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

Illinois Municipal Retirement Fund boosted its position in BorgWarner Inc. (NYSE:BWA) by 84.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,556 shares of the auto parts company’s stock after buying 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 SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI boosted its position in shares of BorgWarner by 24.5% during the 3rd quarter. National Bank of Canada FI now owns 53,328 shares of the auto parts company’s stock worth $2,125,000 after purchasing an additional 10,507 shares in the last quarter. CWM LLC grew its holdings in BorgWarner by 15.1% in the 3rd quarter. CWM LLC now owns 7,880 shares of the auto parts company’s stock valued at $318,000 after buying an additional 1,033 shares during the period. Arkadios Wealth Advisors grew its holdings in BorgWarner by 21.8% in the 3rd quarter. Arkadios Wealth Advisors now owns 5,362 shares of the auto parts company’s stock valued at $216,000 after buying an additional 961 shares during the period. Global Retirement Partners LLC grew its holdings in BorgWarner by 14.4% in the 3rd quarter. Global Retirement Partners LLC now owns 2,800 shares of the auto parts company’s stock valued at $110,000 after buying an additional 353 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in BorgWarner by 919.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 17,677 shares of the auto parts company’s stock valued at $714,000 after buying an additional 15,943 shares during the period. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

BorgWarner Stock Performance

Shares of NYSE BWA opened at $33.34 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.30 and a current ratio of 1.65. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 0.99 and a beta of 1.31. The business’s 50-day simple moving average is $32.58 and its 200-day simple moving average is $34.00. BorgWarner Inc. has a 52 week low of $29.51 and a 52 week high of $50.04.

BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, February 8th. The auto parts company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.03). The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.62 billion. BorgWarner had a net margin of 3.94% and a return on equity of 14.69%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 EPS. As a group, equities research analysts expect that BorgWarner Inc. will post 3.9 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Thursday, February 29th. BorgWarner’s dividend payout ratio (DPR) is currently 16.48%.

Analyst Ratings Changes

Several research firms recently issued reports on BWA. Piper Sandler began coverage on BorgWarner in a research report on Friday, March 15th. They set an “overweight” rating and a $43.00 price target on the stock. StockNews.com cut BorgWarner from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Barclays raised their target price on BorgWarner from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. decreased their target price on BorgWarner from $59.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Finally, TheStreet cut BorgWarner from a “b-” rating to a “c+” rating in a research note on Thursday, February 8th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.30.

Insider Buying and Selling at BorgWarner

In other BorgWarner news, VP Stefan Demmerle sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total value of $99,000.00. Following the sale, the vice president now owns 249,013 shares of the company’s stock, valued at approximately $8,217,429. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Volker Weng sold 20,000 shares of BorgWarner stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $32.85, for a total transaction of $657,000.00. Following the sale, the vice president now owns 111,964 shares of the company’s stock, valued at approximately $3,678,017.40. 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 BorgWarner stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $33.00, for a total value of $99,000.00. Following the sale, the vice president now directly owns 249,013 shares in the company, valued at approximately $8,217,429. The disclosure for this sale can be found here. Insiders have sold 287,503 shares of company stock valued at $9,015,478 in the last 90 days. 0.63% of the stock is currently owned by insiders.

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.