Steele Capital Management Inc. reduced its stake in shares of Ford Motor (NYSE:F – Free Report) by 11.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 17,539 shares of the auto manufacturer’s stock after selling 2,296 shares during the quarter. Steele Capital Management Inc.’s holdings in Ford Motor were worth $233,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of F. Algert Global LLC acquired a new position in Ford Motor during the third quarter worth $190,000. Alpine Global Management LLC acquired a new stake in shares of Ford Motor in the third quarter valued at $3,147,000. Teza Capital Management LLC acquired a new stake in shares of Ford Motor in the third quarter valued at $518,000. Sherbrooke Park Advisers LLC increased its stake in shares of Ford Motor by 17.1% in the third quarter. Sherbrooke Park Advisers LLC now owns 50,920 shares of the auto manufacturer’s stock valued at $632,000 after buying an additional 7,443 shares in the last quarter. Finally, Ancora Advisors LLC increased its stake in shares of Ford Motor by 5.1% in the third quarter. Ancora Advisors LLC now owns 160,575 shares of the auto manufacturer’s stock valued at $1,994,000 after buying an additional 7,811 shares in the last quarter. 58.74% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Ford Motor
In other news, Director Jon M. Huntsman, Jr. sold 81,234 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $12.09, for a total transaction of $982,119.06. Following the completion of the transaction, the director now directly owns 168,601 shares in the company, valued at $2,038,386.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.40% of the company’s stock.
Ford Motor Trading Up 1.8 %
Ford Motor (NYSE:F – Get Free Report) last posted its earnings results on Wednesday, April 24th. The auto manufacturer reported $0.49 EPS for the quarter, beating the consensus estimate of $0.42 by $0.07. The firm had revenue of $42.78 billion during the quarter, compared to the consensus estimate of $42.93 billion. Ford Motor had a return on equity of 17.63% and a net margin of 2.21%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. On average, equities analysts predict that Ford Motor will post 2.02 EPS for the current fiscal year.
Ford Motor Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 8th were given a $0.15 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $0.60 annualized dividend and a yield of 4.70%. Ford Motor’s dividend payout ratio is presently 61.86%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on F. Piper Sandler started coverage on Ford Motor in a research report on Friday, March 15th. They issued a “neutral” rating and a $13.00 price objective for the company. UBS Group lifted their price objective on Ford Motor from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Barclays lifted their price objective on Ford Motor from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Citigroup boosted their target price on Ford Motor from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada boosted their target price on Ford Motor from $12.00 to $13.00 and gave the stock a “sector perform” rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ford Motor currently has a consensus rating of “Hold” and an average target price of $13.89.
Check Out Our Latest Analysis on Ford Motor
Ford Motor Profile
Ford Motor Company develops, delivers, and services a range of Ford trucks, commercial cars and vans, sport utility vehicles, and Lincoln luxury vehicles worldwide. It operates through Ford Blue, Ford Model e, and Ford Pro; Ford Next; and Ford Credit segments. The company sells Ford and Lincoln vehicles, service parts, and accessories through distributors and dealers, as well as through dealerships to commercial fleet customers, daily rental car companies, and governments.
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