New York State Teachers Retirement System Has $6.28 Million Stake in BorgWarner Inc. (NYSE:BWA)

New York State Teachers Retirement System boosted its holdings in BorgWarner Inc. (NYSE:BWA - Free Report) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 219,180 shares of the auto parts company's stock after acquiring an additional 7,977 shares during the quarter. New York State Teachers Retirement System owned 0.10% of BorgWarner worth $6,280,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Amalgamated Bank increased its stake in BorgWarner by 57.5% in the first quarter. Amalgamated Bank now owns 66,088 shares of the auto parts company's stock valued at $1,893,000 after acquiring an additional 24,132 shares during the period. Highland Capital Management LLC grew its stake in BorgWarner by 24.4% during the first quarter. Highland Capital Management LLC now owns 8,614 shares of the auto parts company's stock worth $247,000 after buying an additional 1,687 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in BorgWarner by 35.0% during the first quarter. Illinois Municipal Retirement Fund now owns 113,641 shares of the auto parts company's stock worth $3,256,000 after buying an additional 29,471 shares during the last quarter. Old North State Wealth Management LLC grew its stake in BorgWarner by 5.4% during the first quarter. Old North State Wealth Management LLC now owns 87,132 shares of the auto parts company's stock worth $2,498,000 after buying an additional 4,490 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in BorgWarner by 19.6% during the first quarter. Robeco Institutional Asset Management B.V. now owns 988,324 shares of the auto parts company's stock worth $28,315,000 after buying an additional 162,176 shares during the last quarter. Institutional investors own 95.67% of the company's stock.

BorgWarner Trading Up 2.0%

NYSE BWA traded up $0.68 during trading hours on Tuesday, hitting $35.52. The company's stock had a trading volume of 506,603 shares, compared to its average volume of 2,709,456. The stock has a fifty day moving average of $32.64 and a 200 day moving average of $30.70. BorgWarner Inc. has a twelve month low of $24.40 and a twelve month high of $37.29. The firm has a market capitalization of $7.80 billion, a P/E ratio of 28.42, a PEG ratio of 1.55 and a beta of 1.09. The company has a quick ratio of 1.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.65.

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, beating the consensus estimate of $0.98 by $0.13. BorgWarner had a net margin of 2.06% and a return on equity of 16.13%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the business posted $1.03 earnings per share. BorgWarner's revenue was down 2.2% compared to the same quarter last year. Equities research analysts forecast that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.24%. BorgWarner's dividend payout ratio is currently 35.20%.

Insider Activity at BorgWarner

In other BorgWarner news, VP Isabelle Mckenzie sold 5,000 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $33.25, for a total value of $166,250.00. Following the sale, the vice president directly owned 63,445 shares in the company, valued at approximately $2,109,546.25. This trade represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Tonit M. Calaway sold 27,736 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $32.83, for a total transaction of $910,572.88. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BWA shares. Piper Sandler reaffirmed an "overweight" rating and set a $37.00 price objective (up from $36.00) on shares of BorgWarner in a research note on Thursday, May 22nd. The Goldman Sachs Group raised shares of BorgWarner from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $31.00 to $34.00 in a research note on Thursday, April 10th. Barclays decreased their price objective on shares of BorgWarner from $42.00 to $35.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Bank of America upped their price objective on shares of BorgWarner from $35.00 to $41.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Finally, BNP Paribas upgraded shares of BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 target price on the stock in a research report on Tuesday, March 18th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $37.53.

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.