BorgWarner Inc. (NYSE:BWA) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 18.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 701,618 shares of the auto parts company’s stock after acquiring an additional 109,468 shares during the period. Retirement Systems of Alabama owned about 0.30% of BorgWarner worth $25,153,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Parkside Investments LLC lifted its stake in BorgWarner by 28.7% in the 4th quarter. Parkside Investments LLC now owns 196,889 shares of the auto parts company’s stock valued at $7,058,000 after buying an additional 43,955 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in BorgWarner by 9.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 699,974 shares of the auto parts company’s stock valued at $25,094,000 after acquiring an additional 59,925 shares during the period. Kennedy Capital Management LLC purchased a new position in shares of BorgWarner in the 3rd quarter worth about $833,000. Illinois Municipal Retirement Fund lifted its stake in shares of BorgWarner by 84.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 260,556 shares of the auto parts company’s stock valued at $9,341,000 after purchasing an additional 119,170 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of BorgWarner by 24.8% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 180,942 shares of the auto parts company’s stock worth $7,305,000 after purchasing an additional 35,986 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BWA. The Goldman Sachs Group cut their price target on shares of BorgWarner from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. JPMorgan Chase & Co. lowered their price target on BorgWarner from $59.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. BNP Paribas cut BorgWarner from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $43.00 to $35.00 in a research note on Tuesday, February 20th. Piper Sandler began coverage on BorgWarner in a research note on Friday, March 15th. They issued an “overweight” rating and a $43.00 target price for the company. Finally, Wells Fargo & Company reduced their price target on BorgWarner from $47.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.30.

Insiders Place Their Bets

In related news, CEO Frederic Lissalde sold 225,900 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $31.08, for a total transaction of $7,020,972.00. Following the completion of the transaction, the chief executive officer now directly owns 455,227 shares in the company, valued at approximately $14,148,455.16. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, VP Stefan Demmerle sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total transaction of $99,000.00. Following the completion of the transaction, the vice president now directly owns 249,013 shares in the company, valued at $8,217,429. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frederic Lissalde sold 225,900 shares of BorgWarner stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $31.08, for a total value of $7,020,972.00. Following the sale, the chief executive officer now directly owns 455,227 shares in the company, valued at approximately $14,148,455.16. The disclosure for this sale can be found here. Insiders have sold 287,503 shares of company stock valued at $9,015,478 over the last quarter. Insiders own 0.63% of the company’s stock.

BorgWarner Trading Up 1.6 %

Shares of NYSE BWA opened at $33.73 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.65 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average price is $32.71 and its two-hundred day moving average price is $33.86. BorgWarner Inc. has a 52-week low of $29.51 and a 52-week high of $50.04. The stock has a market capitalization of $7.75 billion, a P/E ratio of 12.63, a PEG ratio of 0.99 and a beta of 1.30.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, February 8th. The auto parts company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.03). BorgWarner had a net margin of 3.94% and a return on equity of 14.69%. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same period in the prior year, the company posted $1.26 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. On average, analysts anticipate that BorgWarner Inc. will post 3.9 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.44 annualized dividend and a yield of 1.30%. BorgWarner’s dividend payout ratio (DPR) is 16.48%.

BorgWarner 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.