California Public Employees Retirement System Sells 32,118 Shares of BorgWarner Inc. (NYSE:BWA)

California Public Employees Retirement System lessened its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 435,988 shares of the auto parts company’s stock after selling 32,118 shares during the period. California Public Employees Retirement System owned about 0.20% of BorgWarner worth $13,860,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of BorgWarner by 3.5% during the third quarter. Geode Capital Management LLC now owns 6,384,366 shares of the auto parts company’s stock valued at $231,376,000 after buying an additional 217,050 shares during the period. American Century Companies Inc. boosted its holdings in BorgWarner by 20.5% in the fourth quarter. American Century Companies Inc. now owns 3,656,194 shares of the auto parts company’s stock valued at $116,230,000 after acquiring an additional 621,243 shares in the last quarter. Sei Investments Co. increased its position in BorgWarner by 12.9% during the 4th quarter. Sei Investments Co. now owns 2,471,252 shares of the auto parts company’s stock valued at $78,561,000 after purchasing an additional 282,659 shares during the period. Ninety One UK Ltd raised its holdings in BorgWarner by 22.5% in the 4th quarter. Ninety One UK Ltd now owns 1,963,721 shares of the auto parts company’s stock worth $62,427,000 after purchasing an additional 361,112 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of BorgWarner in the 4th quarter worth about $62,180,000. Institutional investors own 95.67% of the company’s stock.

BorgWarner Stock Performance

Shares of BWA opened at $25.92 on Friday. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 0.77 and a beta of 1.21. The business’s fifty day simple moving average is $29.63 and its two-hundred day simple moving average is $32.27. BorgWarner Inc. has a 12 month low of $24.66 and a 12 month high of $38.23. The company has a current ratio of 1.79, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66.

BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, February 6th. The auto parts company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.93 by $0.08. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. Research analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.11 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 1.70%. BorgWarner’s dividend payout ratio (DPR) is 30.77%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BWA shares. The Goldman Sachs Group reduced their price target on shares of BorgWarner from $35.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Morgan Stanley reduced their target price on BorgWarner from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler reduced their price target on BorgWarner from $43.00 to $36.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Finally, Evercore ISI lowered their price objective on BorgWarner from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.06.

Insider Buying and Selling

In other BorgWarner news, EVP Tania Wingfield sold 24,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total value of $690,960.00. Following the transaction, the executive vice president now owns 39,110 shares of the company’s stock, valued at approximately $1,125,976.90. This represents a 38.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Tonit M. Calaway sold 13,500 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $30.16, for a total value of $407,160.00. Following the sale, the chief accounting officer now owns 259,310 shares of the company’s stock, valued at approximately $7,820,789.60. This represents a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,800 shares of company stock worth $1,347,701. 0.45% of the stock is owned by insiders.

About BorgWarner

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.