Canada Pension Plan Investment Board lowered its stake in BorgWarner Inc. (NYSE:BWA) by 18.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,259 shares of the auto parts company’s stock after selling 43,900 shares during the period. Canada Pension Plan Investment Board’s holdings in BorgWarner were worth $8,225,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in BorgWarner in the third quarter valued at approximately $146,000. BB&T Securities LLC boosted its position in BorgWarner by 33.2% in the second quarter. BB&T Securities LLC now owns 5,681 shares of the auto parts company’s stock valued at $245,000 after buying an additional 1,415 shares in the last quarter. CIBC World Markets Inc. acquired a new stake in BorgWarner in the third quarter valued at approximately $255,000. Tower Research Capital LLC TRC boosted its position in BorgWarner by 277.8% in the second quarter. Tower Research Capital LLC TRC now owns 6,007 shares of the auto parts company’s stock valued at $259,000 after buying an additional 4,417 shares in the last quarter. Finally, Yorktown Management & Research Co Inc acquired a new stake in BorgWarner in the second quarter valued at approximately $263,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

A number of brokerages have weighed in on BWA. Buckingham Research cut their target price on shares of BorgWarner from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 3rd. Oppenheimer restated a “buy” rating and issued a $51.00 target price on shares of BorgWarner in a research report on Thursday, October 25th. Jefferies Financial Group began coverage on shares of BorgWarner in a research report on Tuesday. They issued a “buy” rating and a $48.00 target price on the stock. Morgan Stanley cut their target price on shares of BorgWarner from $61.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, November 14th. Finally, ValuEngine lowered shares of BorgWarner from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.79.

In other news, insider Brady D. Ericson sold 16,780 shares of the firm’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $39.70, for a total transaction of $666,166.00. Following the completion of the transaction, the insider now owns 18,089 shares of the company’s stock, valued at $718,133.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexis P. Michas sold 10,003 shares of the firm’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $39.99, for a total transaction of $400,019.97. Following the transaction, the director now directly owns 78,223 shares of the company’s stock, valued at approximately $3,128,137.77. The disclosure for this sale can be found here. Insiders have sold 38,475 shares of company stock valued at $1,526,992 in the last ninety days. Insiders own 0.74% of the company’s stock.

BWA stock opened at $35.74 on Friday. The firm has a market cap of $7.84 billion, a PE ratio of 9.19, a price-to-earnings-growth ratio of 1.20 and a beta of 1.80. BorgWarner Inc. has a 52-week low of $35.56 and a 52-week high of $58.22. The company has a quick ratio of 1.28, a current ratio of 1.66 and a debt-to-equity ratio of 0.50.

BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, October 25th. The auto parts company reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.01. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.45 billion. BorgWarner had a net margin of 5.26% and a return on equity of 22.68%. On average, research analysts predict that BorgWarner Inc. will post 4.37 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, November 30th. BorgWarner’s payout ratio is currently 17.48%.

TRADEMARK VIOLATION WARNING: “BorgWarner Inc. (BWA) Shares Sold by Canada Pension Plan Investment Board” was originally reported by Watch List News and is the property of of Watch List News. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.watchlistnews.com/borgwarner-inc-bwa-shares-sold-by-canada-pension-plan-investment-board/2669562.html.

BorgWarner Company Profile

BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates through two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; and timing systems, such as timing chains, variable cam timing products, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains for light vehicles, and hybrid power transmission chains.

Further Reading: How mutual funds make money

Want to see what other hedge funds are holding BWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BorgWarner Inc. (NYSE:BWA).

Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

Receive News & Ratings for BorgWarner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BorgWarner and related companies with MarketBeat.com's FREE daily email newsletter.