Teachers Retirement System of The State of Kentucky Acquires 47,120 Shares of BorgWarner Inc. (NYSE:BWA)

Teachers Retirement System of The State of Kentucky lifted its stake in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 7.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 716,269 shares of the auto parts company's stock after purchasing an additional 47,120 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.33% of BorgWarner worth $20,520,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in BorgWarner during the fourth quarter valued at approximately $62,180,000. Bank of America Corp DE raised its holdings in shares of BorgWarner by 91.9% in the 4th quarter. Bank of America Corp DE now owns 3,878,932 shares of the auto parts company's stock valued at $123,311,000 after purchasing an additional 1,857,907 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in BorgWarner by 8,137.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,299,057 shares of the auto parts company's stock valued at $41,297,000 after acquiring an additional 1,283,287 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of BorgWarner by 338.5% in the first quarter. Principal Financial Group Inc. now owns 1,085,149 shares of the auto parts company's stock worth $31,090,000 after buying an additional 837,668 shares during the last quarter. Finally, LSV Asset Management raised its holdings in shares of BorgWarner by 22.5% during the fourth quarter. LSV Asset Management now owns 4,308,145 shares of the auto parts company's stock worth $136,956,000 after purchasing an additional 792,100 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company's stock.

BorgWarner Stock Performance

BWA stock traded up $0.01 during midday trading on Tuesday, hitting $35.39. 1,672,135 shares of the company traded hands, compared to its average volume of 2,684,303. BorgWarner Inc. has a twelve month low of $24.40 and a twelve month high of $37.29. The company has a quick ratio of 1.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The business has a 50 day simple moving average of $33.67 and a 200-day simple moving average of $30.92.

BorgWarner (NYSE:BWA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.13. BorgWarner had a return on equity of 16.13% and a net margin of 2.06%. The company had revenue of $3.52 billion during the quarter, compared to analysts' expectations of $3.39 billion. During the same period last year, the business earned $1.03 earnings per share. The business's revenue was down 2.2% on a year-over-year basis. As a group, equities research analysts predict that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.24%. BorgWarner's dividend payout ratio (DPR) is 35.20%.

Insider Activity at BorgWarner

In other news, VP Isabelle Mckenzie sold 5,000 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $33.25, for a total value of $166,250.00. Following the completion of the sale, the vice president owned 63,445 shares of the company's stock, valued at approximately $2,109,546.25. This represents a 7.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Tonit M. Calaway sold 27,736 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $32.83, for a total value of $910,572.88. Following the sale, the executive vice president directly owned 214,521 shares of the company's stock, valued at $7,042,724.43. This represents a 11.45% decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BWA. Barclays reiterated an "overweight" rating and issued a $45.00 target price (up previously from $42.00) on shares of BorgWarner in a research report on Wednesday, July 16th. Wells Fargo & Company boosted their target price on shares of BorgWarner from $44.00 to $45.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Piper Sandler reiterated an "overweight" rating and issued a $37.00 target price (up from $36.00) on shares of BorgWarner in a report on Thursday, May 22nd. Wall Street Zen raised shares of BorgWarner from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 12th. Finally, Robert W. Baird upped their target price on shares of BorgWarner from $32.00 to $39.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, BorgWarner has a consensus rating of "Moderate Buy" and an average price target of $39.07.

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.