California Public Employees Retirement System Sells 17,504 Shares of BorgWarner Inc. (NYSE:BWA)

California Public Employees Retirement System reduced its holdings in BorgWarner Inc. (NYSE:BWAGet Rating) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 522,233 shares of the auto parts company’s stock after selling 17,504 shares during the quarter. California Public Employees Retirement System owned about 0.22% of BorgWarner worth $23,537,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BWA. CWM LLC acquired a new stake in BorgWarner in the fourth quarter valued at approximately $26,000. MFA Wealth Advisors LLC acquired a new stake in BorgWarner in the third quarter valued at approximately $31,000. IndexIQ Advisors LLC purchased a new position in shares of BorgWarner during the fourth quarter valued at approximately $34,000. MV Capital Management Inc. boosted its position in shares of BorgWarner by 1,962.0% during the third quarter. MV Capital Management Inc. now owns 1,031 shares of the auto parts company’s stock valued at $45,000 after buying an additional 981 shares during the last quarter. Finally, Bedel Financial Consulting Inc. boosted its position in shares of BorgWarner by 104.1% during the fourth quarter. Bedel Financial Consulting Inc. now owns 1,233 shares of the auto parts company’s stock valued at $56,000 after buying an additional 629 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

In other BorgWarner news, EVP Felecia J. Pryor sold 6,590 shares of the company’s stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $38.01, for a total value of $250,485.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.54% of the stock is owned by corporate insiders.

NYSE:BWA opened at $38.40 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.29 and a current ratio of 1.72. BorgWarner Inc. has a 52-week low of $34.85 and a 52-week high of $55.55. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 0.30 and a beta of 1.35. The business’s fifty day moving average is $37.65 and its 200 day moving average is $42.43.

BorgWarner (NYSE:BWAGet Rating) last announced its earnings results on Wednesday, May 4th. The auto parts company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.25. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.71 billion. BorgWarner had a return on equity of 13.34% and a net margin of 4.57%. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 EPS. Equities analysts predict that BorgWarner Inc. will post 4.07 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $0.68 dividend on an annualized basis and a yield of 1.77%. BorgWarner’s dividend payout ratio is currently 24.20%.

Several research analysts recently issued reports on the company. Barclays cut their target price on BorgWarner from $49.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 7th. Wells Fargo & Company cut their price objective on BorgWarner from $57.00 to $52.00 in a research report on Thursday, May 5th. Citigroup cut their price objective on BorgWarner from $52.00 to $43.00 in a research report on Tuesday, April 5th. Morgan Stanley boosted their price objective on BorgWarner from $31.00 to $32.00 and gave the stock an “underweight” rating in a research report on Monday, February 28th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on BorgWarner from $53.00 to $44.00 and set a “hold” rating on the stock in a research report on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, BorgWarner currently has an average rating of “Hold” and a consensus target price of $45.70.

BorgWarner Profile (Get Rating)

BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. The company operates through four segments: Air Management, E-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging.

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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