Ford Motor (F) Shares Sold by Summit Securities Group LLC
Summit Securities Group LLC reduced its stake in Ford Motor (NYSE:F) by 56.7% in the 1st quarter, Holdings Channel reports. The firm owned 38,100 shares of the auto manufacturer’s stock after selling 49,900 shares during the period. Summit Securities Group LLC’s holdings in Ford Motor were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently made changes to their positions in F. Cornerstone Advisors Inc. raised its position in Ford Motor by 38.2% during the 1st quarter. Cornerstone Advisors Inc. now owns 3,802 shares of the auto manufacturer’s stock worth $33,000 after buying an additional 1,051 shares during the last quarter. Boenning & Scattergood Inc. grew its stake in shares of Ford Motor by 6.6% during the 1st quarter. Boenning & Scattergood Inc. now owns 17,259 shares of the auto manufacturer’s stock worth $152,000 after purchasing an additional 1,063 shares during the period. Berman Capital Advisors LLC grew its stake in shares of Ford Motor by 46.6% during the 1st quarter. Berman Capital Advisors LLC now owns 3,553 shares of the auto manufacturer’s stock worth $31,000 after purchasing an additional 1,130 shares during the period. Acorn Wealth Advisors LLC grew its stake in shares of Ford Motor by 2.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 41,616 shares of the auto manufacturer’s stock worth $388,000 after purchasing an additional 1,156 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Ford Motor by 2.0% during the 4th quarter. Van ECK Associates Corp now owns 61,662 shares of the auto manufacturer’s stock worth $472,000 after purchasing an additional 1,185 shares during the period. 52.73% of the stock is owned by hedge funds and other institutional investors.
In other Ford Motor news, Director John C. Lechleiter bought 10,000 shares of the stock in a transaction on Friday, May 10th. The shares were bought at an average price of $10.32 per share, with a total value of $103,200.00. Following the purchase, the director now directly owns 55,000 shares in the company, valued at approximately $567,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Catherine A. O’callaghan sold 53,000 shares of Ford Motor stock in a transaction on Monday, April 29th. The stock was sold at an average price of $10.33, for a total transaction of $547,490.00. Following the sale, the vice president now directly owns 48,275 shares in the company, valued at approximately $498,680.75. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.
Ford Motor (NYSE:F) last released its quarterly earnings results on Thursday, April 25th. The auto manufacturer reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.18. Ford Motor had a net margin of 1.94% and a return on equity of 14.41%. The firm had revenue of $40.34 billion for the quarter, compared to analysts’ expectations of $37.37 billion. During the same quarter last year, the company earned $0.43 EPS. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. Sell-side analysts predict that Ford Motor will post 1.38 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, April 24th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $0.60 dividend on an annualized basis and a yield of 6.09%. Ford Motor’s dividend payout ratio is currently 46.15%.
A number of equities research analysts have recently commented on the stock. Jefferies Financial Group raised shares of Ford Motor to a “buy” rating and raised their price objective for the stock from $11.00 to $12.50 in a research note on Tuesday, April 30th. Zacks Investment Research raised shares of Ford Motor from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective on the stock in a research note on Tuesday, April 30th. ValuEngine raised shares of Ford Motor from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Citigroup reaffirmed a “reduce” rating on shares of Ford Motor in a research note on Wednesday, April 10th. Finally, Nomura cut shares of Ford Motor from a “neutral” rating to a “reduce” rating and dropped their price objective for the stock from $8.20 to $7.50 in a research note on Friday, April 5th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Ford Motor presently has an average rating of “Hold” and a consensus price target of $10.48.
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Ford Motor Company Profile
Ford Motor Company designs, manufactures, markets, and services a range of Ford cars, trucks, sport utility vehicles, and electrified vehicles worldwide. It operates through three segments: Automotive, Mobility, and Ford Credit. The Automotive segment 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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