5 Best Stocks to Buy According to Chris James’ Engine No. 1

3. General Motors Company (NYSE: GM)

James’ Stake Value: $21,117,000
Percentage of Chris James’ 13F Portfolio: 7.75%
Number of Hedge Fund Holders: 86

General Motors Company (NYSE: GM) ranks 3rd on the list of 10 best stocks to buy according to Chris James’ Engine No. 1. Since 1908, the Detroit-based automaker has been producing cars, trucks, SUVs, and automobile parts all around the world. Among the brands General Motors Company owns are GMC, Chevrolet, Baojun, Buick, and Cadillac. The old car manufacturer said on June 16 that it has increased its investment in electrified and autonomous vehicles to $35 billion through 2025, up from $27 billion anticipated in November 2020. GM stock has returned more than 123% to investors in the past twelve months. 

The company has a market cap of $85 billion. The company’s first-quarter revenue came in at $32.5 billion, down from $32.7 billion in the first quarter of 2020. As of June 18, General Motors Company (NYSE: GM) shares trade at $58.76. The 52-week price range of GM is $23.33 – 64.30. On June 6, Barclays maintained an Overweight rating on General Motors Company, with a price target of $70 per share. 

Chris James’ Engine No. 1 recently added General Motors Company (NYSE: GM) in its portfolio where it owns 367,500 shares in the company worth $21 million, representing 7.75% of the fund’s investment portfolio. At the end of the first quarter of 2021, 86 hedge funds in the database of Insider Monkey held stakes worth $8.05 billion in General Motors Company (NYSE: GM), up from 70 the preceding quarter worth $6.33 billion. 

Like Exxon Mobil Corporation (NYSE: XOM), Deere & Company (NYSE: DE), and Microsoft Corporation (NASDAQ: MSFT), General Motors Company (NYSE: GM) is one of the best stocks to buy according to Chris James’ Engine No. 1.