Patton Fund Management Inc. has recently acquired a new position in Ford Motor Company (NYSE:F – Free Report) during the second quarter, as disclosed in its latest Form 13F filing with the Securities and Exchange Commission. The fund purchased 21,940 shares of the auto manufacturer, valued at approximately $238,000.
In addition to Patton Fund Management, several other hedge funds and institutional investors have adjusted their stakes in Ford. For instance, Wedmont Private Capital increased its position by 3.0% in the second quarter, now holding 31,593 shares valued at $374,000 after acquiring an additional 934 shares. Similarly, Meriwether Wealth & Planning LLC raised its stake by 6.9%, owning 15,186 shares worth $165,000 after purchasing 985 shares. Atlas Capital Advisors Inc. also boosted its holdings by 21.2% in the first quarter, now owning 5,665 shares valued at $57,000. Silver Oak Securities Incorporated increased its holdings by 2.4% in the second quarter, owning 43,775 shares worth $475,000 after acquiring 1,013 shares. Finally, Kovack Advisors Inc. grew its position by 1.7% in the first quarter, now holding 62,199 shares valued at $624,000. Overall, institutional investors and hedge funds own 58.74% of Ford’s stock.
Analysts Set New Price Targets
Recent commentary from research analysts has influenced the outlook for Ford shares. Barclays raised its price target from $9.00 to $11.00, maintaining an “equal weight” rating as of July 16th. Conversely, Dbs Bank downgraded Ford from a “hold” to a “moderate sell” rating on August 4th. Royal Bank of Canada also lifted its price target from $10.00 to $11.00, assigning a “sector perform” rating on August 5th. Jefferies Financial Group increased its target from $8.00 to $9.00, giving the stock an “underperform” rating on August 11th. Lastly, JPMorgan Chase & Co. raised its price target from $12.00 to $13.00, rating the stock as “overweight” on July 21st. Currently, two analysts have rated the stock as a Buy, eleven as Hold, and three as Sell, resulting in an average rating of “Reduce” and a price target of $10.43 according to MarketBeat.
Check Out Our Latest Stock Analysis on F
Ford Motor Trading Up 3.4%
On Monday, shares of F opened at $12.02. The company has a current ratio of 1.10, a quick ratio of 0.95, and a debt-to-equity ratio of 2.24. With a market cap of $47.84 billion, the stock has a PE ratio of 15.41, a PEG ratio of 3.45, and a beta of 1.52. Over the past year, Ford’s stock has seen a low of $8.44 and a high of $12.32, with a 50-day simple moving average of $11.49 and a 200-day simple moving average of $10.75.
Ford Motor (NYSE:F – Get Free Report) recently announced its quarterly earnings on July 30th, reporting an EPS of $0.37, surpassing the consensus estimate of $0.33 by $0.04. The company achieved a return on equity of 12.46% and a net margin of 1.70%, with revenue of $50.18 billion for the quarter, exceeding analyst estimates of $42.91 billion. This represents a 5.0% increase in revenue year-over-year, with analysts predicting an EPS of 1.47 for the current fiscal year.
Ford Motor Dividend Announcement
Additionally, Ford recently declared a quarterly dividend, which was paid on September 2nd. Stockholders of record on August 11th received a dividend of $0.15, resulting in an annualized dividend of $0.60 and a yield of 5.0%. The company’s dividend payout ratio currently stands at 76.92%.
Insider Activity
In related news, insider Andrew Frick sold 30,000 shares of Ford stock on July 1st at an average price of $11.00, totaling $330,000. Following this transaction, Frick owns 113,939 shares valued at approximately $1,253,329, marking a 20.84% decrease in his position. This sale was disclosed in a document filed with the SEC, available at this hyperlink. Company insiders currently own 0.48% of the stock.
About Ford Motor
Ford Motor Company develops, delivers, and services a variety of vehicles, including trucks, commercial cars, vans, SUVs, and Lincoln luxury vehicles globally. The company operates through several segments, including Ford Blue, Ford Model e, Ford Pro, Ford Next, and Ford Credit, selling vehicles and parts through distributors, dealers, and directly to commercial fleet customers and governments.
Further Reading
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