California Public Employees Retirement System Sells 32,118 Shares of BorgWarner Inc. (NYSE:BWA)

California Public Employees Retirement System cut its stake in shares of BorgWarner Inc. (NYSE:BWA) by 6.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 435,988 shares of the auto parts company’s stock after selling 32,118 shares during the quarter. California Public Employees Retirement System’s holdings in BorgWarner were worth $13,860,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Truist Financial Corp grew its stake in shares of BorgWarner by 4.0% during the 4th quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company’s stock valued at $487,000 after acquiring an additional 595 shares during the period. State of Alaska Department of Revenue lifted its holdings in BorgWarner by 96.3% during the fourth quarter. State of Alaska Department of Revenue now owns 51,935 shares of the auto parts company’s stock valued at $1,650,000 after purchasing an additional 25,475 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of BorgWarner in the fourth quarter worth approximately $1,197,000. Wellington Management Group LLP increased its stake in shares of BorgWarner by 1.4% in the third quarter. Wellington Management Group LLP now owns 27,629 shares of the auto parts company’s stock worth $1,003,000 after purchasing an additional 394 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new stake in shares of BorgWarner during the 4th quarter valued at $5,077,000. Institutional investors own 95.67% of the company’s stock.

BorgWarner Trading Down 4.7 %

Shares of NYSE BWA opened at $25.92 on Friday. The stock has a market capitalization of $5.69 billion, a P/E ratio of 18.13, a PEG ratio of 0.77 and a beta of 1.21. BorgWarner Inc. has a 1-year low of $24.66 and a 1-year high of $38.23. The business’s 50 day moving average is $29.63 and its two-hundred day moving average is $32.27. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45.

BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.08. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. As a group, research analysts expect that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.11 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.70%. BorgWarner’s dividend payout ratio is presently 30.77%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Piper Sandler dropped their target price on shares of BorgWarner from $43.00 to $36.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Evercore ISI dropped their price objective on BorgWarner from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Wells Fargo & Company lifted their target price on BorgWarner from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Morgan Stanley lowered their price target on BorgWarner from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Finally, TD Cowen lowered shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a report on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.06.

Insider Activity at BorgWarner

In related news, EVP Tania Wingfield sold 24,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total transaction of $690,960.00. Following the completion of the sale, the executive vice president now directly owns 39,110 shares of the company’s stock, valued at approximately $1,125,976.90. This trade represents a 38.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Tonit M. Calaway sold 13,500 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $30.16, for a total value of $407,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 259,310 shares in the company, valued at $7,820,789.60. This trade represents a 4.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,800 shares of company stock worth $1,347,701. Insiders own 0.45% of the company’s stock.

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.