Retirement Systems of Alabama increased its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,235 shares of the auto parts company’s stock after buying an additional 3,527 shares during the quarter. Retirement Systems of Alabama’s holdings in BorgWarner were worth $4,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the stock. Robeco Institutional Asset Management B.V. grew its stake in BorgWarner by 0.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 214,649 shares of the auto parts company’s stock worth $9,263,000 after buying an additional 1,201 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in BorgWarner by 0.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 323,031 shares of the auto parts company’s stock worth $13,942,000 after buying an additional 1,218 shares during the last quarter. BB&T Securities LLC grew its stake in BorgWarner by 33.2% during the 2nd quarter. BB&T Securities LLC now owns 5,681 shares of the auto parts company’s stock worth $245,000 after buying an additional 1,415 shares during the last quarter. Providence Capital Advisors LLC grew its stake in BorgWarner by 6.6% during the 2nd quarter. Providence Capital Advisors LLC now owns 23,190 shares of the auto parts company’s stock worth $1,001,000 after buying an additional 1,433 shares during the last quarter. Finally, WESCAP Management Group Inc. grew its stake in BorgWarner by 4.4% during the 2nd quarter. WESCAP Management Group Inc. now owns 34,952 shares of the auto parts company’s stock worth $1,508,000 after buying an additional 1,475 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.
Several research analysts recently weighed in on the company. Wells Fargo & Co upgraded BorgWarner from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $57.00 to $56.00 in a research note on Wednesday, July 18th. Citigroup dropped their target price on BorgWarner from $59.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, July 30th. Wolfe Research assumed coverage on BorgWarner in a research note on Tuesday, October 2nd. They set an “outperform” rating on the stock. Bank of America upgraded BorgWarner from an “underperform” rating to a “neutral” rating and set a $45.00 target price on the stock in a research note on Tuesday, October 23rd. Finally, BMO Capital Markets set a $60.00 price target on BorgWarner and gave the stock a “buy” rating in a research report on Thursday, September 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $54.38.
Shares of BWA opened at $39.98 on Wednesday. BorgWarner Inc. has a one year low of $35.71 and a one year high of $58.22. The company has a quick ratio of 1.28, a current ratio of 1.66 and a debt-to-equity ratio of 0.50. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 1.37 and a beta of 1.81.
BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, October 25th. The auto parts company reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.01. BorgWarner had a return on equity of 22.68% and a net margin of 5.26%. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.45 billion. As a group, equities research analysts expect that BorgWarner Inc. will post 4.37 earnings per share for the current year.
In other BorgWarner news, insider Brady D. Ericson sold 16,780 shares of BorgWarner stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $39.70, for a total transaction of $666,166.00. Following the completion of the sale, the insider now owns 18,089 shares of the company’s stock, valued at approximately $718,133.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Joel Wiegert sold 4,000 shares of the business’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $39.57, for a total value of $158,280.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,472 shares of company stock valued at $1,126,972. 0.74% of the stock is currently owned by insiders.
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BorgWarner Company Profile
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates through two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; and timing systems, such as timing chains, variable cam timing products, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains for light vehicles, and hybrid power transmission chains.
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