7 Best Car Stocks To Invest In Now

5. BorgWarner Inc. (NYSE:BWA)

Number of Hedge Fund Holders: 41

BorgWarner Inc. (NYSE:BWA) is a provider of solutions for combustion, hybrid, and electric vehicles. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, and more.

Considering the fact that BorgWarner Inc. (NYSE:BWA) has a tech-focused portfolio of products, it has managed to perform well in the second quarter. Its gross margin came in at 10.4%, up 30 basis points year-over-year, and it has also raised its full-year margin outlook to 9.6%-9.8% from 9.2%-9.6% previously, based on its year-to-date performance.

Many investors are following BorgWarner Inc. (NYSE:BWA) because of its recent expansion of its EV and hybrid product offerings under the company’s “Charging Forward” initiative. Through this, BorgWarner Inc. (NYSE:BWA) is attempting to capture a sizable portion of the rapidly growing EV market, with company management targeting $10 billion in annual Product sales by 2027.

BorgWarner Inc. (NYSE:BWA) has also recently made some acquisitions, namely of Eldor and Hubei Surpass Sun Electric Charging, as part of its ambitious efforts to gain a larger market share of the EV space. Through these acquisitions, the company is expected to enhance its capabilities in power electronics and charging infrastructure.

We saw 41 hedge funds long BorgWarner Inc. (NYSE:BWA) in the second quarter, with a total stake value of $725.5 million. Harris Associates was the largest shareholder, holding 10,623,235 shares.