Woodline Partners LP Purchases New Stake in BorgWarner Inc. (NYSE:BWA)

Woodline Partners LP bought a new position in shares of BorgWarner Inc. (NYSE:BWA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,134 shares of the auto parts company's stock, valued at approximately $418,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vivaldi Capital Management LP acquired a new position in BorgWarner during the fourth quarter worth about $14,052,000. Twinbeech Capital LP acquired a new position in BorgWarner during the fourth quarter worth about $436,000. Two Sigma Investments LP raised its position in BorgWarner by 2.4% during the fourth quarter. Two Sigma Investments LP now owns 88,078 shares of the auto parts company's stock worth $2,800,000 after acquiring an additional 2,078 shares during the last quarter. Turtle Creek Asset Management Inc. raised its position in BorgWarner by 7.0% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 4,078,780 shares of the auto parts company's stock worth $129,664,000 after acquiring an additional 267,250 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new position in BorgWarner during the fourth quarter worth about $317,000. Institutional investors and hedge funds own 95.67% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised shares of BorgWarner from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $31.00 to $34.00 in a research report on Thursday, April 10th. Robert W. Baird boosted their price objective on shares of BorgWarner from $29.00 to $32.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Barclays cut their price objective on shares of BorgWarner from $42.00 to $35.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Guggenheim cut their price objective on shares of BorgWarner from $38.00 to $33.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Evercore ISI cut their price objective on shares of BorgWarner from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $37.73.

BorgWarner Trading Down 1.0%

BWA traded down $0.33 during trading on Friday, hitting $33.12. 2,020,989 shares of the company's stock were exchanged, compared to its average volume of 2,690,549. The company has a current ratio of 1.79, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. BorgWarner Inc. has a 1 year low of $24.40 and a 1 year high of $37.29. The stock has a 50 day moving average price of $29.34 and a 200 day moving average price of $30.78. The firm has a market cap of $7.28 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 0.77 and a beta of 1.08.

BorgWarner (NYSE:BWA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.13. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. BorgWarner's revenue for the quarter was down 2.2% on a year-over-year basis. As a group, analysts expect that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.33%. BorgWarner's dividend payout ratio is currently 35.20%.

Insiders Place Their Bets

In other news, EVP Tonit M. Calaway sold 27,736 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $32.83, for a total value of $910,572.88. Following the completion of the transaction, the executive vice president now directly owns 214,521 shares in the company, valued at approximately $7,042,724.43. This represents a 11.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tania Wingfield sold 24,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total transaction of $690,960.00. Following the completion of the transaction, the executive vice president now owns 39,110 shares of the company's stock, valued at $1,125,976.90. This trade represents a 38.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,036 shares of company stock worth $2,017,364 over the last ninety days. 0.45% of the stock is owned by company insiders.

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.