Ford Motor Company $F Stake Lessened by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors reduced its Ford stake by 19.1% in the third quarter, selling 101,898 shares and retaining 431,900 shares valued at approximately $5.2 million. Institutional investors collectively own 58.74% of Ford’s stock.
• Analyst sentiment remains mixed, with seven Buy, ten Hold, and two Sell ratings; Ford has an average rating of “Hold” and an average price target of $15.02.
• Ford exceeded quarterly earnings expectations, reporting $0.49 EPS versus the $0.41 consensus and $49.53 billion in revenue. The company also declared a quarterly dividend of $0.15 per share, representing a 4.8% annualized yield.

Hennessy Advisors Inc. lessened its stake in shares of Ford Motor Company (NYSE:F - Free Report) by 19.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 431,900 shares of the auto manufacturer's stock after selling 101,898 shares during the quarter. Hennessy Advisors Inc.'s holdings in Ford Motor were worth $5,209,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in F. BlackRock Inc. acquired a new stake in Ford Motor in the second quarter worth approximately $4,649,131,000. State Street Corp increased its position in shares of Ford Motor by 0.8% during the 2nd quarter. State Street Corp now owns 194,039,770 shares of the auto manufacturer's stock valued at $2,697,153,000 after purchasing an additional 1,492,186 shares during the period. Bank of America Corp DE increased its position in shares of Ford Motor by 318.0% during the 2nd quarter. Bank of America Corp DE now owns 72,424,686 shares of the auto manufacturer's stock valued at $1,006,703,000 after purchasing an additional 55,100,244 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Ford Motor during the 2nd quarter valued at $717,218,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Ford Motor by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 47,442,901 shares of the auto manufacturer's stock worth $547,379,000 after buying an additional 1,585,557 shares in the last quarter. Institutional investors and hedge funds own 58.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Ford Motor from $17.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, October 12th. Zacks Research lowered Ford Motor from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Piper Sandler boosted their price target on shares of Ford Motor from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. DZ Bank raised shares of Ford Motor from a "sell" rating to a "hold" rating and set a $16.00 price target for the company in a report on Friday, July 31st. Finally, Barclays raised their price objective on shares of Ford Motor from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Ford Motor currently has an average rating of "Hold" and an average target price of $15.02.

Ford Motor Stock Up 2.6%

Shares of Ford Motor stock opened at $12.57 on Tuesday. The stock's fifty day moving average is $12.86 and its 200-day moving average is $13.36. The firm has a market capitalization of $50.12 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 0.25 and a beta of 1.93. The company has a quick ratio of 0.93, a current ratio of 1.09 and a debt-to-equity ratio of 3.07. Ford Motor Company has a 12-month low of $11.11 and a 12-month high of $17.78.

Ford Motor (NYSE:F - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The auto manufacturer reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.08. The business had revenue of $49.53 billion during the quarter, compared to analyst estimates of $49.08 billion. Ford Motor had a positive return on equity of 18.96% and a negative net margin of 4.17%. Ford Motor's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $0.45 EPS. Equities analysts anticipate that Ford Motor Company will post 1.90 earnings per share for the current year.

Ford Motor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.60 dividend on an annualized basis and a yield of 4.8%. Ford Motor's dividend payout ratio is currently -30.46%.

About Ford Motor

Ford Motor Co is an American automobile manufacturer founded in 1903 by Henry Ford and headquartered in Dearborn, Michigan. The company helped popularize mass automobile production and is known for brands including Ford and Lincoln.

Ford develops, manufactures and sells cars, trucks, sport utility vehicles, commercial vehicles and electric vehicles. Its product portfolio includes the F-Series pickup trucks, Transit commercial vans, Mustang sports cars and a range of utility vehicles. The company also provides vehicle software, connected services, fleet solutions, maintenance and other support services.

Ford operates through Ford Blue, which focuses on gasoline- and hybrid-powered vehicles; Model e, which develops electric vehicles and related technologies; and Ford Pro, which serves commercial and fleet customers.

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