Illinois Municipal Retirement Fund Raises Holdings in BorgWarner Inc. $BWA

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

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BWA. Caitong International Asset Management Co. Ltd boosted its position in BorgWarner by 1,133.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 777 shares of the auto parts company’s stock worth $26,000 after purchasing an additional 714 shares during the period. Assetmark Inc. lifted its stake in shares of BorgWarner by 81.8% during the 2nd quarter. Assetmark Inc. now owns 809 shares of the auto parts company’s stock valued at $27,000 after buying an additional 364 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in shares of BorgWarner during the 1st quarter valued at approximately $30,000. Trust Co. of Vermont boosted its holdings in BorgWarner by 55,000.0% in the 2nd quarter. Trust Co. of Vermont now owns 1,102 shares of the auto parts company’s stock worth $37,000 after buying an additional 1,100 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in BorgWarner by 111.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,108 shares of the auto parts company’s stock valued at $37,000 after buying an additional 585 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

BorgWarner Price Performance

Shares of NYSE BWA opened at $45.76 on Wednesday. The stock’s 50-day simple moving average is $43.62 and its two-hundred day simple moving average is $38.20. BorgWarner Inc. has a twelve month low of $24.40 and a twelve month high of $45.88. The firm has a market capitalization of $9.79 billion, a P/E ratio of 48.68, a P/E/G 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.

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

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

Insider Buying and Selling

In other news, VP Isabelle Mckenzie sold 3,200 shares of the stock in a transaction on 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 owned 43,555 shares of the company’s stock, valued at $1,926,437.65. This represents a 6.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexis P. Michas sold 8,772 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $42.31, for a total transaction of $371,143.32. Following the sale, the director owned 78,903 shares in the company, valued at approximately $3,338,385.93. This trade represents a 10.01% decrease in their position. The SEC filing for this sale provides additional information. 0.45% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BWA. Barclays increased their target price on BorgWarner from $45.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Evercore ISI increased their price objective on BorgWarner from $42.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Piper Sandler raised their target price on BorgWarner from $37.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. UBS Group upped 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. Finally, Bank of America lowered shares of BorgWarner from a “buy” rating to a “neutral” rating and raised their price objective for the company from $41.00 to $46.00 in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, BorgWarner has an average rating of “Moderate Buy” and an average price target of $45.85.

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.