BorgWarner Inc. (NYSE:BWA) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its stake in shares of BorgWarner Inc. (NYSE:BWA) by 7.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,868 shares of the auto parts company’s stock after selling 1,301 shares during the period. Kentucky Retirement Systems’ holdings in BorgWarner were worth $576,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Spectrum Asset Management Inc. NB CA increased its position in shares of BorgWarner by 0.5% during the third quarter. Spectrum Asset Management Inc. NB CA now owns 59,457 shares of the auto parts company’s stock valued at $2,158,000 after acquiring an additional 316 shares during the last quarter. First Pacific Financial increased its position in shares of BorgWarner by 3.6% during the second quarter. First Pacific Financial now owns 9,763 shares of the auto parts company’s stock valued at $315,000 after acquiring an additional 340 shares during the last quarter. Alpha Omega Wealth Management LLC increased its position in shares of BorgWarner by 2.2% during the third quarter. Alpha Omega Wealth Management LLC now owns 16,599 shares of the auto parts company’s stock valued at $602,000 after acquiring an additional 350 shares during the last quarter. PFG Investments LLC increased its position in shares of BorgWarner by 4.6% during the third quarter. PFG Investments LLC now owns 9,435 shares of the auto parts company’s stock valued at $342,000 after acquiring an additional 414 shares during the last quarter. Finally, Conscious Wealth Investments LLC increased its position in shares of BorgWarner by 0.6% during the second quarter. Conscious Wealth Investments LLC now owns 81,684 shares of the auto parts company’s stock valued at $2,659,000 after acquiring an additional 478 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BorgWarner

In related news, VP Isabelle Mckenzie sold 5,700 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.62, for a total value of $197,334.00. Following the completion of the sale, the vice president now owns 37,640 shares in the company, valued at $1,303,096.80. This represents a 13.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul Arthur Farrell sold 20,266 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.47, for a total transaction of $698,569.02. Following the completion of the sale, the executive vice president now owns 32,366 shares of the company’s stock, valued at approximately $1,115,656.02. This trade represents a 38.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,466 shares of company stock worth $6,973,828. 0.63% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BWA has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price objective on shares of BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, October 21st. The Goldman Sachs Group dropped their price objective on shares of BorgWarner from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. StockNews.com upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BorgWarner from $38.00 to $39.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company dropped their price objective on shares of BorgWarner from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, BorgWarner has a consensus rating of “Moderate Buy” and a consensus price target of $41.21.

BorgWarner Stock Down 3.7 %

Shares of BorgWarner stock opened at $33.12 on Wednesday. BorgWarner Inc. has a 52-week low of $29.51 and a 52-week high of $38.22. The company has a 50 day moving average of $34.33 and a 200 day moving average of $33.95. The company has a quick ratio of 1.48, a current ratio of 1.84 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $7.24 billion, a P/E ratio of 8.41, a P/E/G ratio of 0.71 and a beta of 1.20.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.17. The business had revenue of $3.45 billion during 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%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 EPS. As a group, research analysts forecast that BorgWarner Inc. will post 4.23 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.11 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.44 annualized dividend and a dividend yield of 1.33%. BorgWarner’s dividend payout ratio is presently 11.17%.

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.