Auto-Parts Suppliers Winners & Losers: Johnson Controls

Updated from 2:52 p.m. ET

Shares of auto-parts suppliers traded lower on Tuesday as Wall Street issued downbeat opinions on several companies, citing the downturn in automobile demand.

Standard & Poor's Equity Research analyst Efraim Levy downgraded shares of Johnson Controls (JCI Quote) to hold from buy, in a note to investors on Tuesday. Levy said the company's earnings would be weakened by deteriorating auto demand.

Separately, credit ratings agency Moody's Investors Service cut several of its ratings on parts maker ArvinMeritor (ARM Quote), while S&P Ratings Services cut its credit ratings on Tenneco (TEN Quote)

Parts suppliers have been battered recently by the downturn in global vehicle sales, as automakers slash production and buy fewer automobile parts. Their shares mostly declined in afternoon trading. Johnson Controls fell 56 cents, or 3.1%, to $17.78. ArvinMeritor fell 15 cents, or 5.0%, to $2.87. Tenneco was down 13 cents at $2.41.

Shares of BorgWarner (BWA Quote) declined 95 cents, or 4.3%, to $21.14. American Axle & Manufacturing Holdings (AXL Quote) lost 34 cents, or 13.44, to $2.19. TRW Automotive Holdings (TRW Quote) was unchanged , to $3.45.