Maryland State Retirement & Pension System Sells 1,507 Shares of BorgWarner Inc. (NYSE:BWA)

Maryland State Retirement & Pension System reduced its position in shares of BorgWarner Inc. (NYSE:BWA) by 11.5% in the fourth quarter, Holdings Channel reports. The fund owned 11,626 shares of the auto parts company’s stock after selling 1,507 shares during the quarter. Maryland State Retirement & Pension System’s holdings in BorgWarner were worth $370,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in BorgWarner in the third quarter worth $32,000. True Wealth Design LLC purchased a new stake in shares of BorgWarner in the third quarter valued at approximately $38,000. Avior Wealth Management LLC grew its stake in BorgWarner by 31.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company’s stock worth $46,000 after purchasing an additional 342 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in BorgWarner during the 4th quarter worth $59,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in BorgWarner during the 3rd quarter valued at $62,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

BorgWarner Trading Up 0.4 %

NYSE:BWA opened at $29.56 on Wednesday. The company has a market capitalization of $6.49 billion, a P/E ratio of 20.67, a PEG ratio of 0.77 and a beta of 1.21. The company has a current ratio of 1.79, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. BorgWarner Inc. has a 12 month low of $27.65 and a 12 month high of $38.23. The firm has a fifty day simple moving average of $30.27 and a 200-day simple moving average of $32.49.

BorgWarner (NYSE:BWA) last released its earnings results on Thursday, February 6th. The auto parts company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. BorgWarner had a return on equity of 15.93% and a net margin of 2.40%. On average, equities research analysts anticipate that BorgWarner Inc. will post 4.28 earnings per share for the current year.

BorgWarner Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.44 annualized dividend and a dividend yield of 1.49%. BorgWarner’s dividend payout ratio (DPR) is presently 30.77%.

Insider Activity at BorgWarner

In related news, EVP Tania Wingfield sold 24,000 shares of BorgWarner stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $28.79, for a total transaction of $690,960.00. Following the completion of the transaction, the executive vice president now directly owns 39,110 shares in the company, valued at approximately $1,125,976.90. This trade represents a 38.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Tonit M. Calaway sold 13,500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $30.16, for a total value of $407,160.00. Following the completion of the sale, the chief accounting officer now owns 259,310 shares in the company, valued at approximately $7,820,789.60. This represents a 4.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,800 shares of company stock worth $1,347,701 over the last three months. Company insiders own 0.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on BWA. The Goldman Sachs Group cut their price target on BorgWarner from $35.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley reduced their price target on shares of BorgWarner from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. dropped their price objective on shares of BorgWarner from $51.00 to $49.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. BNP Paribas raised shares of BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 price objective for the company in a research note on Tuesday, March 18th. Finally, Barclays dropped their target price on BorgWarner from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, BorgWarner presently has an average rating of “Moderate Buy” and a consensus price target of $39.06.

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.