Illinois Municipal Retirement Fund Raises Stock Holdings in BorgWarner Inc. (NYSE:BWA)

Illinois Municipal Retirement Fund raised its position in BorgWarner Inc. (NYSE:BWA - Free Report) by 84.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 260,556 shares of the auto parts company's stock after purchasing an additional 119,170 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.11% of BorgWarner worth $9,341,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Wedge Capital Management L L P NC increased its stake in BorgWarner by 13.0% in the fourth quarter. Wedge Capital Management L L P NC now owns 348,994 shares of the auto parts company's stock valued at $12,511,000 after purchasing an additional 40,024 shares in the last quarter. Telemus Capital LLC increased its stake in BorgWarner by 3.2% in the fourth quarter. Telemus Capital LLC now owns 122,134 shares of the auto parts company's stock valued at $4,379,000 after purchasing an additional 3,840 shares in the last quarter. Verdence Capital Advisors LLC bought a new stake in BorgWarner in the fourth quarter valued at approximately $327,000. abrdn plc increased its stake in BorgWarner by 68.5% in the fourth quarter. abrdn plc now owns 101,523 shares of the auto parts company's stock valued at $3,640,000 after purchasing an additional 41,283 shares in the last quarter. Finally, Ninety One UK Ltd increased its stake in BorgWarner by 85.1% in the fourth quarter. Ninety One UK Ltd now owns 1,656,221 shares of the auto parts company's stock valued at $59,376,000 after purchasing an additional 761,250 shares in the last quarter. Institutional investors own 95.67% of the company's stock.

Insider Activity

In other news, CAO Tonit M. Calaway sold 35,603 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $32.15, for a total value of $1,144,636.45. Following the transaction, the chief accounting officer now directly owns 83,348 shares of the company's stock, valued at $2,679,638.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Tonit M. Calaway sold 35,603 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $32.15, for a total value of $1,144,636.45. Following the transaction, the chief accounting officer now directly owns 83,348 shares of the company's stock, valued at $2,679,638.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stefan Demmerle sold 3,000 shares of the firm's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $31.29, for a total transaction of $93,870.00. Following the transaction, the vice president now directly owns 252,013 shares in the company, valued at $7,885,486.77. The disclosure for this sale can be found here. Insiders have sold 287,503 shares of company stock valued at $9,015,478 over the last ninety days. 0.63% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BWA has been the subject of several research analyst reports. The Goldman Sachs Group reduced their price target on shares of BorgWarner from $38.00 to $34.00 and set a "neutral" rating for the company in a report on Friday, February 9th. TheStreet cut shares of BorgWarner from a "b-" rating to a "c+" rating in a report on Thursday, February 8th. Piper Sandler initiated coverage on shares of BorgWarner in a report on Friday, March 15th. They issued an "overweight" rating and a $43.00 price target for the company. Barclays upped their price target on shares of BorgWarner from $40.00 to $44.00 and gave the company an "overweight" rating in a report on Thursday, April 11th. Finally, Robert W. Baird cut shares of BorgWarner from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $45.00 to $39.00 in a report on Wednesday, January 3rd. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, BorgWarner presently has an average rating of "Moderate Buy" and an average target price of $44.30.

BorgWarner Stock Performance

BWA stock traded up $0.31 during trading hours on Wednesday, reaching $33.65. The stock had a trading volume of 1,975,331 shares, compared to its average volume of 2,861,927. The stock has a market capitalization of $7.73 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.99 and a beta of 1.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.65 and a quick ratio of 1.30. The stock has a 50-day simple moving average of $32.58 and a 200 day simple moving average of $34.00. BorgWarner Inc. has a fifty-two week low of $29.51 and a fifty-two week high of $50.04.

BorgWarner (NYSE:BWA - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The auto parts company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.03). The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.62 billion. BorgWarner had a net margin of 3.94% and a return on equity of 14.69%. BorgWarner's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 earnings per share. Analysts predict that BorgWarner Inc. will post 3.9 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Thursday, February 29th. BorgWarner's payout ratio is presently 16.48%.

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.