California Public Employees Retirement System lessened its stake in shares of BorgWarner Inc. (NYSE:BWA – Get Rating) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 522,233 shares of the auto parts company’s stock after selling 17,504 shares during the period. California Public Employees Retirement System’s holdings in BorgWarner were worth $23,537,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. CWM LLC bought a new position in BorgWarner during the 4th quarter valued at approximately $26,000. IndexIQ Advisors LLC bought a new position in BorgWarner during the 4th quarter valued at approximately $34,000. MV Capital Management Inc. increased its position in BorgWarner by 1,962.0% during the 3rd quarter. MV Capital Management Inc. now owns 1,031 shares of the auto parts company’s stock valued at $45,000 after buying an additional 981 shares in the last quarter. Bedel Financial Consulting Inc. increased its position in BorgWarner by 104.1% during the 4th quarter. Bedel Financial Consulting Inc. now owns 1,233 shares of the auto parts company’s stock valued at $56,000 after buying an additional 629 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its stake in BorgWarner by 21.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,401 shares of the auto parts company’s stock valued at $63,000 after purchasing an additional 250 shares during the last quarter. 90.96% of the stock is owned by institutional investors.
In related news, EVP Felecia J. Pryor sold 6,590 shares of the stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $38.01, for a total transaction of $250,485.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.
BorgWarner (NYSE:BWA – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The auto parts company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.25. BorgWarner had a return on equity of 13.34% and a net margin of 4.57%. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. BorgWarner’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, sell-side analysts expect that BorgWarner Inc. will post 4.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, May 31st. This represents a $0.68 annualized dividend and a yield of 1.77%. BorgWarner’s payout ratio is presently 24.20%.
Several brokerages have commented on BWA. StockNews.com began coverage on BorgWarner in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley increased their target price on BorgWarner from $31.00 to $32.00 and gave the company an “underweight” rating in a research note on Monday, February 28th. Wells Fargo & Company dropped their price target on BorgWarner from $57.00 to $52.00 in a research note on Thursday, May 5th. Exane BNP Paribas started coverage on BorgWarner in a research note on Monday, April 11th. They issued a “neutral” rating on the stock. Finally, BNP Paribas assumed coverage on BorgWarner in a research note on Monday, April 11th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.70.
BorgWarner Company Profile (Get Rating)
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. The company operates through four segments: Air Management, E-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging.
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