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

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.

Illinois Tool Works Inc (NYSE: ITW)

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:

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.

BorgWarner Inc (NYSE: BWA)

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:

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%.