Kentucky Retirement Systems Sells 1,357 Shares of BorgWarner Inc. (NYSE:BWA)

Kentucky Retirement Systems lessened its stake in shares of BorgWarner Inc. (NYSE:BWA) by 7.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,450 shares of the auto parts company’s stock after selling 1,357 shares during the period. Kentucky Retirement Systems’ holdings in BorgWarner were worth $606,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new stake in BorgWarner during the 4th quarter worth approximately $30,000. Riverview Trust Co purchased a new stake in shares of BorgWarner in the 1st quarter valued at $30,000. LRI Investments LLC purchased a new stake in shares of BorgWarner in the 1st quarter valued at $35,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of BorgWarner by 12,144.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,102 shares of the auto parts company’s stock valued at $38,000 after acquiring an additional 1,093 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of BorgWarner in the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Wall Street Analyst Weigh In

BWA has been the topic of several recent research reports. Citigroup dropped their price objective on shares of BorgWarner from $41.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Barclays boosted their target price on shares of BorgWarner from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Bank of America decreased their target price on shares of BorgWarner from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. TD Cowen increased their price objective on shares of BorgWarner from $36.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Oppenheimer increased their price objective on shares of BorgWarner from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.29.

BorgWarner Price Performance

Shares of NYSE:BWA traded down $0.25 during midday trading on Monday, hitting $32.56. The company’s stock had a trading volume of 1,047,544 shares, compared to its average volume of 2,830,250. The business’s 50 day simple moving average is $33.59 and its 200 day simple moving average is $33.46. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.20 and a current ratio of 1.54. The company has a market cap of $7.42 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 0.76 and a beta of 1.22. BorgWarner Inc. has a 12-month low of $29.51 and a 12-month high of $46.75.

BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.16. BorgWarner had a net margin of 4.02% and a return on equity of 15.33%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period last year, the business earned $1.09 earnings per share. BorgWarner’s revenue was up 6.3% compared to the same quarter last year. On average, analysts forecast that BorgWarner Inc. will post 4.01 EPS for the current year.

BorgWarner announced that its board has initiated a stock buyback program on Thursday, May 2nd that permits the company to buyback $500.00 million in shares. This buyback authorization permits the auto parts company to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

BorgWarner Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.35%. The ex-dividend date is Tuesday, September 3rd. BorgWarner’s payout ratio is currently 16.67%.

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.