BorgWarner Inc. $BWA Shares Sold by North Dakota State Investment Board

North Dakota State Investment Board cut its stake in BorgWarner Inc. (NYSE:BWA) by 80.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,274 shares of the auto parts company’s stock after selling 26,644 shares during the quarter. North Dakota State Investment Board’s holdings in BorgWarner were worth $377,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of BWA. Clearstead Trust LLC purchased a new stake in shares of BorgWarner in the second quarter valued at about $28,000. Ceredex Value Advisors LLC bought a new position in BorgWarner during the second quarter valued at about $40,000. William Mack & Associates Inc. purchased a new stake in BorgWarner during the third quarter worth about $46,000. Fiduciary Financial Advisors bought a new stake in BorgWarner in the second quarter worth about $49,000. Finally, Cedar Mountain Advisors LLC purchased a new position in BorgWarner in the first quarter valued at about $55,000. Institutional investors own 95.67% of the company’s stock.

Insider Activity at BorgWarner

In related news, Director Rajesh Kalathur purchased 7,407 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average cost of $67.59 per share, with a total value of $500,639.13. Following the completion of the purchase, the director directly owned 7,407 shares in the company, valued at approximately $500,639.13. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Hanley sold 5,000 shares of BorgWarner stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $65.51, for a total value of $327,550.00. Following the sale, the director directly owned 34,313 shares in the company, valued at approximately $2,247,844.63. The trade was a 12.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.76% of the stock is owned by corporate insiders.

BorgWarner Stock Performance

NYSE:BWA opened at $51.70 on Tuesday. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 0.82 and a beta of 1.16. The business has a 50 day moving average of $60.99 and a 200 day moving average of $60.56. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.13 and a quick ratio of 1.76. BorgWarner Inc. has a 1-year low of $40.73 and a 1-year high of $78.82.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, October 29th. The auto parts company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.25 by $0.14. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.50 billion. BorgWarner had a net margin of 2.89% and a return on equity of 19.10%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. On average, sell-side analysts predict that BorgWarner Inc. will post 5.27 earnings per share for the current fiscal year.

BorgWarner declared that its board has initiated a share buyback program on Wednesday, August 5th that permits the company to buy back $1 billion in shares. This repurchase authorization permits the auto parts company to buy up to 7.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

BWA has been the topic of several research analyst reports. UBS Group dropped their price objective on BorgWarner from $95.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. Royal Bank Of Canada cut their price objective on shares of BorgWarner from $87.00 to $75.00 and set an “outperform” rating for the company in a report on Friday. JPMorgan Chase & Co. increased their target price on BorgWarner from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Robert W. Baird set a $79.00 target price on BorgWarner in a report on Thursday, August 6th. Finally, Barclays cut their price objective on shares of BorgWarner from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.00.

About BorgWarner

BorgWarner Inc (NYSE:BWA) is a global automotive technology company that develops and manufactures propulsion and mobility systems for vehicle manufacturers and commercial vehicle customers. The company serves both internal-combustion and electrified vehicle markets, with a portfolio focused on improving vehicle efficiency, performance, emissions, and electrification.

Its products and technologies include turbochargers, emissions and thermal-management systems, transmission components, friction products, battery systems, battery charging equipment, power electronics, electric motors, and other electric-drive components.