BorgWarner Inc. (NYSE:BWA) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama increased its position in BorgWarner Inc. (NYSE:BWA - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 701,618 shares of the auto parts company's stock after acquiring an additional 109,468 shares during the period. Retirement Systems of Alabama owned about 0.30% of BorgWarner worth $25,153,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. NewEdge Wealth LLC raised its stake in BorgWarner by 5.8% during the 3rd quarter. NewEdge Wealth LLC now owns 6,206 shares of the auto parts company's stock valued at $251,000 after buying an additional 339 shares during the last quarter. Bank of Nova Scotia grew its position in shares of BorgWarner by 1.8% during the 3rd quarter. Bank of Nova Scotia now owns 21,842 shares of the auto parts company's stock valued at $882,000 after acquiring an additional 389 shares during the period. Miracle Mile Advisors LLC grew its position in shares of BorgWarner by 4.3% during the 3rd quarter. Miracle Mile Advisors LLC now owns 9,391 shares of the auto parts company's stock valued at $379,000 after acquiring an additional 390 shares during the period. Raymond James Trust N.A. grew its position in shares of BorgWarner by 4.1% during the 4th quarter. Raymond James Trust N.A. now owns 10,137 shares of the auto parts company's stock valued at $363,000 after acquiring an additional 401 shares during the period. Finally, RNC Capital Management LLC grew its position in shares of BorgWarner by 0.8% during the 3rd quarter. RNC Capital Management LLC now owns 56,650 shares of the auto parts company's stock valued at $2,287,000 after acquiring an additional 457 shares during the period. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

BorgWarner Trading Down 2.8 %

Shares of BorgWarner stock traded down $0.94 on Tuesday, hitting $32.79. 2,912,326 shares of the company traded hands, compared to its average volume of 2,840,209. The stock's 50 day moving average price is $32.77 and its 200-day moving average price is $33.82. The company has a current ratio of 1.65, a quick ratio of 1.30 and a debt-to-equity ratio of 0.61. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $50.04. The company has a market cap of $7.53 billion, a PE ratio of 12.46, a PEG ratio of 0.99 and a beta of 1.30.

BorgWarner (NYSE:BWA - Get Free Report) last posted its quarterly earnings results 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). BorgWarner had a net margin of 3.94% and a return on equity of 14.69%. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same period in the prior year, the firm posted $1.26 EPS. The business's revenue was up 6.2% on a year-over-year basis. Equities research analysts predict that BorgWarner Inc. will post 3.9 EPS for the current year.

BorgWarner Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Monday, June 3rd. BorgWarner's payout ratio is 16.48%.

Insider Activity at BorgWarner

In related news, CAO Tonit M. Calaway sold 35,603 shares of BorgWarner stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $32.15, for a total transaction 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 filing with the SEC, which is accessible through this link. In other BorgWarner news, CEO Frederic Lissalde sold 225,900 shares of BorgWarner stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $31.08, for a total value of $7,020,972.00. Following the transaction, the chief executive officer now directly owns 455,227 shares of the company's stock, valued at $14,148,455.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Tonit M. Calaway sold 35,603 shares of BorgWarner stock in a transaction on Monday, February 12th. The stock was sold at an average price of $32.15, for a total transaction of $1,144,636.45. Following the completion of the transaction, the chief accounting officer now directly owns 83,348 shares in the company, valued at $2,679,638.20. The disclosure for this sale can be found here. Insiders have sold a total of 287,503 shares of company stock valued at $9,015,478 over the last ninety days. 0.63% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of BorgWarner from $59.00 to $52.00 and set an "overweight" rating for the company in a research report on Thursday, January 25th. BNP Paribas downgraded shares of BorgWarner from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $43.00 to $35.00 in a research report on Tuesday, February 20th. Piper Sandler assumed coverage on shares of BorgWarner in a research report on Friday, March 15th. They set an "overweight" rating and a $43.00 price objective for the company. Robert W. Baird lowered BorgWarner from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $45.00 to $39.00 in a research note on Wednesday, January 3rd. Finally, Barclays increased their price target on BorgWarner from $40.00 to $44.00 and gave the stock an "overweight" rating in a research note on Thursday, April 11th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.30.

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.