Castleark Management LLC Acquires 109,770 Shares of BorgWarner Inc. (NYSE:BWA)

Castleark Management LLC boosted its position in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 1,969.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,344 shares of the auto parts company's stock after acquiring an additional 109,770 shares during the period. Castleark Management LLC owned approximately 0.05% of BorgWarner worth $4,186,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in BorgWarner by 23.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,628,733 shares of the auto parts company's stock valued at $278,190,000 after acquiring an additional 1,640,503 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of BorgWarner by 21,752.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,646,950 shares of the auto parts company's stock worth $168,638,000 after acquiring an additional 4,625,685 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of BorgWarner by 20.2% during the second quarter. Earnest Partners LLC now owns 3,979,776 shares of the auto parts company's stock worth $128,308,000 after purchasing an additional 669,137 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of BorgWarner by 19.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,764,103 shares of the auto parts company's stock valued at $100,309,000 after purchasing an additional 445,540 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of BorgWarner by 361.1% during the second quarter. Point72 Asset Management L.P. now owns 2,450,696 shares of the auto parts company's stock valued at $79,010,000 after acquiring an additional 1,919,219 shares during the period. 95.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Isabelle Mckenzie sold 5,700 shares of BorgWarner stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $34.62, for a total value of $197,334.00. Following the sale, the vice president now owns 37,640 shares of the company's stock, valued at approximately $1,303,096.80. The trade was a 13.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Stefan Demmerle sold 21,500 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $34.79, for a total value of $747,985.00. Following the completion of the transaction, the vice president now owns 227,513 shares in the company, valued at approximately $7,915,177.27. The trade was a 8.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 222,010 shares of company stock worth $7,678,076. 0.45% of the stock is currently owned by company insiders.

BorgWarner Stock Performance

Shares of BorgWarner stock traded down $0.19 during trading on Friday, reaching $33.80. The company's stock had a trading volume of 2,294,286 shares, compared to its average volume of 1,867,148. 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 $7.39 billion, a PE ratio of 8.58, a P/E/G ratio of 0.77 and a beta of 1.19. The business's 50-day moving average price is $34.46 and its 200-day moving average price is $33.70.

BorgWarner (NYSE:BWA - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.17. The firm had revenue of $3.45 billion during the quarter, compared to analysts' expectations of $3.50 billion. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. The company's revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 EPS. Equities analysts forecast that BorgWarner Inc. will post 4.22 earnings per share for the current year.

BorgWarner Announces Dividend

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 is Monday, December 2nd. This represents a $0.44 annualized dividend and a yield of 1.30%. BorgWarner's dividend payout ratio is currently 11.17%.

Wall Street Analyst Weigh In

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