BorgWarner Inc. (BWA) Stake Reduced by Texas Permanent School Fund

Texas Permanent School Fund lowered its position in BorgWarner Inc. (NYSE:BWA) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,051 shares of the auto parts company’s stock after selling 2,366 shares during the period. Texas Permanent School Fund’s holdings in BorgWarner were worth $2,374,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank increased its position in shares of BorgWarner by 55.5% in the first quarter. Toronto Dominion Bank now owns 54,501 shares of the auto parts company’s stock worth $2,277,000 after buying an additional 19,447 shares during the last quarter. Scopus Asset Management L.P. purchased a new position in shares of BorgWarner during the first quarter worth $4,179,000. Black Creek Investment Management Inc. increased its position in shares of BorgWarner by 20.5% in the first quarter. Black Creek Investment Management Inc. now owns 2,010,675 shares of the auto parts company’s stock worth $84,026,000 after buying an additional 342,700 shares during the last quarter. Strs Ohio increased its position in shares of BorgWarner by 4.2% in the first quarter. Strs Ohio now owns 15,798 shares of the auto parts company’s stock worth $660,000 after buying an additional 631 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. increased its position in shares of BorgWarner by 20.9% in the first quarter. NN Investment Partners Holdings N.V. now owns 22,969 shares of the auto parts company’s stock worth $960,000 after buying an additional 3,969 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

BorgWarner Inc. (NYSE BWA) opened at 46.53 on Thursday. BorgWarner Inc. has a 52-week low of $33.09 and a 52-week high of $48.03. The firm’s 50-day moving average is $44.71 and its 200-day moving average is $42.24. The company has a market capitalization of $9.82 billion, a PE ratio of 51.87 and a beta of 1.73.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.07. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.27 billion. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 EPS. On average, equities research analysts forecast that BorgWarner Inc. will post $3.70 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.14 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.20%. BorgWarner’s payout ratio is 62.92%.

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A number of equities analysts recently weighed in on BWA shares. Zacks Investment Research upgraded shares of BorgWarner from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Wednesday, April 12th. Deutsche Bank AG boosted their target price on shares of BorgWarner from $51.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Bank of America Corporation restated an “underperform” rating and set a $27.00 target price (down from $30.00) on shares of BorgWarner in a report on Friday, June 16th. BMO Capital Markets restated an “outperform” rating and set a $55.00 target price (up from $50.00) on shares of BorgWarner in a report on Friday, July 28th. Finally, Morgan Stanley lowered their target price on shares of BorgWarner from $34.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, June 9th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. BorgWarner presently has an average rating of “Hold” and an average target price of $42.67.

In other news, Director Dennis C. Cuneo sold 1,000 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $44.06, for a total transaction of $44,060.00. Following the completion of the transaction, the director now owns 13,398 shares in the company, valued at approximately $590,315.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

About BorgWarner

BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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