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

HITE Hedge Asset Management LLC grew its position in BorgWarner Inc. (NYSE:BWA) by 28.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 290,317 shares of the auto parts company’s stock after purchasing an additional 64,126 shares during the period. HITE Hedge Asset Management LLC’s holdings in BorgWarner were worth $10,536,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BWA. Matrix Trust Co purchased a new position in shares of BorgWarner in the 3rd quarter worth about $25,000. Brooklyn Investment Group acquired a new stake in BorgWarner in the third quarter worth about $32,000. LRI Investments LLC raised its position in BorgWarner by 2,685.3% during the second quarter. LRI Investments LLC now owns 947 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 913 shares in the last quarter. Sentry Investment Management LLC acquired a new stake in shares of BorgWarner in the second quarter worth approximately $32,000. Finally, True Wealth Design LLC purchased a new position in shares of BorgWarner during the 3rd quarter worth $38,000. Institutional investors own 95.67% of the company’s stock.

BorgWarner Stock Up 0.3 %

Shares of BWA opened at $34.33 on Tuesday. BorgWarner Inc. has a 12 month low of $29.51 and a 12 month high of $38.22. The company has a current ratio of 1.84, a quick ratio of 1.48 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $7.51 billion, a PE ratio of 8.71, a P/E/G ratio of 0.76 and a beta of 1.19. The firm’s 50 day moving average is $34.57 and its 200-day moving average is $33.75.

BorgWarner (NYSE:BWA) last posted its earnings results on Thursday, October 31st. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.17. The business had revenue of $3.45 billion for 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 business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. Equities research analysts forecast that BorgWarner Inc. will post 4.22 EPS for the current year.

BorgWarner Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Monday, December 2nd. BorgWarner’s dividend payout ratio is currently 11.17%.

Insider Activity

In related news, VP Isabelle Mckenzie sold 5,700 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $34.62, for a total value 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 represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Stefan Demmerle sold 21,500 shares of the business’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 sale, the vice president now directly owns 227,513 shares of the company’s stock, 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. Insiders sold a total of 222,010 shares of company stock valued at $7,678,076 in the last three months. 0.63% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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