Illinois Municipal Retirement Fund Buys 119,170 Shares of BorgWarner Inc. (NYSE:BWA)

Illinois Municipal Retirement Fund boosted its stake in shares of BorgWarner Inc. (NYSE:BWA) by 84.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 260,556 shares of the auto parts company’s stock after acquiring an additional 119,170 shares during the period. Illinois Municipal Retirement Fund’s holdings in BorgWarner were worth $9,341,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Parkside Investments LLC increased its stake in BorgWarner by 28.7% during the 4th quarter. Parkside Investments LLC now owns 196,889 shares of the auto parts company’s stock worth $7,058,000 after acquiring an additional 43,955 shares during the period. Kennedy Capital Management LLC bought a new position in BorgWarner during the 3rd quarter worth $833,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in BorgWarner by 9.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 699,974 shares of the auto parts company’s stock worth $25,094,000 after acquiring an additional 59,925 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of BorgWarner by 24.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 180,942 shares of the auto parts company’s stock valued at $7,305,000 after purchasing an additional 35,986 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new position in shares of BorgWarner in the 3rd quarter valued at $69,000. Institutional investors own 95.67% of the company’s stock.

BorgWarner Stock Up 0.8 %

Shares of BWA opened at $33.34 on Wednesday. The stock’s 50-day moving average price is $32.58 and its two-hundred day moving average price is $34.00. BorgWarner Inc. has a 12 month low of $29.51 and a 12 month high of $50.04. The company has a current ratio of 1.65, a quick ratio of 1.30 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $7.66 billion, a PE ratio of 12.49, a PEG ratio of 0.99 and a beta of 1.31.

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

BorgWarner Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BWA shares. BNP Paribas lowered BorgWarner from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $43.00 to $35.00 in a research note on Tuesday, February 20th. TheStreet lowered BorgWarner from a “b-” rating to a “c+” rating in a research note on Thursday, February 8th. Piper Sandler started coverage on BorgWarner in a research note on Friday, March 15th. They issued an “overweight” rating and a $43.00 price target on the stock. Robert W. Baird lowered BorgWarner from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $45.00 to $39.00 in a research note on Wednesday, January 3rd. Finally, StockNews.com downgraded BorgWarner from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, BorgWarner has an average rating of “Moderate Buy” and an average target price of $44.30.

Insider Transactions at BorgWarner

In related news, VP Stefan Demmerle sold 3,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $31.29, for a total value of $93,870.00. Following the completion of the sale, the vice president now directly owns 252,013 shares of the company’s stock, valued at approximately $7,885,486.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other BorgWarner news, VP Volker Weng sold 20,000 shares of the business’s 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 completion of the sale, the vice president now directly owns 111,964 shares of the company’s stock, valued at approximately $3,678,017.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stefan Demmerle sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $31.29, for a total value of $93,870.00. Following the sale, the vice president now directly owns 252,013 shares of the company’s stock, valued at $7,885,486.77. The disclosure for this sale can be found here. In the last ninety days, insiders sold 287,503 shares of company stock valued at $9,015,478. Corporate insiders own 0.63% of the company’s stock.

BorgWarner 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.