Freestone Grove Partners LP Takes $24.94 Million Position in Ford Motor Company $F

Key Points

• Freestone Grove Partners acquired 1.79 million Ford shares worth approximately $24.94 million in the second quarter. Institutional investors and hedge funds collectively own 58.74% of Ford’s stock.
• Ford reported quarterly EPS of $0.42, beating estimates of $0.33, while revenue reached $48.30 billion, up from expectations but down 3.8% year over year.
• Ford declared a quarterly dividend of $0.15, equivalent to an annualized $0.60 payout and a 4.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $15.68.

Freestone Grove Partners LP bought a new position in shares of Ford Motor Company (NYSE:F - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,794,490 shares of the auto manufacturer's stock, valued at approximately $24,943,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Ford Motor during the 2nd quarter valued at $4,649,131,000. Bank of New York Mellon Corp bought a new position in Ford Motor during the second quarter valued at about $717,218,000. Norges Bank acquired a new position in Ford Motor during the fourth quarter worth about $674,437,000. Deutsche Bank AG bought a new stake in Ford Motor in the second quarter worth about $267,563,000. Finally, Marshall Wace LLP lifted its holdings in 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 acquiring an additional 15,866,285 shares during the last quarter. 58.74% of the stock is currently owned by institutional investors and hedge funds.

Ford Motor Price Performance

F stock opened at $13.96 on Friday. Ford Motor Company has a one year low of $11.11 and a one year high of $17.78. The firm has a 50-day moving average of $14.09 and a two-hundred day moving average of $13.51. The firm has a market capitalization of $55.65 billion, a PE ratio of -7.46, a P/E/G ratio of 0.29 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 released its quarterly earnings results on Tuesday, July 28th. The auto manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.09. Ford Motor had a negative net margin of 3.93% and a positive return on equity of 17.23%. The business had revenue of $48.30 billion for the quarter, compared to analyst estimates of $47.24 billion. During the same quarter in the previous year, the business earned $0.37 earnings per share. The firm's revenue was down 3.8% compared to the same quarter last year. On average, analysts forecast that Ford Motor Company will post 1.86 earnings per share for the current year.

Ford Motor Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Ford Motor from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Thursday, June 25th. Barclays boosted their target price on shares of Ford Motor from $13.00 to $14.00 and gave the stock an "equal weight" rating in a report on Thursday, July 9th. Wall Street Zen cut shares of Ford Motor from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. The Goldman Sachs Group lifted their price target on shares of Ford Motor from $13.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, June 11th. Finally, UBS Group upped their price target on Ford Motor from $14.00 to $17.00 and gave the company a "buy" rating in a report on Monday, June 8th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ford Motor currently has an average rating of "Hold" and a consensus price target of $15.68.

Ford Motor 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source