BorgWarner Inc. (NYSE:BWA) Stock Holdings Lifted by New York State Common Retirement Fund

New York State Common Retirement Fund increased its position in BorgWarner Inc. (NYSE:BWA) by 19.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 492,041 shares of the auto parts company’s stock after acquiring an additional 80,106 shares during the period. New York State Common Retirement Fund owned approximately 0.22% of BorgWarner worth $17,856,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BWA. Janney Montgomery Scott LLC increased its holdings in shares of BorgWarner by 16.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 33,040 shares of the auto parts company’s stock worth $1,148,000 after acquiring an additional 4,650 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of BorgWarner by 4.9% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,655 shares of the auto parts company’s stock worth $301,000 after acquiring an additional 402 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of BorgWarner by 9.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 23,011 shares of the auto parts company’s stock worth $799,000 after acquiring an additional 2,072 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of BorgWarner by 12,144.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,102 shares of the auto parts company’s stock worth $38,000 after acquiring an additional 1,093 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of BorgWarner in the 1st quarter worth about $280,000. Institutional investors and hedge funds own 95.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Bank of America lowered their target price on shares of BorgWarner from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. UBS Group raised their price objective on shares of BorgWarner from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Evercore ISI upgraded shares of BorgWarner from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $39.00 to $43.00 in a research report on Monday, October 14th. Robert W. Baird raised their price objective on shares of BorgWarner from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Barclays raised their price objective on shares of BorgWarner from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, BorgWarner has an average rating of “Moderate Buy” and a consensus price target of $41.44.

BorgWarner Stock Performance

BWA stock opened at $34.02 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.48 and a current ratio of 1.84. The stock has a market cap of $7.44 billion, a P/E ratio of 8.63, a P/E/G ratio of 0.70 and a beta of 1.20. The firm has a 50 day simple moving average of $34.05 and a 200 day simple moving average of $33.89. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $38.22.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.09 EPS 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 analysts’ expectations of $3.50 billion. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. Research analysts anticipate that BorgWarner Inc. will post 4.23 earnings per share for the current fiscal year.

Insider Activity at BorgWarner

In related news, EVP Tania Wingfield sold 2,066 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.00, for a total transaction of $66,112.00. Following the transaction, the executive vice president now owns 46,016 shares of the company’s stock, valued at approximately $1,472,512. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.63% 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.