State of Alaska Department of Revenue Has $4.24 Million Position in BorgWarner Inc. (NYSE:BWA)

State of Alaska Department of Revenue increased its holdings in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 185.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,170 shares of the auto parts company's stock after buying an additional 96,235 shares during the period. State of Alaska Department of Revenue owned 0.07% of BorgWarner worth $4,244,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp lifted its stake in BorgWarner by 6.8% in the fourth quarter. Van ECK Associates Corp now owns 80,058 shares of the auto parts company's stock valued at $2,545,000 after buying an additional 5,126 shares during the period. Asset Management One Co. Ltd. grew its holdings in BorgWarner by 19.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 5,211 shares of the auto parts company's stock valued at $168,000 after purchasing an additional 863 shares during the period. Principal Securities Inc. increased its stake in BorgWarner by 59.1% in the fourth quarter. Principal Securities Inc. now owns 1,939 shares of the auto parts company's stock valued at $62,000 after purchasing an additional 720 shares in the last quarter. Truist Financial Corp raised its holdings in BorgWarner by 4.0% in the fourth quarter. Truist Financial Corp now owns 15,319 shares of the auto parts company's stock worth $487,000 after purchasing an additional 595 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in shares of BorgWarner by 676.0% during the fourth quarter. Venturi Wealth Management LLC now owns 5,215 shares of the auto parts company's stock worth $166,000 after purchasing an additional 4,543 shares in the last quarter. 95.67% of the stock is owned by institutional investors.

BorgWarner Stock Up 2.1%

BorgWarner stock traded up $0.68 during mid-day trading on Tuesday, reaching $33.43. The company's stock had a trading volume of 3,864,600 shares, compared to its average volume of 2,736,129. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.60 and a current ratio of 1.97. BorgWarner Inc. has a 12 month low of $24.40 and a 12 month high of $37.29. The business's 50 day simple moving average is $31.19 and its 200 day simple moving average is $30.65. The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.10.

BorgWarner (NYSE:BWA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The auto parts company reported $1.11 EPS 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 the consensus estimate of $3.39 billion. BorgWarner had a net margin of 2.06% and a return on equity of 16.13%. The company's quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 EPS. As a group, research analysts anticipate 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 1.32%. BorgWarner's dividend payout ratio (DPR) is 35.20%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Cowen cut shares of BorgWarner from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Guggenheim lowered their price target on BorgWarner from $38.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. BNP Paribas upgraded BorgWarner from a "neutral" rating to an "outperform" rating and set a $36.00 price objective on the stock in a report on Tuesday, March 18th. TD Cowen cut BorgWarner from a "buy" rating to a "hold" rating and set a $31.00 target price for the company. in a research note on Friday, March 7th. Finally, Morgan Stanley cut their price objective on shares of BorgWarner from $45.00 to $40.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. 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 a consensus target price of $37.47.

Insider Transactions at BorgWarner

In other BorgWarner news, EVP Tonit M. Calaway sold 27,736 shares of the business'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 transaction of $910,572.88. Following the transaction, the executive vice president now owns 214,521 shares of the company's stock, valued at $7,042,724.43. The trade was a 11.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Isabelle Mckenzie sold 5,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the vice president now owns 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 0.63% of the company's stock.

BorgWarner 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.