5 Best Undervalued Automobile Stocks to Buy Now

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In this article, we will look at 5 best undervalued automobile stocks to buy now. If you want to read our detailed analysis of the automobile industry, you can go to 10 Best Undervalued Automobile Stocks to Buy Now.

5. Honda Motor Co Ltd (NYSE:HMC)

PE Ratio as of July 8: 8.00

Number of Hedge Fund Holders: 12

This June, Honda Motor Corporation (NYSE: HMC) announced that it has formed a strategic partnership with Sony Group Corporation (NYSE:SONY) by which they will jointly develop, manufacture, and sell high-value-added electric vehicles and provide services for mobility. Both companies plan to form a new company dedicated to their joint EV venture in 2022 and expect the company to be fully operational by 2025.

As of July 8, Honda Motor Corporation (NYSE:HMC) has a trailing-twelve-month PE ratio of 8.00 and is offering a forward dividend yield of 5.78%.

At the end of Q1 2022, 12 hedge funds held stakes in Honda Motor Corporation (NYSE:HMC) worth $317.34 million. This is compared to 10 positions in the preceding quarter with stakes worth $327.80 million.

In the first quarter of 2022, Ken Fisher’s Fisher Asset Management raised its stakes in Honda Motor Corporation (NYSE:HMC) by 6%, bringing them to $243.21 million. Fisher Asset Management is the largest shareholder in the company as of Q1 2022.

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