BorgWarner Inc. (NYSE:BWA) Stock Position Lowered by State of Michigan Retirement System

State of Michigan Retirement System lessened its position in BorgWarner Inc. (NYSE:BWA) by 1.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 83,182 shares of the auto parts company’s stock after selling 1,400 shares during the quarter. State of Michigan Retirement System’s holdings in BorgWarner were worth $2,890,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BWA. Norges Bank purchased a new stake in shares of BorgWarner in the 4th quarter valued at approximately $75,489,000. Victory Capital Management Inc. increased its stake in BorgWarner by 10.9% in the 4th quarter. Victory Capital Management Inc. now owns 9,668,438 shares of the auto parts company’s stock valued at $346,614,000 after buying an additional 948,659 shares during the period. Ninety One UK Ltd increased its stake in BorgWarner by 85.1% in the 4th quarter. Ninety One UK Ltd now owns 1,656,221 shares of the auto parts company’s stock valued at $59,376,000 after buying an additional 761,250 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in BorgWarner by 43.5% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 2,213,630 shares of the auto parts company’s stock valued at $79,359,000 after buying an additional 670,720 shares during the period. Finally, American Century Companies Inc. increased its stake in BorgWarner by 18.3% in the 3rd quarter. American Century Companies Inc. now owns 4,189,541 shares of the auto parts company’s stock valued at $169,132,000 after buying an additional 648,633 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

BorgWarner Stock Performance

NYSE:BWA opened at $31.88 on Thursday. BorgWarner Inc. has a 1 year low of $29.51 and a 1 year high of $47.05. The firm’s fifty day simple moving average is $34.71 and its 200 day simple moving average is $33.78. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $7.26 billion, a PE ratio of 12.08, a PEG ratio of 0.78 and a beta of 1.22.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.16. BorgWarner had a net margin of 4.02% and a return on equity of 15.33%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the prior year, the firm earned $1.09 EPS. The business’s revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts anticipate that BorgWarner Inc. will post 4.05 EPS for the current year.

BorgWarner announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 2nd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the auto parts company to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

BorgWarner Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Monday, June 3rd. BorgWarner’s dividend payout ratio (DPR) is presently 16.67%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BWA. Barclays upped their price objective on shares of BorgWarner from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. TD Cowen upped their price objective on shares of BorgWarner from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Wells Fargo & Company dropped their price target on shares of BorgWarner from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 25th. StockNews.com upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Citigroup increased their price target on shares of BorgWarner from $33.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.71.

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.