Top 5 Value Stocks to Buy for 2024 (Picked by Joel Greenblatt)

4. BorgWarner Inc. (NYSE:BWA)

Number of Hedge Fund Holders: 25
Price to Earnings Ratio: 8.76

BorgWarner Inc. (NYSE:BWA) is a consumer cyclical play that provides solutions for combustion hybrid and electric vehicles worldwide. BorgWarner Inc. (NYSE:BWA) mostly deals in turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology and smart remote actuators.

BorgWarner Inc. (NYSE:BWA) has gained about 2% year to date and trades at a price-to-earnings multiple of 8.76 and a yield of 1.23%. As one of the top value stocks to buy for 2024, picked by Joel Greenblatt, Gotham Assets Management increased its stake by 162% in Q3 2023 to $11.27 million.

There were 25 hedge funds long BorgWarner Inc. (NYSE:BWA) in the third quarter, with a total stake value of $338.53 million.

In its first-quarter 2023 investor letter, Ariel Investments said the following about BorgWarner Inc. (NYSE:BWA):

“Several stocks in the portfolio had strong returns in the quarter. Leading supplier of solutions for combustion, hybrid and electric vehicles BorgWarner Inc. (NYSE:BWA) increased following a top- and bottom-line earnings beat, as well as a solid financial guidance for 2023, despite foreign currency headwinds. Meanwhile, BWA continues to successfully execute on its Charging Forward initiative and remains on track to deliver $4 billion in electric vehicle sales by 2025. In our view, BWA’s electric motor and driveline technology offerings position the company to grow intrinsic value throughout the evolution in the hybrid and electric vehicles market.”

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