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

HITE Hedge Asset Management LLC boosted its position in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 28.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 290,317 shares of the auto parts company's stock after acquiring an additional 64,126 shares during the period. HITE Hedge Asset Management LLC owned 0.13% of BorgWarner worth $10,536,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in BorgWarner by 21,752.6% during the 3rd quarter. Pacer Advisors Inc. now owns 4,646,950 shares of the auto parts company's stock valued at $168,638,000 after purchasing an additional 4,625,685 shares during the period. Point72 Asset Management L.P. increased its position in 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 worth $79,010,000 after acquiring an additional 1,919,219 shares during the period. Dimensional Fund Advisors LP raised its stake in BorgWarner by 23.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,628,733 shares of the auto parts company's stock valued at $278,190,000 after purchasing an additional 1,640,503 shares during the last quarter. Earnest Partners LLC raised its position 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 valued at $128,308,000 after buying an additional 669,137 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in BorgWarner by 86.0% during the second quarter. Hsbc Holdings PLC now owns 1,410,411 shares of the auto parts company's stock worth $45,576,000 after buying an additional 652,097 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 directly owns 37,640 shares in the company, valued at $1,303,096.80. This trade represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul Arthur Farrell sold 20,266 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $34.47, for a total transaction of $698,569.02. Following the transaction, the executive vice president now owns 32,366 shares of the company's stock, valued at $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 222,010 shares of company stock worth $7,678,076 in the last 90 days. Corporate insiders own 0.63% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in 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 raised 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. JPMorgan Chase & Co. cut their price target on BorgWarner from $51.00 to $50.00 and set an "overweight" rating for the company in a report on Monday, October 21st. Evercore ISI upgraded shares of BorgWarner from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $39.00 to $43.00 in a research report on Monday, October 14th. Finally, Wolfe Research initiated coverage on shares of BorgWarner in a research report on Thursday, September 5th. They set a "peer perform" rating on the stock. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.21.

BorgWarner Trading Down 1.4 %

Shares of NYSE:BWA traded down $0.47 during mid-day trading on Tuesday, reaching $33.85. The stock had a trading volume of 2,016,468 shares, compared to its average volume of 1,827,260. The firm has a 50 day simple moving average of $34.57 and a two-hundred day simple moving average of $33.75. BorgWarner Inc. has a twelve month low of $29.51 and a twelve month high of $38.22. The firm has a market cap of $7.40 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 0.76 and a beta of 1.19. The company has a current ratio of 1.84, a quick ratio of 1.48 and a debt-to-equity ratio of 0.66.

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 for the quarter, topping 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 analysts' expectations of $3.50 billion. During the same period last year, the firm posted $0.98 earnings per share. The business's quarterly revenue was down 4.8% compared to the same quarter last year. On average, research analysts predict that BorgWarner Inc. will post 4.22 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given 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 dividend payout ratio is currently 11.17%.

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.