Resona Asset Management Co. Ltd. Sells 93,478 Shares of Ford Motor Company $F

Resona Asset Management Co. Ltd. reduced its position in Ford Motor Company (NYSE:F) by 6.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,259,552 shares of the auto manufacturer’s stock after selling 93,478 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Ford Motor were worth $14,463,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in F. Caxton Associates LLP purchased a new position in shares of Ford Motor in the first quarter worth $304,000. Empowered Funds LLC boosted its position in shares of Ford Motor by 41.6% during the first quarter. Empowered Funds LLC now owns 147,760 shares of the auto manufacturer’s stock valued at $1,482,000 after buying an additional 43,385 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Ford Motor during the second quarter valued at $172,000. NewEdge Advisors LLC increased its holdings in Ford Motor by 26.3% in the 2nd quarter. NewEdge Advisors LLC now owns 267,895 shares of the auto manufacturer’s stock worth $2,907,000 after buying an additional 55,741 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in Ford Motor by 1.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 1,823,614 shares of the auto manufacturer’s stock worth $19,786,000 after buying an additional 26,526 shares in the last quarter. 58.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on F shares. Citigroup upped their target price on shares of Ford Motor from $13.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, June 1st. TD Cowen reduced their price target on shares of Ford Motor from $14.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, May 1st. Wall Street Zen raised shares of Ford Motor from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. The Goldman Sachs Group increased their price objective on shares of Ford Motor from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Finally, Bank of America increased their price objective on shares of Ford Motor from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ford Motor presently has a consensus rating of “Hold” and an average target price of $14.77.

Ford Motor Stock Performance

Ford Motor stock traded up $0.39 during mid-day trading on Friday, reaching $13.99. 47,055,402 shares of the stock traded hands, compared to its average volume of 47,879,128. The stock has a market capitalization of $55.77 billion, a PE ratio of -9.03, a price-to-earnings-growth ratio of 0.30 and a beta of 1.82. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.09 and a quick ratio of 0.94. Ford Motor Company has a 12-month low of $10.68 and a 12-month high of $17.78. The business’s 50-day moving average is $14.10 and its 200-day moving average is $13.38.

Ford Motor (NYSE:F) last announced its earnings results on Wednesday, April 29th. The auto manufacturer reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.48. The business had revenue of $43.25 billion for the quarter, compared to analysts’ expectations of $42.66 billion. Ford Motor had a positive return on equity of 15.77% and a negative net margin of 3.22%.The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $0.14 earnings per share. As a group, sell-side analysts predict that Ford Motor Company will post 1.64 EPS for the current fiscal year.

Ford Motor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.3%. Ford Motor’s dividend payout ratio (DPR) is presently -38.71%.

About Ford Motor

Ford Motor Company (NYSE: F) is an American multinational automaker headquartered in Dearborn, Michigan. Founded by Henry Ford in 1903, the company became an early pioneer of mass-production techniques with the Model T and the adoption of the moving assembly line. Today, Ford designs, manufactures, markets and services a broad range of vehicles and mobility solutions under the Ford and Lincoln brands, spanning passenger cars, SUVs, pickup trucks and commercial vehicles.

Ford’s business activities extend beyond vehicle production to include parts and aftermarket services, fleet and commercial sales, and automotive financing through Ford Motor Credit Company.