Acadian Asset Management LLC has boosted its investment in Ford Motor Company by 22.4% during the first quarter of 2023, according to its recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor now holds a total of 176,177 shares, having acquired an additional 32,290 shares during this period. The value of Acadian’s holdings in Ford is approximately $1.766 million.
Other institutional investors have also adjusted their positions in Ford. Notably, Grove Bank & Trust increased its stake by a remarkable 289.1% during the same quarter, now owning 2,533 shares valued at around $25,000. Additionally, several firms such as Elite Financial Inc., Olde Wealth Management LLC, MorganRosel Wealth Management LLC, and Wood Tarver Financial Group LLC have entered new positions in Ford, with investments ranging from $27,000 to $31,000. Overall, institutional investors control 58.74% of Ford’s stock.
Ford’s Market Performance and Recent Financial Results
On Wednesday, Ford’s shares opened at $11.61. The company currently boasts a market capitalization of $46.21 billion and has a price-to-earnings (P/E) ratio of 14.88. Key financial metrics include a price-to-earnings-growth (PEG) ratio of 3.36, a debt-to-equity ratio of 2.24, a quick ratio of 0.95, and a current ratio of 1.10. Over the past year, Ford’s stock has fluctuated between a low of $8.44 and a high of $11.99.
In its latest earnings report released on July 30, 2023, Ford reported earnings of $0.37 per share, surpassing analysts’ expectations of $0.33 by $0.04. The company generated revenue of $50.18 billion, significantly exceeding the consensus estimate of $42.91 billion. Ford’s return on equity stood at 12.46%, with a net margin of 1.70%. This represents a 5.0% increase in quarterly revenue compared to the same period last year, despite earnings per share falling from $0.47 in the previous year.
Dividends and Analyst Ratings
Ford also announced a quarterly dividend of $0.15 per share, which was paid on September 2, 2023. The ex-dividend date was set for August 11, 2023, resulting in an annualized dividend yield of 5.2%. The company’s payout ratio currently stands at 76.92%.
Recent analyst reports reflect varying perspectives on Ford’s stock. On July 21, 2023, JPMorgan Chase & Co. raised its price target from $12.00 to $13.00 while maintaining an “overweight” rating. Conversely, Dbs Bank downgraded Ford from a “hold” to a “moderate sell” rating on August 4, 2023. Other analysts, including Barclays and Royal Bank of Canada, have also adjusted their price targets, indicating a mixed sentiment among market experts. Currently, Ford has received a consensus rating of “Reduce” and an average price target of $10.53.
In insider trading news, Andrew Frick, a company insider, sold 30,000 shares on July 1, 2023, at an average price of $11.00 per share, totaling $330,000. Following this transaction, Frick retains 113,939 shares valued at approximately $1.253 million, reflecting a 20.84% decrease in ownership. Currently, insiders hold 0.48% of Ford’s outstanding shares.
Ford Motor Company, headquartered in Dearborn, Michigan, designs, manufactures, and sells a variety of vehicles, including trucks, cars, and SUVs, through its Ford Blue, Ford Model e, Ford Pro; Ford Next; and Ford Credit segments. The company markets its products through a network of distributors and dealers globally, catering to individual consumers and commercial clients alike.