Billionaire Ray Dalio is Dumping These 5 Stocks

3. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 74

Number of Shares Owned by Ray Dalio’s Fund in Q2: 289.19K

The largest automaker in the United States, General Motors Company (NYSE:GM) is an American multinational automotive manufacturing company headquartered in Detroit, Michigan.

On October 26, Deutsche Bank analyst Emmanuel Rosner lowered the price target on General Motors Company (NYSE:GM) to $35 from $36 and kept a Hold rating on the shares of the company. In a research note to investors, Rosner stated that General Motors’ “solid” Q3 beat leaves the company on track to reach the mid-point of its reiterated fiscal year EBIT guidance.

General Motors Company (NYSE:GM)’s largest investor in our database of 920 hedge funds is Warren Buffett’s Berkshire Hathaway which owns 50 million shares that are worth approximately $1.6 billion.

Oakmark Funds, an investment management firm, has released its first-quarter 2022 investor letter and mentioned General Motors Company (NYSE:GM). Here is what the fund said:

“General Motors (NYSE:GM) was a detractor during the quarter, due to increased macro uncertainty, higher fuel prices, and concerns over rising input costs, which pressured the company in particular and the auto industry as a whole. While we are closely monitoring the potential impact of these dynamics, industry demand remains robust, driven by strong consumer balance sheets and pent-up demand after multiple years of constrained production. We also remain confident in GM’s ability to navigate a complex operating environment, which the company has consistently demonstrated over the past few years. Finally, the long-term picture remains bright. We believe GM is significantly undervalued, is well-positioned for the long-term transition to electric vehicles and has numerous needle-moving ancillary business opportunities (most notably Cruise, which is an industry leader in autonomous vehicle technology) that are underappreciated.”