New York State Teachers Retirement System Sells 34,893 Shares of BorgWarner Inc. (NYSE:BWA)

New York State Teachers Retirement System cut its position in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 14.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 204,389 shares of the auto parts company's stock after selling 34,893 shares during the quarter. New York State Teachers Retirement System owned 0.09% of BorgWarner worth $7,417,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BWA. Dimensional Fund Advisors LP grew its holdings in BorgWarner by 23.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,628,733 shares of the auto parts company's stock valued at $278,190,000 after purchasing an additional 1,640,503 shares during the last quarter. Earnest Partners LLC grew its stake in BorgWarner by 20.2% in the 2nd quarter. Earnest Partners LLC now owns 3,979,776 shares of the auto parts company's stock valued at $128,308,000 after buying an additional 669,137 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in BorgWarner by 361.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,450,696 shares of the auto parts company's stock worth $79,010,000 after acquiring an additional 1,919,219 shares during the period. Sei Investments Co. increased its stake in shares of BorgWarner by 17.1% in the second quarter. Sei Investments Co. now owns 2,217,195 shares of the auto parts company's stock worth $71,482,000 after purchasing an additional 324,087 shares during the period. Finally, Silvercrest Asset Management Group LLC lifted its position in shares of BorgWarner by 8.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,004,423 shares of the auto parts company's stock worth $69,634,000 after purchasing an additional 159,271 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 analysts have recently commented on BWA shares. The Goldman Sachs Group cut their price objective on shares of BorgWarner from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Tuesday, October 1st. Robert W. Baird lifted their target price on shares of BorgWarner from $38.00 to $39.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft increased their price target on shares of BorgWarner from $38.00 to $39.00 and gave the stock a "hold" rating in a research report on Monday. Barclays increased their target price on BorgWarner from $45.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st. Finally, UBS Group boosted their price target on BorgWarner from $41.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $41.44.

BorgWarner Stock Performance

BorgWarner stock traded up $0.49 during midday trading on Tuesday, reaching $33.94. The stock had a trading volume of 1,058,830 shares, compared to its average volume of 2,705,756. The firm's 50-day moving average price is $34.05 and its 200 day moving average price is $33.89. The company has a quick ratio of 1.48, a current ratio of 1.84 and a debt-to-equity ratio of 0.66. BorgWarner Inc. has a 12 month low of $29.51 and a 12 month high of $38.22. The firm has a market capitalization of $7.42 billion, a PE ratio of 8.49, a P/E/G ratio of 0.70 and a beta of 1.20.

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

Insider Transactions at BorgWarner

In other BorgWarner news, EVP Tania Wingfield sold 2,066 shares of the business's stock in a transaction dated Tuesday, August 13th. The stock was 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 owns 46,016 shares of the company's stock, valued at approximately $1,472,512. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.63% of the company's stock.

BorgWarner Company 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.