Corebridge Financial Inc. Sells 28,945 Shares of Ford Motor Company $F

Key Points

• Corebridge Financial Inc. reduced its stake in Ford Motor Company by 3.2%, owning 868,187 shares worth $8.7 million after selling 28,945 shares in the first quarter.
• Ford reported $0.37 EPS for the last quarter, exceeding analysts' expectations and achieving a 5% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.15 per share, reflecting a 5.1% dividend yield, to be paid to stockholders on September 2nd.

Corebridge Financial Inc. cut its stake in shares of Ford Motor Company (NYSE:F - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 868,187 shares of the auto manufacturer's stock after selling 28,945 shares during the quarter. Corebridge Financial Inc.'s holdings in Ford Motor were worth $8,708,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Grove Bank & Trust boosted its stake in shares of Ford Motor by 289.1% during the 1st quarter. Grove Bank & Trust now owns 2,533 shares of the auto manufacturer's stock worth $25,000 after acquiring an additional 1,882 shares in the last quarter. Elite Financial Inc. bought a new stake in shares of Ford Motor during the 1st quarter worth $27,000. Olde Wealth Management LLC bought a new stake in shares of Ford Motor during the 1st quarter worth $28,000. MorganRosel Wealth Management LLC bought a new stake in shares of Ford Motor during the 1st quarter worth $30,000. Finally, Spurstone Advisory Services LLC bought a new stake in shares of Ford Motor during the 4th quarter worth $31,000. 58.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Ford Motor news, insider Andrew Frick sold 30,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $11.00, for a total transaction of $330,000.00. Following the transaction, the insider directly owned 113,939 shares in the company, valued at $1,253,329. This trade represents a 20.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by company insiders.

Ford Motor Stock Up 0.7%

Shares of NYSE:F traded up $0.09 during midday trading on Friday, hitting $11.80. 44,049,553 shares of the stock were exchanged, compared to its average volume of 55,666,488. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.95 and a current ratio of 1.10. Ford Motor Company has a 52-week low of $8.44 and a 52-week high of $11.99. The business's fifty day simple moving average is $11.36 and its two-hundred day simple moving average is $10.43. The company has a market capitalization of $46.94 billion, a PE ratio of 15.12, a P/E/G ratio of 3.35 and a beta of 1.48.

Ford Motor (NYSE:F - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The auto manufacturer reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.04. Ford Motor had a return on equity of 12.46% and a net margin of 1.70%.The business had revenue of $50.18 billion during the quarter, compared to analyst estimates of $42.91 billion. During the same period last year, the company earned $0.47 earnings per share. Ford Motor's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts predict that Ford Motor Company will post 1.47 earnings per share for the current fiscal year.

Ford Motor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 5.1%. The ex-dividend date is Monday, August 11th. Ford Motor's dividend payout ratio (DPR) is 76.92%.

Analysts Set New Price Targets

F has been the subject of several research reports. Wall Street Zen raised Ford Motor from a "sell" rating to a "hold" rating in a research note on Sunday, July 20th. Barclays lifted their price target on Ford Motor from $9.00 to $11.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. increased their price objective on Ford Motor from $12.00 to $13.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Citigroup raised their price objective on Ford Motor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, UBS Group upped their target price on Ford Motor from $9.00 to $11.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Two research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $10.53.

About Ford Motor

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.