BorgWarner Inc. (NYSE:BWA) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its holdings in BorgWarner Inc. (NYSE:BWA - Free Report) by 19.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 492,041 shares of the auto parts company's stock after acquiring an additional 80,106 shares during the period. New York State Common Retirement Fund owned 0.22% of BorgWarner worth $17,856,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Matrix Trust Co bought a new stake in BorgWarner in the 3rd quarter valued at $25,000. LRI Investments LLC bought a new stake in BorgWarner in the 1st quarter worth approximately $35,000. Sentry Investment Management LLC purchased a new stake in shares of BorgWarner during the 2nd quarter worth approximately $32,000. Olistico Wealth LLC bought a new position in shares of BorgWarner during the 2nd quarter valued at approximately $35,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of BorgWarner by 12,144.4% during 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. Hedge funds and other institutional investors own 95.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BWA. Wells Fargo & Company decreased their price target on shares of BorgWarner from $44.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, August 1st. JPMorgan Chase & Co. dropped their price target on BorgWarner from $51.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Bank of America reduced their price objective on BorgWarner from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, July 22nd. Evercore ISI raised BorgWarner from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $39.00 to $43.00 in a research note on Monday, October 14th. Finally, Wolfe Research started coverage on BorgWarner in a research report on Thursday, September 5th. They set a "peer perform" rating on the stock. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $41.44.

BorgWarner Stock Up 2.4 %

BorgWarner stock traded up $0.83 during midday trading on Wednesday, hitting $34.85. 2,437,726 shares of the company's stock were exchanged, compared to its average volume of 2,709,540. The firm has a 50-day moving average of $34.06 and a two-hundred day moving average of $33.90. BorgWarner Inc. has a 12 month low of $29.51 and a 12 month high of $38.22. The company has a market cap of $7.62 billion, a PE ratio of 8.63, a P/E/G ratio of 0.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.48 and a current ratio of 1.84.

BorgWarner (NYSE:BWA - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.17. The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.50 billion. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. BorgWarner's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, analysts expect that BorgWarner Inc. will post 4.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BorgWarner news, EVP Tania Wingfield sold 2,066 shares of the business's stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.00, for a total value of $66,112.00. Following the completion of the transaction, the executive vice president now directly owns 46,016 shares in the company, valued at approximately $1,472,512. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.63% of the stock is currently owned by company 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.