will post 4.22 EPS for the current year.

BorgWarner Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.11 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.29%. BorgWarner’s dividend payout ratio is 11.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BWA shares. Evercore ISI upgraded shares of 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 research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft boosted their target price on BorgWarner from $38.00 to $39.00 and gave the company a “hold” rating in a report on Monday, November 4th. Guggenheim restated a “buy” rating and issued a $41.00 target price on shares of BorgWarner in a research note on Thursday. Wolfe Research started coverage on BorgWarner in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. lowered their target price 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. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $41.20.

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.