PNC Financial Services Group Inc. Acquires 199,299 Shares of Ford Motor Company $F

PNC Financial Services Group Inc. boosted its stake in shares of Ford Motor Company (NYSE:F) by 16.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,393,595 shares of the auto manufacturer’s stock after buying an additional 199,299 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ford Motor were worth $15,121,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Ford Motor by 13.8% during the 1st quarter. Vanguard Group Inc. now owns 457,660,361 shares of the auto manufacturer’s stock valued at $4,590,333,000 after purchasing an additional 55,576,478 shares during the period. Pacer Advisors Inc. raised its stake in Ford Motor by 6,915.1% during the first quarter. Pacer Advisors Inc. now owns 49,078,048 shares of the auto manufacturer’s stock worth $492,253,000 after buying an additional 48,378,444 shares during the last quarter. Nuveen LLC acquired a new position in Ford Motor in the first quarter valued at $123,147,000. Charles Schwab Investment Management Inc. boosted its position in Ford Motor by 8.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 140,053,906 shares of the auto manufacturer’s stock valued at $1,404,741,000 after acquiring an additional 10,947,527 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Ford Motor by 32.7% during the second quarter. Bank of New York Mellon Corp now owns 29,342,420 shares of the auto manufacturer’s stock valued at $318,365,000 after acquiring an additional 7,238,424 shares during the last quarter. 58.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on F. Wells Fargo & Company lifted their price objective on Ford Motor from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Friday, October 24th. Piper Sandler increased their price target on Ford Motor from $9.50 to $11.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of Ford Motor from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Dbs Bank downgraded shares of Ford Motor from a “hold” rating to a “moderate sell” rating in a research report on Monday, August 4th. Finally, Weiss Ratings raised shares of Ford Motor from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.73.

Ford Motor Stock Down 0.6%

Ford Motor stock opened at $13.20 on Friday. The firm has a market capitalization of $52.58 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 4.03 and a beta of 1.60. The firm’s fifty day moving average price is $12.30 and its two-hundred day moving average price is $11.43. Ford Motor Company has a 1-year low of $8.44 and a 1-year high of $13.97. The company has a current ratio of 1.12, a quick ratio of 0.98 and a debt-to-equity ratio of 2.20.

Ford Motor (NYSE:F) last issued its earnings results on Thursday, October 23rd. The auto manufacturer reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.07. The firm had revenue of $50.53 billion for the quarter, compared to analyst estimates of $43.08 billion. Ford Motor had a return on equity of 11.94% and a net margin of 2.48%.The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. On average, equities research analysts predict that Ford Motor Company will post 1.47 earnings per share for the current fiscal year.

Ford Motor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, November 7th. Ford Motor’s payout ratio is currently 51.72%.

Ford Motor Company 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.