New York State Common Retirement Fund Grows Stock Holdings in BorgWarner Inc. (NYSE:BWA)

New York State Common Retirement Fund increased its position in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 12.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 461,831 shares of the auto parts company's stock after purchasing an additional 52,612 shares during the period. New York State Common Retirement Fund owned about 0.21% of BorgWarner worth $13,231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of BWA. Proficio Capital Partners LLC acquired a new stake in BorgWarner in the 4th quarter valued at $1,197,000. Raymond James Financial Inc. acquired a new position in BorgWarner in the fourth quarter worth $3,860,000. Swiss National Bank boosted its stake in BorgWarner by 0.7% in the fourth quarter. Swiss National Bank now owns 447,984 shares of the auto parts company's stock worth $14,241,000 after purchasing an additional 3,200 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in BorgWarner by 79.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 17,487 shares of the auto parts company's stock worth $556,000 after purchasing an additional 7,722 shares in the last quarter. Finally, Cibc World Markets Corp boosted its stake in BorgWarner by 39.8% in the fourth quarter. Cibc World Markets Corp now owns 24,635 shares of the auto parts company's stock worth $783,000 after purchasing an additional 7,014 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BorgWarner

In other news, EVP Tonit M. Calaway sold 27,736 shares of BorgWarner stock in a transaction 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 transaction, the executive vice president owned 214,521 shares in the company, valued at approximately $7,042,724.43. This trade represents a 11.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Isabelle Mckenzie sold 5,000 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $33.25, for a total value of $166,250.00. Following the sale, the vice president owned 63,445 shares in the company, valued at $2,109,546.25. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.45% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on BWA shares. Wall Street Zen raised BorgWarner from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 12th. Piper Sandler restated an "overweight" rating and set a $37.00 target price (up previously from $36.00) on shares of BorgWarner in a research report on Thursday, May 22nd. UBS Group boosted their target price on BorgWarner from $35.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Barclays restated an "overweight" rating and set a $45.00 target price (up previously from $42.00) on shares of BorgWarner in a research report on Wednesday. Finally, Wells Fargo & Company boosted their target price on BorgWarner from $44.00 to $45.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, BorgWarner presently has an average rating of "Moderate Buy" and a consensus target price of $39.07.

BorgWarner Stock Performance

Shares of BWA traded down $0.48 during mid-day trading on Friday, reaching $34.99. The company's stock had a trading volume of 1,613,942 shares, compared to its average volume of 2,693,607. BorgWarner Inc. has a 1-year low of $24.40 and a 1-year high of $37.29. The stock has a market cap of $7.69 billion, a P/E ratio of 27.99, a PEG ratio of 1.54 and a beta of 1.09. The business has a 50-day simple moving average of $33.67 and a two-hundred day simple moving average of $30.92. The company has a current ratio of 1.97, a quick ratio of 1.60 and a debt-to-equity ratio of 0.65.

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

BorgWarner Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.26%. BorgWarner's dividend payout ratio is presently 35.20%.

About BorgWarner

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.