Summit Securities Group LLC Sells 79,079 Shares of Ford Motor Company $F

Key Points

• Summit Securities Group LLC cut its Ford Motor stake by 92.9% in the first quarter, selling 79,079 shares and leaving it with just 6,045 shares valued at about $70,000.
• Ford stock was up 2.8% to $13.99, with the company carrying a market cap of $55.77 billion and trading near its 50-day and 200-day moving averages.
• Ford reported better-than-expected Q1 earnings of $0.66 per share on revenue of $43.25 billion, and it also paid a quarterly dividend of $0.15 per share, or $0.60 annualized for a 4.3% yield.

Summit Securities Group LLC lessened its holdings in Ford Motor Company (NYSE:F - Free Report) by 92.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,045 shares of the auto manufacturer's stock after selling 79,079 shares during the period. Summit Securities Group LLC's holdings in Ford Motor were worth $70,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of F. Norges Bank purchased a new position in shares of Ford Motor in the 4th quarter worth approximately $674,437,000. SBI Okasan Asset Management Co.Ltd. purchased a new stake in Ford Motor during the 4th quarter valued at $1,769,000. TD Asset Management Inc lifted its position in Ford Motor by 11.0% in the fourth quarter. TD Asset Management Inc now owns 1,908,234 shares of the auto manufacturer's stock worth $25,036,000 after buying an additional 189,310 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Ford Motor by 2.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,345,131 shares of the auto manufacturer's stock worth $57,008,000 after buying an additional 103,423 shares during the last quarter. Finally, World Investment Advisors lifted its position in Ford Motor by 222.5% in the fourth quarter. World Investment Advisors now owns 125,292 shares of the auto manufacturer's stock worth $1,644,000 after buying an additional 86,445 shares during the last quarter. Hedge funds and other institutional investors own 58.74% of the company's stock.

Ford Motor Trading Up 2.8%

Ford Motor stock traded up $0.39 during mid-day trading on Friday, hitting $13.99. The company's stock had a trading volume of 47,055,402 shares, compared to its average volume of 47,879,128. The company has a 50 day moving average of $14.10 and a 200-day moving average of $13.38. The stock has a market cap of $55.77 billion, a PE ratio of -9.03, a P/E/G ratio of 0.30 and a beta of 1.82. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.94 and a current ratio of 1.09. Ford Motor Company has a one year low of $10.68 and a one year high of $17.78.

Ford Motor (NYSE:F - Get Free Report) last released its earnings results on Wednesday, April 29th. The auto manufacturer reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.48. The business had revenue of $43.25 billion during the quarter, compared to the consensus estimate of $42.66 billion. Ford Motor had a positive return on equity of 15.77% and a negative net margin of 3.22%.The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share. On average, research analysts anticipate that Ford Motor Company will post 1.64 EPS for the current year.

Ford Motor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 4.3%. Ford Motor's dividend payout ratio (DPR) is presently -38.71%.

Wall Street Analyst Weigh In

F has been the topic of a number of analyst reports. The Goldman Sachs Group boosted their price objective on shares of Ford Motor from $13.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, June 11th. Citigroup raised their target price on shares of Ford Motor from $13.00 to $19.00 and gave the stock a "neutral" rating in a report on Monday, June 1st. Barclays lifted their price target on shares of Ford Motor from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Thursday. Morgan Stanley reiterated an "equal weight" rating and set a $14.00 price target on shares of Ford Motor in a report on Wednesday, May 13th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Ford Motor in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $14.77.

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.

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