Acadian Asset Management LLC has increased its stake in Ford Motor Company (NYSE:F) by 22.4% during the first quarter of 2023, according to its latest 13F filing with the U.S. Securities and Exchange Commission. The institutional investor now holds a total of 176,177 shares of the automotive giant, following the acquisition of an additional 32,290 shares during the reporting period. As of the most recent filing, Acadian’s holdings in Ford are valued at approximately $1.77 million.
Several other institutional investors have also adjusted their positions in Ford. Notably, Grove Bank & Trust raised its stake by an impressive 289.1%, now owning 2,533 shares worth around $25,000 after acquiring an additional 1,882 shares in the last quarter. Additionally, Elite Financial Inc. established a new position valued at about $27,000, while Olde Wealth Management LLC and MorganRosel Wealth Management LLC entered new positions valued at approximately $28,000 and $30,000, respectively. Wood Tarver Financial Group LLC also bought in during the fourth quarter, contributing an investment of around $31,000. Overall, institutional investors control approximately 58.74% of Ford’s stock.
Ford’s Financial Performance and Analyst Insights
On the stock market, Ford’s share price opened at $11.61 on Wednesday, with the company boasting a market capitalization of $46.21 billion. The automotive manufacturer has a price-to-earnings (P/E) ratio of 14.88 and a price-to-earnings-growth (PEG) ratio of 3.36. Ford’s financial metrics also include a debt-to-equity ratio of 2.24 and a quick ratio of 0.95. The company’s fifty-day moving average stands at $11.47, while the 200-day moving average is $10.63. Ford’s stock has fluctuated significantly over the past year, with a 52-week low of $8.44 and a high of $11.99.
Ford reported its latest earnings results on July 30, 2023, revealing earnings of $0.37 per share, exceeding analysts’ expectations of $0.33 by $0.04. The company generated revenue of $50.18 billion for the quarter, again surpassing the forecast of $42.91 billion. Compared to the same quarter last year, Ford’s quarterly revenue climbed by 5.0%, although earnings per share decreased from $0.47 in the prior year.
Analysts are optimistic about Ford’s future performance, predicting an earnings per share of $1.47 for the current year.
Dividend Announcements and Analyst Ratings
Recently, Ford declared a quarterly dividend of $0.15 per share, which was paid on September 2, 2023. This dividend translates to an annualized figure of $0.60, representing a yield of 5.2%. The company’s payout ratio is currently at 76.92%.
Several financial research firms have offered their perspectives on Ford’s stock. On July 21, 2023, JPMorgan Chase & Co. raised its price target for Ford from $12.00 to $13.00, maintaining an “overweight” rating. Conversely, Dbs Bank downgraded Ford from a “hold” to a “moderate sell” rating on August 4, 2023. In other reports, Barclays adjusted its price target from $9.00 to $11.00, while Royal Bank of Canada increased its target from $10.00 to $11.00. Collectively, two analysts have rated Ford as a “buy,” twelve have issued “hold” ratings, and three have assigned a “sell” label, leading to a consensus rating of “reduce” with an average price target of $10.53, according to MarketBeat.
In insider trading news, Andrew Frick, an insider at Ford, sold 30,000 shares at an average price of $11.00 in a transaction dated July 1, 2023. The total transaction value was $330,000, reducing Frick’s ownership by 20.84%. Following this sale, he holds 113,939 shares valued at approximately $1.25 million. Currently, corporate insiders own 0.48% of Ford’s stock.
Ford Motor Company develops and services a diverse range of vehicles, including trucks, commercial cars, and luxury vehicles, operating globally through various segments such as Ford Blue, Ford Model e, and Ford Pro. The company sells its products through a network of distributors, dealers, and commercial fleet customers, as well as directly to government entities.
As institutional investment in Ford continues to evolve, the company remains a focal point for analysts and investors alike, with its recent financial performance and strategic adjustments drawing significant attention.
