Maryland State Retirement & Pension System Reduces Stock Holdings in BorgWarner Inc. (NYSE:BWA)

Maryland State Retirement & Pension System reduced its stake in shares of BorgWarner Inc. (NYSE:BWA) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,626 shares of the auto parts company’s stock after selling 1,507 shares during the quarter. Maryland State Retirement & Pension System’s holdings in BorgWarner were worth $370,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BWA. Avior Wealth Management LLC raised its stake in BorgWarner by 31.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company’s stock worth $46,000 after buying an additional 342 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of BorgWarner by 0.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 54,432 shares of the auto parts company’s stock worth $1,730,000 after acquiring an additional 381 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of BorgWarner by 0.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 76,168 shares of the auto parts company’s stock worth $2,421,000 after acquiring an additional 393 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of BorgWarner by 1.4% in the 3rd quarter. Wellington Management Group LLP now owns 27,629 shares of the auto parts company’s stock valued at $1,003,000 after purchasing an additional 394 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of BorgWarner by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 48,349 shares of the auto parts company’s stock valued at $1,537,000 after purchasing an additional 450 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

BorgWarner Stock Up 0.4 %

Shares of BorgWarner stock opened at $29.56 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.79 and a debt-to-equity ratio of 0.66. BorgWarner Inc. has a twelve month low of $27.65 and a twelve month high of $38.23. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 0.77 and a beta of 1.21. The company’s 50 day moving average is $30.27 and its 200 day moving average is $32.49.

BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. Research analysts anticipate that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, March 3rd. BorgWarner’s payout ratio is 30.77%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BWA. Piper Sandler decreased their price objective on BorgWarner from $43.00 to $36.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. TD Cowen lowered shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research note on Friday, March 7th. JPMorgan Chase & Co. dropped their price objective on shares of BorgWarner from $51.00 to $49.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. The Goldman Sachs Group decreased their target price on shares of BorgWarner from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Evercore ISI cut their price target on BorgWarner from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, BorgWarner presently has an average rating of “Moderate Buy” and an average price target of $39.06.

Insider Buying and Selling at BorgWarner

In other news, CAO Tonit M. Calaway sold 13,500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $30.16, for a total value of $407,160.00. Following the completion of the sale, the chief accounting officer now directly owns 259,310 shares in the company, valued at $7,820,789.60. This represents a 4.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Tania Wingfield sold 24,000 shares of BorgWarner stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total value of $690,960.00. Following the transaction, the executive vice president now owns 39,110 shares in the company, valued at $1,125,976.90. This trade represents a 38.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,800 shares of company stock valued at $1,347,701. 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.