New York State Common Retirement Fund Reduces Position in BorgWarner Inc. (NYSE:BWA)

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New York State Common Retirement Fund decreased its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 4.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 303,960 shares of the auto parts company’s stock after selling 14,865 shares during the quarter. New York State Common Retirement Fund owned about 0.13% of BorgWarner worth $13,134,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. First Trust Advisors LP boosted its holdings in shares of BorgWarner by 23.9% during the second quarter. First Trust Advisors LP now owns 1,891,983 shares of the auto parts company’s stock worth $91,837,000 after purchasing an additional 365,102 shares during the last quarter. Contravisory Investment Management Inc. boosted its holdings in shares of BorgWarner by 1,086.7% during the third quarter. Contravisory Investment Management Inc. now owns 118,665 shares of the auto parts company’s stock worth $5,128,000 after purchasing an additional 108,665 shares during the last quarter. Osborne Partners Capital Management LLC boosted its holdings in shares of BorgWarner by 8.7% during the third quarter. Osborne Partners Capital Management LLC now owns 173,276 shares of the auto parts company’s stock worth $7,487,000 after purchasing an additional 13,808 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of BorgWarner by 72.1% during the second quarter. Goldman Sachs Group Inc. now owns 608,502 shares of the auto parts company’s stock worth $29,536,000 after purchasing an additional 254,903 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings in BorgWarner by 1.0% in the second quarter. Mutual of America Capital Management LLC now owns 31,353 shares of the auto parts company’s stock valued at $1,522,000 after acquiring an additional 296 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Shares of NYSE BWA opened at $45.07 on Friday. BorgWarner Inc. has a 1 year low of $37.76 and a 1 year high of $55.55. The firm has a market cap of $10.81 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.40 and a beta of 1.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.78. The stock’s 50-day simple moving average is $45.51 and its 200-day simple moving average is $45.66.

BorgWarner (NYSE:BWA) last announced its earnings results on Tuesday, November 2nd. The auto parts company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.08. BorgWarner had a return on equity of 14.85% and a net margin of 5.07%. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the previous year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was up 34.8% compared to the same quarter last year. As a group, research analysts predict that BorgWarner Inc. will post 3.8 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Tuesday, November 30th. BorgWarner’s payout ratio is 21.12%.

A number of research analysts recently weighed in on the company. The Goldman Sachs Group reduced their target price on BorgWarner from $48.00 to $47.00 and set a “neutral” rating on the stock in a report on Sunday, September 26th. Barclays lifted their target price on BorgWarner from $48.00 to $49.00 and gave the company an “equal weight” rating in a report on Thursday, December 16th. Jefferies Financial Group cut BorgWarner from a “buy” rating to a “hold” rating and reduced their target price for the company from $65.00 to $47.00 in a report on Monday, September 20th. Royal Bank of Canada reduced their target price on BorgWarner from $48.00 to $47.00 and set a “sector perform” rating on the stock in a report on Thursday, November 4th. Finally, Wells Fargo & Company reduced their target price on BorgWarner from $65.00 to $61.00 and set an “overweight” rating on the stock in a report on Tuesday, October 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, BorgWarner has a consensus rating of “Hold” and an average price target of $50.00.

In related news, VP Stefan Demmerle sold 6,000 shares of the business’s stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $46.95, for a total value of $281,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.36% of the stock is currently owned by insiders.

BorgWarner Profile

BorgWarner, Inc engages in the provision of technology solutions for combustion, hybrid and electric vehicles. It operates through the following segments: Air Management, e-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment develops and manufactures products to improve fuel economy, reduce emissions and enhance performance.

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