BorgWarner Inc. (NYSE:BWA) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its stake in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 35.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,641 shares of the auto parts company's stock after acquiring an additional 29,471 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.05% of BorgWarner worth $3,256,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of BWA. Dimensional Fund Advisors LP lifted its stake in BorgWarner by 7.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,284,040 shares of the auto parts company's stock valued at $358,720,000 after buying an additional 753,344 shares in the last quarter. Invesco Ltd. increased its holdings in shares of BorgWarner by 10.2% in the 4th quarter. Invesco Ltd. now owns 6,795,020 shares of the auto parts company's stock valued at $216,014,000 after acquiring an additional 628,930 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of BorgWarner by 6.8% in the 4th quarter. Alliancebernstein L.P. now owns 5,981,196 shares of the auto parts company's stock valued at $190,142,000 after buying an additional 381,504 shares during the period. LSV Asset Management lifted its holdings in shares of BorgWarner by 22.5% in the 4th 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. Finally, Turtle Creek Asset Management Inc. grew its position in shares of BorgWarner by 7.0% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 4,078,780 shares of the auto parts company's stock worth $129,664,000 after acquiring an additional 267,250 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BWA shares. Piper Sandler reiterated an "overweight" rating and issued a $37.00 price target (up from $36.00) on shares of BorgWarner in a research report on Thursday, May 22nd. Wells Fargo & Company increased their price target on shares of BorgWarner from $44.00 to $45.00 and gave the stock an "overweight" rating in a research report on Tuesday. UBS Group upped their target price on BorgWarner from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Robert W. Baird increased their target price on shares of BorgWarner from $29.00 to $32.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded BorgWarner from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.53.

BorgWarner Trading Up 1.6%

BWA traded up $0.54 during midday trading on Wednesday, reaching $35.34. 1,519,283 shares of the company's stock traded hands, compared to its average volume of 2,718,914. BorgWarner Inc. has a 52 week low of $24.40 and a 52 week high of $37.29. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.97 and a quick ratio of 1.60. The firm has a fifty day moving average of $32.07 and a two-hundred day moving average of $30.63. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 28.27, a P/E/G ratio of 1.47 and a beta of 1.09.

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

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.24%. BorgWarner's payout ratio is 35.20%.

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.