5 Best EV Battery Stocks To Buy in Late 2023

2. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 72

General Motors, officially known as the General Motors Company (NYSE:GM), is a multinational automotive manufacturing company with its headquarters in Detroit, Michigan, United States. As of November 19, the automotive manufacturer issues a quarterly dividend of $0.09 per share, resulting in a dividend yield of 1.26%.

By the end of this year’s second quarter, 72 of the 910 hedge funds part of Insider Monkey’s database had also bought General Motors Company (NYSE:GM)’s shares. The largest investor is Nativism Global Asset Management’s Harris Associates through a $1.49 billion investment.

Patient Capital Opportunity Equity Strategy made the following comment about General Motors Company (NYSE:GM) in its Q2 2023 investor letter:

“We like other names mostly ignored by the market for similar reasons. Names like Expedia (EXPE), General Motors Company (NYSE:GM), and Delta Air Lines. These companies have strong returns on capital (14%+), good competitive positions, cheap valuations (all double-digit free cash flow yields), and are returning capital to shareholders. We trust the managements to take advantage of their depressed stock prices and create long-term shareholder value.”