Ford Motor Company $F Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn cut its Ford stake by 60.8% in the second quarter, selling 4.23 million shares and retaining 2.73 million shares worth approximately $37.9 million. Institutional investors collectively own 58.74% of Ford.
• Ford reported quarterly earnings of $0.42 per share, beating estimates of $0.33, while revenue of $48.3 billion exceeded expectations but declined 3.8% year over year.
• Ford declared a quarterly dividend of $0.15, equivalent to a 4.3% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $15.68, compared with shares trading near $13.93.

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Ford Motor Company (NYSE:F - Free Report) by 60.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,727,205 shares of the auto manufacturer's stock after selling 4,228,754 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Ford Motor worth $37,908,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Ford Motor in the second quarter worth approximately $4,649,131,000. Bank of New York Mellon Corp acquired a new stake in shares of Ford Motor in the second quarter valued at $717,218,000. Norges Bank acquired a new stake in shares of Ford Motor in the fourth quarter valued at $674,437,000. Deutsche Bank AG purchased a new stake in shares of Ford Motor in the 2nd quarter valued at $267,563,000. Finally, Marshall Wace LLP raised its holdings in shares of Ford Motor by 81.1% in the 3rd quarter. Marshall Wace LLP now owns 35,438,722 shares of the auto manufacturer's stock valued at $423,847,000 after buying an additional 15,866,285 shares during the period. Hedge funds and other institutional investors own 58.74% of the company's stock.

Ford Motor Price Performance

Shares of F opened at $13.93 on Tuesday. Ford Motor Company has a twelve month low of $11.11 and a twelve month high of $17.78. The firm's fifty day simple moving average is $14.10 and its 200-day simple moving average is $13.51. The firm has a market capitalization of $55.53 billion, a price-to-earnings ratio of -7.45, a PEG ratio of 0.30 and a beta of 1.82. The company has a current ratio of 1.09, a quick ratio of 0.93 and a debt-to-equity ratio of 3.07.

Ford Motor (NYSE:F - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The auto manufacturer reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.09. The company had revenue of $48.30 billion for the quarter, compared to analysts' expectations of $47.24 billion. Ford Motor had a positive return on equity of 17.23% and a negative net margin of 3.93%.Ford Motor's quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. Equities analysts forecast that Ford Motor Company will post 1.86 EPS for the current fiscal year.

Ford Motor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, August 11th. Ford Motor's dividend payout ratio is -32.09%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. TD Cowen raised their target price on Ford Motor from $13.00 to $15.00 and gave the company a "hold" rating in a report on Wednesday, July 29th. Weiss Ratings reiterated a "buy (b)" rating on shares of Ford Motor in a research note on Wednesday, June 24th. BNP Paribas Exane increased their price target on shares of Ford Motor from $14.00 to $14.50 and gave the stock a "neutral" rating in a research report on Thursday, July 30th. The Goldman Sachs Group lifted their price objective on shares of Ford Motor from $13.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, June 11th. Finally, DZ Bank raised shares of Ford Motor from a "sell" rating to a "hold" rating and set a $16.00 target price on the stock in a research note on Friday, July 31st. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $15.68.

Ford Motor Company Profile

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.

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