Retirement Systems of Alabama Lowers Stock Position in BorgWarner Inc. (NYSE:BWA)

Retirement Systems of Alabama decreased its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 7.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 610,759 shares of the auto parts company’s stock after selling 52,657 shares during the period. Retirement Systems of Alabama’s holdings in BorgWarner were worth $22,164,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BWA. Matrix Trust Co acquired a new position in BorgWarner during the third quarter worth $25,000. Brooklyn Investment Group acquired a new position in shares of BorgWarner during the 3rd quarter worth $32,000. LRI Investments LLC increased its holdings in shares of BorgWarner by 2,685.3% in the 2nd quarter. LRI Investments LLC now owns 947 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 913 shares in the last quarter. Sentry Investment Management LLC acquired a new stake in shares of BorgWarner in the second quarter valued at about $32,000. Finally, True Wealth Design LLC purchased a new stake in BorgWarner during the third quarter worth about $38,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BorgWarner

In other BorgWarner news, EVP Paul Arthur Farrell sold 20,266 shares of BorgWarner stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.47, for a total value of $698,569.02. Following the transaction, the executive vice president now owns 32,366 shares in the company, valued at $1,115,656.02. This trade represents a 38.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Stefan Demmerle sold 21,500 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $34.79, for a total transaction of $747,985.00. Following the sale, the vice president now directly owns 227,513 shares of the company’s stock, valued at $7,915,177.27. This represents a 8.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 222,010 shares of company stock worth $7,678,076 in the last 90 days. 0.45% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. The Goldman Sachs Group dropped their target price 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. JPMorgan Chase & Co. reduced their price objective on BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Guggenheim reissued a “buy” rating and issued a $41.00 target price on shares of BorgWarner in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on BorgWarner from $38.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, Evercore ISI upgraded shares of BorgWarner from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $39.00 to $43.00 in a research report on Monday, October 14th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.20.

BorgWarner Stock Performance

Shares of BWA opened at $34.05 on Friday. BorgWarner Inc. has a 1 year low of $29.51 and a 1 year high of $38.22. The company’s 50 day simple moving average is $34.38 and its 200 day simple moving average is $33.66. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 8.64, a PEG ratio of 0.77 and a beta of 1.19. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.48 and a current ratio of 1.84.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.17. BorgWarner had a return on equity of 15.51% and a net margin of 6.33%. The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the firm posted $0.98 EPS. BorgWarner’s revenue was down 4.8% on a year-over-year basis. On average, sell-side analysts predict that BorgWarner Inc. will post 4.22 EPS for the current year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Monday, December 2nd. BorgWarner’s payout ratio is 11.17%.

BorgWarner Company 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.