BorgWarner Inc. (NYSE:BWA) Stock Position Lifted by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC raised its holdings in BorgWarner Inc. (NYSE:BWA) by 28.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 290,317 shares of the auto parts company’s stock after buying an additional 64,126 shares during the quarter. HITE Hedge Asset Management LLC owned 0.13% of BorgWarner worth $10,536,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BWA. SG Americas Securities LLC grew its holdings in shares of BorgWarner by 59.2% during 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 last quarter. Mirabella Financial Services LLP purchased a new position in BorgWarner during the third quarter worth $908,000. Swedbank AB raised its holdings in BorgWarner by 236.5% in the third quarter. Swedbank AB now owns 844,112 shares of the auto parts company’s stock worth $30,633,000 after purchasing an additional 593,265 shares in the last quarter. Edgestream Partners L.P. boosted its position in BorgWarner by 191.2% in the 2nd quarter. Edgestream Partners L.P. now owns 193,733 shares of the auto parts company’s stock worth $6,246,000 after purchasing an additional 127,212 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of BorgWarner during the 2nd quarter worth about $1,016,000. Institutional investors own 95.67% of the company’s stock.

Insider Buying and Selling

In other BorgWarner news, VP Isabelle Mckenzie sold 5,700 shares of BorgWarner stock in a transaction 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 completion of the sale, the vice president now owns 37,640 shares of the company’s stock, valued at $1,303,096.80. This trade represents a 13.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Stefan Demmerle sold 20,544 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $34.28, for a total transaction of $704,248.32. Following the completion of the sale, the vice president now directly owns 206,969 shares in the company, valued at approximately $7,094,897.32. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 222,010 shares of company stock valued at $7,678,076. 0.63% of the stock is owned by company insiders.

BorgWarner Stock Up 0.3 %

Shares of NYSE BWA opened at $34.33 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 1.84 and a debt-to-equity ratio of 0.66. BorgWarner Inc. has a 52-week low of $29.51 and a 52-week high of $38.22. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 8.71, a PEG ratio of 0.76 and a beta of 1.19. The business’s 50 day moving average is $34.57 and its two-hundred day moving average is $33.75.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.92 by $0.17. The business had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.50 billion. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. The company’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. Research analysts predict that BorgWarner Inc. will post 4.22 EPS for the current year.

BorgWarner Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 annualized dividend and a yield of 1.28%. BorgWarner’s dividend payout ratio (DPR) is 11.17%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BWA. The Goldman Sachs Group decreased their target price on shares of BorgWarner from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of BorgWarner from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Wolfe Research assumed coverage on shares of BorgWarner in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. decreased their target price on shares of BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Evercore ISI raised BorgWarner from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $39.00 to $43.00 in a report on Monday, October 14th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.21.

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.