BorgWarner Inc. (NYSE:BWA) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 7.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,450 shares of the auto parts company’s stock after selling 1,357 shares during the quarter. Kentucky Retirement Systems’ holdings in BorgWarner were worth $606,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Trillium Asset Management LLC grew its position in BorgWarner by 2.1% in the first quarter. Trillium Asset Management LLC now owns 13,788 shares of the auto parts company’s stock valued at $479,000 after acquiring an additional 283 shares in the last quarter. Empirical Finance LLC grew its position in BorgWarner by 3.5% in the first quarter. Empirical Finance LLC now owns 8,456 shares of the auto parts company’s stock valued at $294,000 after acquiring an additional 285 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in BorgWarner by 1.8% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,200 shares of the auto parts company’s stock valued at $667,000 after acquiring an additional 335 shares in the last quarter. Verdence Capital Advisors LLC grew its position in BorgWarner by 3.8% in the first quarter. Verdence Capital Advisors LLC now owns 9,459 shares of the auto parts company’s stock valued at $329,000 after acquiring an additional 343 shares in the last quarter. Finally, Independent Advisor Alliance grew its position in BorgWarner by 4.2% in the fourth quarter. Independent Advisor Alliance now owns 8,774 shares of the auto parts company’s stock valued at $315,000 after acquiring an additional 353 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

BorgWarner Stock Performance

BWA stock traded down $0.25 during mid-day trading on Monday, reaching $32.56. The company had a trading volume of 1,047,544 shares, compared to its average volume of 2,830,250. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $7.42 billion, a P/E ratio of 12.43, a P/E/G ratio of 0.76 and a beta of 1.22. BorgWarner Inc. has a one year low of $29.51 and a one year high of $46.75. The stock’s 50-day simple moving average is $33.59 and its two-hundred day simple moving average is $33.46.

BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.16. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.51 billion. BorgWarner had a return on equity of 15.33% and a net margin of 4.02%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business posted $1.09 earnings per share. Research analysts anticipate that BorgWarner Inc. will post 4.01 EPS for the current year.

BorgWarner Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Tuesday, September 3rd. BorgWarner’s payout ratio is 16.67%.

BorgWarner announced that its board has initiated a share repurchase plan on Thursday, May 2nd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have issued reports on BWA shares. Barclays increased their price objective on shares of BorgWarner from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Bank of America decreased their price target on shares of BorgWarner from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Citigroup decreased their price target on shares of BorgWarner from $41.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Robert W. Baird decreased their price target on shares of BorgWarner from $40.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Finally, TD Cowen raised their price target on shares of BorgWarner from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.29.

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.