Illinois Municipal Retirement Fund Buys 82,909 Shares of BorgWarner Inc. $BWA

Illinois Municipal Retirement Fund increased its position in BorgWarner Inc. (NYSE:BWA) by 73.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,550 shares of the auto parts company’s stock after buying an additional 82,909 shares during the period. Illinois Municipal Retirement Fund owned 0.09% of BorgWarner worth $6,580,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CSM Advisors LLC grew its stake in BorgWarner by 13.7% in the second quarter. CSM Advisors LLC now owns 60,744 shares of the auto parts company’s stock valued at $2,033,000 after acquiring an additional 7,320 shares during the period. Campbell & CO Investment Adviser LLC lifted its holdings in shares of BorgWarner by 222.7% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 159,866 shares of the auto parts company’s stock worth $5,352,000 after purchasing an additional 110,330 shares in the last quarter. Aviva PLC acquired a new stake in BorgWarner in the 2nd quarter valued at $527,000. Los Angeles Capital Management LLC increased its stake in BorgWarner by 194.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 28,361 shares of the auto parts company’s stock valued at $950,000 after purchasing an additional 18,730 shares in the last quarter. Finally, Prospera Financial Services Inc raised its holdings in BorgWarner by 10.2% during the second quarter. Prospera Financial Services Inc now owns 15,319 shares of the auto parts company’s stock worth $513,000 after buying an additional 1,419 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

BorgWarner Price Performance

Shares of NYSE BWA opened at $45.76 on Wednesday. The company has a market capitalization of $9.79 billion, a PE ratio of 48.68, a PEG ratio of 1.58 and a beta of 1.06. The company has a quick ratio of 1.66, a current ratio of 2.02 and a debt-to-equity ratio of 0.64. The stock’s 50 day moving average price is $43.62 and its 200-day moving average price is $38.20. BorgWarner Inc. has a twelve month low of $24.40 and a twelve month high of $45.88.

BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, October 30th. The auto parts company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.08. BorgWarner had a return on equity of 16.17% and a net margin of 1.50%.The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period last year, the company posted $1.09 earnings per share. BorgWarner’s quarterly revenue was up 4.1% compared to the same quarter last year. BorgWarner has set its FY 2025 guidance at 4.600-4.750 EPS. On average, equities analysts anticipate that BorgWarner Inc. will post 4.28 EPS for the current year.

BorgWarner announced that its Board of Directors has initiated a stock buyback program on Thursday, July 31st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the auto parts company to buy up to 13.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BWA. Robert W. Baird set a $54.00 price objective on shares of BorgWarner in a report on Friday, October 31st. Morgan Stanley lifted their price target on BorgWarner from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 12th. Evercore ISI increased their price objective on BorgWarner from $42.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BorgWarner in a research report on Wednesday, October 8th. Finally, UBS Group increased their price target on BorgWarner from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.85.

Insiders Place Their Bets

In related news, VP Isabelle Mckenzie sold 3,200 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $44.23, for a total value of $141,536.00. Following the transaction, the vice president directly owned 43,555 shares of the company’s stock, valued at approximately $1,926,437.65. The trade was a 6.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexis P. Michas sold 8,772 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $42.31, for a total transaction of $371,143.32. Following the transaction, the director owned 78,903 shares of the company’s stock, valued at approximately $3,338,385.93. The trade was a 10.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.45% of the company’s stock.

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.