Retirement Systems of Alabama Sells 52,657 Shares of BorgWarner Inc. (NYSE:BWA)

Retirement Systems of Alabama lessened its position in BorgWarner Inc. (NYSE:BWA - Free Report) by 7.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 610,759 shares of the auto parts company's stock after selling 52,657 shares during the period. Retirement Systems of Alabama owned 0.28% of BorgWarner worth $22,164,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BWA. Studio Investment Management LLC raised its holdings in BorgWarner by 12.4% during the third quarter. Studio Investment Management LLC now owns 2,813 shares of the auto parts company's stock worth $102,000 after buying an additional 310 shares during the last quarter. Spectrum Asset Management Inc. NB CA raised its holdings in shares of BorgWarner by 0.5% in the third quarter. Spectrum Asset Management Inc. NB CA now owns 59,457 shares of the auto parts company's stock valued at $2,158,000 after purchasing an additional 316 shares during the last quarter. First Pacific Financial boosted its stake in shares of BorgWarner by 3.6% in the 2nd quarter. First Pacific Financial now owns 9,763 shares of the auto parts company's stock worth $315,000 after buying an additional 340 shares during the last quarter. Alpha Omega Wealth Management LLC increased its position in shares of BorgWarner by 2.2% during the 3rd quarter. Alpha Omega Wealth Management LLC now owns 16,599 shares of the auto parts company's stock valued at $602,000 after purchasing an additional 350 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of BorgWarner by 1.4% during the 3rd quarter. Wellington Management Group LLP now owns 27,629 shares of the auto parts company's stock valued at $1,003,000 after acquiring an additional 394 shares during the period. 95.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Isabelle Mckenzie sold 5,700 shares of BorgWarner stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $34.62, for a total transaction of $197,334.00. Following the completion of the transaction, the vice president now directly owns 37,640 shares in the company, valued at approximately $1,303,096.80. This trade represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stefan Demmerle sold 20,544 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $34.28, for a total value of $704,248.32. Following the completion of the sale, the vice president now owns 206,969 shares in the company, valued at $7,094,897.32. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 222,010 shares of company stock worth $7,678,076 over the last three months. Company insiders own 0.45% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. The Goldman Sachs Group reduced their target price on BorgWarner from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Tuesday, October 1st. JPMorgan Chase & Co. decreased their target price on shares of BorgWarner from $51.00 to $50.00 and set an "overweight" rating on the stock in a report on Monday, October 21st. Evercore ISI raised shares of BorgWarner from an "in-line" rating to an "outperform" rating and raised their price target for the company from $39.00 to $43.00 in a report on Monday, October 14th. Guggenheim reaffirmed a "buy" rating and issued a $41.00 price target on shares of BorgWarner in a report on Thursday. Finally, Wolfe Research began coverage on shares of BorgWarner in a research report on Thursday, September 5th. They set a "peer perform" rating for the company. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.20.

BorgWarner Trading Down 2.9 %

Shares of BorgWarner stock traded down $1.00 during trading on Friday, reaching $34.05. 2,516,586 shares of the stock were exchanged, compared to its average volume of 2,643,634. BorgWarner Inc. has a 1 year low of $29.51 and a 1 year high of $38.22. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 8.64, a price-to-earnings-growth ratio of 0.77 and a beta of 1.19. The company has a quick ratio of 1.48, a current ratio of 1.84 and a debt-to-equity ratio of 0.66. The stock's fifty day moving average is $34.38 and its 200 day moving average is $33.65.

BorgWarner (NYSE:BWA - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.17. BorgWarner had a return on equity of 15.51% and a net margin of 6.33%. The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the company earned $0.98 EPS. The business's quarterly revenue was down 4.8% compared to the same quarter last year. As a group, equities research analysts expect that BorgWarner Inc. will post 4.22 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Monday, December 2nd. BorgWarner's payout ratio is currently 11.17%.

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.