Arizona State Retirement System Raises Holdings in BorgWarner Inc. (NYSE:BWA)

Arizona State Retirement System increased its position in shares of BorgWarner Inc. (NYSE:BWA) by 1.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,604 shares of the auto parts company’s stock after purchasing an additional 663 shares during the quarter. Arizona State Retirement System’s holdings in BorgWarner were worth $2,316,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of BorgWarner by 2.2% during the first quarter. Vanguard Group Inc. now owns 26,131,243 shares of the auto parts company’s stock worth $1,016,505,000 after purchasing an additional 570,039 shares in the last quarter. State Street Corp increased its position in shares of BorgWarner by 3.5% during the second quarter. State Street Corp now owns 10,449,304 shares of the auto parts company’s stock worth $511,075,000 after purchasing an additional 357,259 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of BorgWarner by 1.2% during the third quarter. Victory Capital Management Inc. now owns 8,719,779 shares of the auto parts company’s stock worth $352,017,000 after purchasing an additional 106,453 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of BorgWarner by 3.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 5,463,487 shares of the auto parts company’s stock worth $220,561,000 after purchasing an additional 166,007 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in shares of BorgWarner by 10.0% during the first quarter. Macquarie Group Ltd. now owns 5,322,946 shares of the auto parts company’s stock worth $261,410,000 after purchasing an additional 484,794 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price 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 dropped their target price for the company from $43.00 to $35.00 in a report on Tuesday, February 20th. StockNews.com cut BorgWarner from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Piper Sandler assumed coverage on BorgWarner in a report on Friday, March 15th. They issued an “overweight” rating and a $43.00 target price for the company. Finally, Wells Fargo & Company dropped their target price on BorgWarner from $47.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $44.05.

BorgWarner Stock Down 2.2 %

BorgWarner stock opened at $34.83 on Thursday. The firm has a market capitalization of $8.00 billion, a P/E ratio of 13.04, a P/E/G ratio of 0.99 and a beta of 1.31. The company has a current ratio of 1.65, a quick ratio of 1.30 and a debt-to-equity ratio of 0.61. BorgWarner Inc. has a twelve month low of $29.51 and a twelve month high of $50.04. The stock’s fifty day simple moving average is $32.57 and its 200-day simple moving average is $34.47.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, February 8th. The auto parts company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.03). BorgWarner had a return on equity of 14.69% and a net margin of 3.94%. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.62 billion. During the same quarter last year, the company earned $1.26 EPS. BorgWarner’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities analysts expect that BorgWarner Inc. will post 3.91 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.11 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.26%. BorgWarner’s payout ratio is currently 16.48%.

Insider Activity at BorgWarner

In related news, VP Stefan Demmerle sold 3,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total value of $99,000.00. Following the transaction, the vice president now owns 249,013 shares of the company’s stock, valued at $8,217,429. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Stefan Demmerle sold 3,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total value of $99,000.00. Following the transaction, the vice president now owns 249,013 shares of the company’s stock, valued at $8,217,429. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frederic Lissalde sold 225,900 shares of the 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 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 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. 0.63% of the stock is owned by insiders.

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.