HITE Hedge Asset Management LLC Purchases 64,126 Shares of BorgWarner Inc. (NYSE:BWA)

HITE Hedge Asset Management LLC boosted its holdings in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 28.4% during the third quarter, according to the company in its most recent Form 13F 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 approximately 0.13% of BorgWarner worth $10,536,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Matrix Trust Co bought a new position in shares of BorgWarner during the third quarter worth approximately $25,000. LRI Investments LLC lifted its holdings in shares of BorgWarner by 2,685.3% during the second quarter. LRI Investments LLC now owns 947 shares of the auto parts company's stock worth $31,000 after buying an additional 913 shares in the last quarter. Sentry Investment Management LLC bought a new stake in shares of BorgWarner in the second quarter valued at about $32,000. Brooklyn Investment Group acquired a new position in shares of BorgWarner in the third quarter valued at about $32,000. Finally, Olistico Wealth LLC bought a new position in BorgWarner during the second quarter worth about $35,000. 95.67% of the stock is owned by institutional investors and hedge funds.

BorgWarner Trading Down 1.4 %

Shares of NYSE BWA traded down $0.47 during trading on Tuesday, reaching $33.85. The company had a trading volume of 2,016,468 shares, compared to its average volume of 1,827,260. The stock has a market cap of $7.40 billion, a P/E ratio of 8.59, a PEG ratio of 0.76 and a beta of 1.19. The company's fifty day moving average price is $34.57 and its 200-day moving average price is $33.75. 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 12 month low of $29.51 and a 12 month high of $38.22.

BorgWarner (NYSE:BWA - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 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 company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the firm posted $0.98 EPS. The company's quarterly revenue was down 4.8% on a year-over-year basis. As a group, research analysts expect that BorgWarner Inc. will post 4.22 earnings per share for the current year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Monday, December 2nd. BorgWarner's payout ratio is 11.17%.

Insider Buying and Selling

In other news, VP Stefan Demmerle sold 20,544 shares of BorgWarner 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 transaction, the vice president now directly owns 206,969 shares in the company, valued at $7,094,897.32. This trade represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul Arthur Farrell sold 20,266 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $34.47, for a total transaction of $698,569.02. Following the completion of the transaction, the executive vice president now directly owns 32,366 shares in the company, valued at approximately $1,115,656.02. The trade was a 38.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,010 shares of company stock valued at $7,678,076 over the last ninety days. 0.63% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of BorgWarner from $51.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft boosted their price target on BorgWarner from $38.00 to $39.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Evercore ISI upgraded shares of BorgWarner from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $39.00 to $43.00 in a research note on Monday, October 14th. The Goldman Sachs Group dropped their target price 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. Finally, Wolfe Research began coverage on BorgWarner in a report on Thursday, September 5th. They set a "peer perform" rating for the company. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.21.

BorgWarner 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.