Kentucky Retirement Systems Insurance Trust Fund Sells 605 Shares of BorgWarner Inc. (NYSE:BWA)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in BorgWarner Inc. (NYSE:BWA) by 8.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,744 shares of the auto parts company’s stock after selling 605 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in BorgWarner were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BWA. Matrix Trust Co purchased a new position in shares of BorgWarner during the third quarter valued at approximately $25,000. LRI Investments LLC grew its stake in BorgWarner by 2,685.3% in the second quarter. LRI Investments LLC now owns 947 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 913 shares during the period. Sentry Investment Management LLC purchased a new stake in BorgWarner in the second quarter worth $32,000. Olistico Wealth LLC purchased a new stake in shares of BorgWarner in the second quarter worth $35,000. Finally, Gradient Investments LLC grew its stake in shares of BorgWarner by 1,117.2% in the second quarter. Gradient Investments LLC now owns 1,205 shares of the auto parts company’s stock worth $39,000 after acquiring an additional 1,106 shares during the last quarter. Institutional investors own 95.67% of the company’s stock.

BorgWarner Stock Performance

NYSE BWA opened at $33.12 on Wednesday. The stock’s fifty day moving average is $34.33 and its two-hundred day moving average is $33.95. The firm has a market capitalization of $7.24 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 0.71 and a beta of 1.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.48 and a current ratio of 1.84. BorgWarner Inc. has a fifty-two week low of $29.51 and a fifty-two week high of $38.22.

BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. BorgWarner had a return on equity of 15.51% and a net margin of 6.33%. The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, research analysts anticipate that BorgWarner Inc. will post 4.23 earnings per share for the current year.

BorgWarner Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.11 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 annualized dividend and a dividend yield of 1.33%. BorgWarner’s dividend payout ratio is presently 11.17%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft increased their target price on BorgWarner from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their price target on BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Robert W. Baird increased their target price on BorgWarner from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Wolfe Research initiated coverage on BorgWarner in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, The Goldman Sachs Group cut their target price on BorgWarner from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.21.

Insider Activity at BorgWarner

In other news, VP Isabelle Mckenzie sold 5,700 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $34.62, for a total transaction of $197,334.00. Following the transaction, the vice president now directly owns 37,640 shares in the company, valued at approximately $1,303,096.80. This trade represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frederic Lissalde sold 154,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.61, for a total transaction of $5,329,940.00. Following the completion of the sale, the chief executive officer now owns 259,957 shares of the company’s stock, valued at approximately $8,997,111.77. This trade represents a 37.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,466 shares of company stock worth $6,973,828. 0.63% of the stock is currently owned by company insiders.

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.