5 Most Undervalued Auto Stocks to Buy According to Hedge Funds

2. Ford Motor Company (NYSE:F)

Latest P/E Ratio: 6.82

Number of Hedge Fund Holders: 43

Dearborn, Michigan-based Ford Motor Company (NYSE:F) is a global automobile manufacturing company that offers trucks, sport utility vehicles commercial vans and cars and Lincoln luxury vehicles, as well as connected services. The company was founded in 1903 and has since grown significantly. It currently employs more than 186,000 personnel worldwide.

On November 2, Ford Motor Company (NYSE:F) released its sales figures for the month of October. The company managed to sell nearly 0.15 million vehicles during the month, including 6,831 electric vehicles. Even though electric vehicles and hybrid vehicles sales increased on a year-over-year basis, the decline in internal combustion vehicles sales led to an overall year-over-year decline of 5%.

As of Q3 2023, 43 of the elite hedge funds tracked by Insider Monkey held Ford Motor Company (NYSE:F) shares, valued at $1.3 billion. Ken Fisher’s Fisher Asset Management was its largest hedge fund shareholder with ownership of 55.6 million shares valued at $691 million.