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

New York State Teachers Retirement System lessened its stake in BorgWarner Inc. (NYSE:BWA) by 14.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 204,389 shares of the auto parts company’s stock after selling 34,893 shares during the period. New York State Teachers Retirement System owned about 0.09% of BorgWarner worth $7,417,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC lifted its stake in shares of BorgWarner by 59.2% in the second quarter. SG Americas Securities LLC now owns 42,729 shares of the auto parts company’s stock valued at $1,378,000 after buying an additional 15,883 shares during the period. Bessemer Group Inc. raised its position in BorgWarner by 90.7% in the first quarter. Bessemer Group Inc. now owns 39,202 shares of the auto parts company’s stock worth $1,363,000 after purchasing an additional 18,640 shares in the last quarter. Edgestream Partners L.P. raised its position in BorgWarner by 419.7% in the first quarter. Edgestream Partners L.P. now owns 66,521 shares of the auto parts company’s stock worth $2,311,000 after purchasing an additional 53,721 shares in the last quarter. Toronto Dominion Bank raised its position in BorgWarner by 33.4% in the first quarter. Toronto Dominion Bank now owns 137,876 shares of the auto parts company’s stock worth $4,790,000 after purchasing an additional 34,488 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. raised its position in BorgWarner by 14.3% in the first quarter. Leith Wheeler Investment Counsel Ltd. now owns 383,185 shares of the auto parts company’s stock worth $13,312,000 after purchasing an additional 48,020 shares in the last quarter. Institutional investors own 95.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on BWA shares. The Goldman Sachs Group dropped their price target 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. Bank of America dropped their price target on shares of BorgWarner from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Wells Fargo & Company dropped their price target on shares of BorgWarner from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Robert W. Baird raised their price objective on shares of BorgWarner from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Citigroup dropped their price objective on shares of BorgWarner from $41.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.44.

Insider Transactions at BorgWarner

In other news, EVP Tania Wingfield sold 2,066 shares of BorgWarner stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.00, for a total transaction of $66,112.00. Following the transaction, the executive vice president now directly owns 46,016 shares of the company’s stock, valued at $1,472,512. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.45% of the company’s stock.

BorgWarner Price Performance

Shares of BWA stock opened at $33.45 on Tuesday. BorgWarner Inc. has a 52-week low of $29.51 and a 52-week high of $38.22. The stock has a market cap of $7.62 billion, a PE ratio of 8.49, a PEG ratio of 0.73 and a beta of 1.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.26 and a current ratio of 1.84. The firm’s 50 day moving average price is $34.06 and its two-hundred day moving average price is $33.89.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period last year, the firm earned $0.98 earnings per share. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. As a group, analysts forecast that BorgWarner Inc. will post 4.09 EPS for the current year.

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.