Texas Permanent School Fund Reduces Stock Holdings in BorgWarner Inc. (NYSE:BWA)

Texas Permanent School Fund decreased its position in BorgWarner Inc. (NYSE:BWA) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,538 shares of the auto parts company’s stock after selling 1,930 shares during the period. Texas Permanent School Fund’s holdings in BorgWarner were worth $1,585,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Winslow Evans & Crocker Inc. raised its position in shares of BorgWarner by 146.1% in the fourth quarter. Winslow Evans & Crocker Inc. now owns 566 shares of the auto parts company’s stock worth $26,000 after buying an additional 336 shares in the last quarter. Usca Ria LLC bought a new stake in shares of BorgWarner during the 3rd quarter valued at $31,000. Steward Partners Investment Advisory LLC grew its position in shares of BorgWarner by 46.7% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 898 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 286 shares during the period. Covington Capital Management bought a new stake in shares of BorgWarner during the 3rd quarter valued at $40,000. Finally, Quadrant Capital Group LLC grew its position in shares of BorgWarner by 69.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,071 shares of the auto parts company’s stock valued at $70,000 after acquiring an additional 847 shares during the period. Institutional investors and hedge funds own 91.38% of the company’s stock.

Shares of NYSE:BWA traded down $1.38 during midday trading on Friday, hitting $33.70. The company’s stock had a trading volume of 181,506 shares, compared to its average volume of 2,795,712. The business’s 50 day simple moving average is $39.30 and its 200 day simple moving average is $38.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.58. The company has a market cap of $6.87 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 1.07 and a beta of 1.91. BorgWarner Inc. has a 12-month low of $30.71 and a 12-month high of $46.60.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, February 13th. The auto parts company reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.14. BorgWarner had a net margin of 7.43% and a return on equity of 19.43%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the firm posted $1.21 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts predict that BorgWarner Inc. will post 3.99 earnings per share for the current fiscal year.

BorgWarner declared that its Board of Directors has approved a share repurchase program on Tuesday, January 28th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the auto parts company to purchase up to 14.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.02%. BorgWarner’s dividend payout ratio (DPR) is presently 15.18%.

A number of research analysts recently weighed in on the stock. Oppenheimer set a $47.00 target price on shares of BorgWarner and gave the company a “buy” rating in a research note on Friday, November 1st. Credit Suisse Group downgraded shares of BorgWarner from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $43.00 to $41.00 in a research note on Monday, January 27th. Barclays reaffirmed a “buy” rating and issued a $46.00 price target on shares of BorgWarner in a research report on Sunday, November 3rd. Morgan Stanley lowered their price target on shares of BorgWarner from $52.00 to $43.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Finally, TheStreet cut shares of BorgWarner from a “b-” rating to a “c+” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. BorgWarner currently has an average rating of “Hold” and an average price target of $44.71.

BorgWarner Profile

BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.

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Institutional Ownership by Quarter for BorgWarner (NYSE:BWA)

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