Dorsey & Whitney Trust CO LLC Has $690,000 Stock Position in Ferrari (NYSE:RACE)

Dorsey & Whitney Trust CO LLC boosted its position in shares of Ferrari (NYSE:RACE) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,624 shares of the company’s stock after purchasing an additional 35 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Ferrari were worth $690,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RACE. Hanson & Doremus Investment Management acquired a new stake in shares of Ferrari in the fourth quarter worth about $26,000. Planning Capital Management Corp acquired a new stake in shares of Ferrari in the third quarter worth about $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of Ferrari in the third quarter worth about $33,000. Armstrong Advisory Group Inc. lifted its position in shares of Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after buying an additional 50 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Ferrari in the fourth quarter worth about $45,000.

Ferrari Trading Up 0.8 %

Shares of RACE opened at $450.14 on Monday. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $109.10 billion, a price-to-earnings ratio of 49.20, a P/E/G ratio of 4.43 and a beta of 0.94. The stock’s 50-day moving average price is $452.18 and its 200 day moving average price is $456.73.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. This represents a yield of 0.5%. This is a positive change from Ferrari’s previous annual dividend of $2.44. The ex-dividend date of this dividend is Wednesday, April 23rd. Ferrari’s payout ratio is currently 5.63%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RACE shares. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating for the company. Barclays lowered Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Finally, StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Ferrari currently has an average rating of “Moderate Buy” and an average price target of $507.14.

Ferrari Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.