Should You Add General Motors Company (GM) For a Long-Term Return?

ClearBridge Investments, an investment management company, released its “ClearBridge Dividend Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy underperformed the S&P 500 benchmark index. Only the materials sector contributed positively to the strategy’s performance among the 11 sectors. IT and communication services sectors were the major detractors in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Investments highlighted stocks like General Motors Company (NYSE:GM) in the Q3 2022 investor letter. Headquartered in Detroit, Michigan, General Motors Company (NYSE:GM) is an automobile company. On November 4, 2022, General Motors Company (NYSE:GM) stock closed at $39.00 per share. One-month return of General Motors Company (NYSE:GM) was 19.00% and its shares lost 33.36% of their value over the last 52 weeks. General Motors Company (NYSE:GM) has a market capitalization of $55.407 billion.

ClearBridge Investments made the following comment about General Motors Company (NYSE:GM) in its Q3 2022 investor letter:

“A volatile market can offer attractive opportunities to the patient investor, and we have our pencils sharpened for good entry points in favored companies. In the third quarter we added General Motors Company (NYSE:GM), finding shares overly discounted due to skepticism over earnings in a down cycle. While a slowing economy will clearly impact automotive demand, inventories and production are well below long-term averages, mitigating the risk of cyclical declines. Further, the company is at a technological inflection point we believe is underappreciated as it readies several electric vehicle product launches and scales its automated vehicle offering, Cruise.”

General Motors Company (NYSE:GM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 75 hedge fund portfolios held General Motors Company (NYSE:GM) at the end of the second quarter, which was 76 in the previous quarter.

We discussed General Motors Company (NYSE:GM) in another article and shared the biggest electric car companies in the world. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.