Royal London Asset Management Ltd. Decreases Stake in Ford Motor (NYSE:F)
Royal London Asset Management Ltd. reduced its stake in shares of Ford Motor (NYSE:F) by 2.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,508,961 shares of the auto manufacturer’s stock after selling 41,471 shares during the period. Royal London Asset Management Ltd.’s holdings in Ford Motor were worth $15,429,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Mizuho Securities Co. Ltd. acquired a new position in shares of Ford Motor during the 2nd quarter worth $123,000. Aperio Group LLC raised its stake in Ford Motor by 15.9% in the 2nd quarter. Aperio Group LLC now owns 1,916,848 shares of the auto manufacturer’s stock valued at $19,609,000 after purchasing an additional 262,402 shares during the last quarter. UMB Bank N A MO raised its stake in Ford Motor by 15.4% in the 2nd quarter. UMB Bank N A MO now owns 45,904 shares of the auto manufacturer’s stock valued at $469,000 after purchasing an additional 6,133 shares during the last quarter. Great Valley Advisor Group Inc. raised its stake in Ford Motor by 416.5% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 106,552 shares of the auto manufacturer’s stock valued at $1,089,000 after purchasing an additional 85,923 shares during the last quarter. Finally, Investment Partners LTD. acquired a new position in Ford Motor in the 2nd quarter valued at about $175,000. Institutional investors own 52.11% of the company’s stock.
F traded up $0.05 during midday trading on Tuesday, hitting $9.34. The company’s stock had a trading volume of 13,627,711 shares, compared to its average volume of 47,158,856. The company has a current ratio of 1.20, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $37.70 billion, a price-to-earnings ratio of 7.19, a P/E/G ratio of 1.01 and a beta of 1.13. The firm has a 50-day simple moving average of $9.92. Ford Motor has a 52-week low of $7.41 and a 52-week high of $10.56.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, July 23rd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 6.42%. The ex-dividend date is Monday, July 22nd. Ford Motor’s dividend payout ratio (DPR) is 46.15%.
In other news, insider James D. Farley, Jr. sold 45,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $9.56, for a total transaction of $430,200.00. Following the completion of the sale, the insider now owns 541,753 shares in the company, valued at approximately $5,179,158.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman William Clay Ford, Jr. bought 840,962 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were purchased at an average price of $9.51 per share, with a total value of $7,997,548.62. Following the acquisition, the chairman now directly owns 1,100,617 shares in the company, valued at approximately $10,466,867.67. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 861,162 shares of company stock valued at $8,193,611 and sold 115,000 shares valued at $1,137,650. 0.83% of the stock is owned by insiders.
Several research analysts recently weighed in on F shares. BMO Capital Markets boosted their target price on shares of Ford Motor from $8.50 to $10.00 and gave the company a “market perform” rating in a research note on Monday, May 6th. Credit Suisse Group started coverage on shares of Ford Motor in a research note on Wednesday, June 26th. They issued an “outperform” rating and a $13.00 target price for the company. Zacks Investment Research raised shares of Ford Motor from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a research note on Tuesday, April 30th. Morgan Stanley raised shares of Ford Motor from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $10.00 to $12.00 in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group raised shares of Ford Motor to a “buy” rating and boosted their target price for the company from $11.00 to $12.50 in a research note on Tuesday, April 30th. Four analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $10.48.
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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