Sanctuary Wealth CIO: these two ‘boring’ stocks are now a ‘buy’


Sanctuary Wealth CIO: these two ‘boring’ stocks are now a ‘buy’ | Invezz

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Wajeeh Khan

May 6, 2022

Jeff Kilburg explains why he likes Illinois Tool Works and BorgWarner.

ITW board declared a per-share quarterly dividend of $1.22 on Friday.

BorgWarner Inc expects it EV revenue to more than double this year.

U.S. equities remained volatile on Friday, closing down 4.0% from the weekly high. Amidst the turmoil, the Sanctuary Wealth CIO says the following two “boring” stocks now look like exciting buys.

The first name that pops out to Jeff Kilburg is Illinois Tool Works Inc, which climbed above its 50-day moving average on Friday. This afternoon on CNBC’s “Power Lunch”, he said:

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Here’s a name that topped first-quarter earnings by about 2.0% estimates. We also saw the sales beat by about 4.0%. Only being out 15% year-to-date, I think this industrial name has the ability to move up.

Kilburg agreed that the stock was relatively expensive than peer John Deere on a forward PE basis, but reiterated that he likes the stock and owns it at present. ITW declared a per-share quarterly dividend of $1.22 today.

Another name that he hasn’t yet bought but is interested in is BorgWarner Inc, down nearly 25% from its year-to-date high. Speaking with CNBC’s Tyler Mathisen, Kilburg noted:

This is a leading auto supplier and we have certainly seen a lot of car market inflation. They are going into electric vehicles. So, they’re doing a couple things and there’s reason to dig into a consumer typical like BorgWarner.

Borg Warner expects its EV revenue to hit $3.30 billion by 2025. For the current year, it sees over $800 million in EV revenue that represents a year-over-year growth of more than 100%.

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