Ford Motor Co. (F) Shares Sold by Essex Financial Services Inc.
Essex Financial Services Inc. reduced its stake in shares of Ford Motor Co. (NYSE:F) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 55,207 shares of the auto manufacturer’s stock after selling 591 shares during the period. Essex Financial Services Inc.’s holdings in Ford Motor were worth $694,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Mount Lucas Management LP boosted its stake in Ford Motor by 60.3% in the first quarter. Mount Lucas Management LP now owns 1,885,747 shares of the auto manufacturer’s stock valued at $25,458,000 after buying an additional 709,103 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Ford Motor by 1.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,838,615 shares of the auto manufacturer’s stock valued at $78,821,000 after buying an additional 72,800 shares during the period. Legal & General Group Plc boosted its stake in Ford Motor by 3.3% in the first quarter. Legal & General Group Plc now owns 18,761,433 shares of the auto manufacturer’s stock valued at $253,250,000 after buying an additional 597,065 shares during the period. Natixis boosted its stake in Ford Motor by 1,101.7% in the first quarter. Natixis now owns 4,883,711 shares of the auto manufacturer’s stock valued at $65,930,000 after buying an additional 4,477,314 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in Ford Motor by 38.8% in the first quarter. Nuveen Asset Management LLC now owns 2,147,045 shares of the auto manufacturer’s stock valued at $28,986,000 after buying an additional 600,568 shares during the period. Institutional investors and hedge funds own 56.06% of the company’s stock.
Shares of Ford Motor Co. (NYSE:F) traded up 0.08% during trading on Tuesday, reaching $11.89. The company had a trading volume of 39,911,254 shares. The stock has a market capitalization of $47.24 billion, a price-to-earnings ratio of 5.61 and a beta of 1.27. The stock has a 50 day moving average of $12.22 and a 200 day moving average of $12.83. Ford Motor Co. has a 52-week low of $11.02 and a 52-week high of $15.84.
Ford Motor (NYSE:F) last announced its earnings results on Thursday, July 28th. The auto manufacturer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.60 by $0.08. The business had revenue of $39.50 million for the quarter, compared to analyst estimates of $36.29 billion. Ford Motor had a net margin of 5.35% and a return on equity of 30.49%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. Equities research analysts forecast that Ford Motor Co. will post $1.82 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, October 27th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, October 25th. This represents a $0.60 annualized dividend and a dividend yield of 5.05%. Ford Motor’s dividend payout ratio is presently 29.27%.
F has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their target price on Ford Motor from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, July 29th. Deutsche Bank AG reissued a “hold” rating and set a $13.00 target price on shares of Ford Motor in a research note on Friday, September 16th. Barclays PLC reissued an “equal weight” rating and set a $12.00 target price on shares of Ford Motor in a research note on Monday, September 12th. Vetr raised Ford Motor from a “buy” rating to a “strong-buy” rating and set a $14.18 target price for the company in a research note on Monday, June 27th. Finally, Goldman Sachs Group Inc. set a $15.00 target price on Ford Motor and gave the stock a “buy” rating in a research note on Thursday, July 7th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $14.06.
In other news, insider Sankar S. Nair sold 82,000 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $12.11, for a total transaction of $993,020.00. Following the completion of the sale, the insider now directly owns 32,969 shares in the company, valued at $399,254.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Lechleiter bought 5,000 shares of the stock in a transaction dated Monday, August 8th. The shares were acquired at an average price of $12.26 per share, with a total value of $61,300.00. Following the completion of the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at $306,500. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.
Ford Motor Company Profile
Ford Motor Company (Ford) is a global automotive and mobility company. The Company’s principal business includes designing, manufacturing, marketing, financing, and servicing a line of Ford cars, trucks, sports utility vehicles (SUVs), and electrified vehicles, as well as Lincoln luxury vehicles. The Company operates in two sectors: Automotive and Financial Services.
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