Econ Financial Services Corp Buys Shares of 208,640 Ford Motor (NYSE:F)

Econ Financial Services Corp purchased a new position in Ford Motor (NYSE:F) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 208,640 shares of the auto manufacturer’s stock, valued at approximately $2,066,000. Ford Motor makes up approximately 1.2% of Econ Financial Services Corp’s portfolio, making the stock its 28th largest holding.

A number of other hedge funds have also recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Ford Motor during the second quarter worth $27,000. Hager Investment Management Services LLC purchased a new position in Ford Motor during the 4th quarter worth $26,000. Reston Wealth Management LLC acquired a new position in Ford Motor during the 3rd quarter valued at about $33,000. Access Investment Management LLC purchased a new stake in Ford Motor in the third quarter valued at about $34,000. Finally, Modus Advisors LLC acquired a new stake in Ford Motor in the fourth quarter worth about $34,000. 58.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on F shares. Wolfe Research reissued an “underperform” rating on shares of Ford Motor in a research report on Thursday, December 5th. Jefferies Financial Group cut Ford Motor from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $12.00 to $9.00 in a research note on Monday, December 16th. Barclays downgraded shares of Ford Motor from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $13.00 to $11.00 in a report on Wednesday, January 22nd. Sanford C. Bernstein lowered shares of Ford Motor from an “outperform” rating to a “market perform” rating and set a $11.00 price target for the company. in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Ford Motor from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.82.

Ford Motor Stock Performance

F opened at $10.16 on Wednesday. The firm has a market capitalization of $40.36 billion, a PE ratio of 11.54, a PEG ratio of 1.96 and a beta of 1.63. The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 2.34. Ford Motor has a twelve month low of $9.49 and a twelve month high of $14.85. The firm’s 50-day moving average price is $10.16 and its 200 day moving average price is $10.62.

Ford Motor Profile

Ford Motor Company develops, delivers, and services a range of Ford trucks, commercial cars and vans, sport utility vehicles, and Lincoln luxury vehicles worldwide. It operates through Ford Blue, Ford Model e, and Ford Pro; Ford Next; and Ford Credit segments. The company 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.