In a notable move within the automotive sector, Geode Capital Management LLC has increased its stake in Ford Motor Company (NYSE:F) by 2.5% during the fourth quarter, as revealed in its recent Form 13F filing with the Securities and Exchange Commission (SEC). Following the acquisition of an additional 2,089,127 shares, Geode now holds a total of 84,078,284 shares, representing approximately 2.12% of Ford’s outstanding stock, valued at around $830.66 million.
This increase in ownership reflects a broader trend among institutional investors who are actively buying and selling shares of Ford. For instance, the Public Sector Pension Investment Board raised its stake by 9.5% in the third quarter, now owning 167,712 shares valued at $1.77 million after purchasing an additional 14,600 shares. Similarly, Rockefeller Capital Management L.P. increased its position by 4.3%, acquiring 11,248 shares to reach a total of 270,298 shares worth $2.86 million.
Captrust Financial Advisors also expanded its stake by 7.4%, now holding 345,362 shares valued at $3.65 million after acquiring 23,717 shares. Erste Asset Management GmbH entered the scene with a new stake worth $1.56 million, while Benjamin Edwards Inc. made headlines with a staggering 2,092.8% increase in its stake, now owning 98,959 shares valued at $1.05 million after acquiring an additional 94,446 shares. Collectively, hedge funds and institutional investors currently own 58.74% of Ford’s stock.
On the trading front, Ford Motor’s shares experienced a slight uptick of 0.4%, reaching $9.58 during midday trading on Friday. The trading volume was notably high, with 177,348,152 shares changing hands, significantly surpassing the average volume of 67,049,201. Ford’s market capitalization stands at $37.95 billion, with a price-to-earnings ratio of 6.56 and a PEG ratio of 0.61. The stock has shown volatility, with a 52-week low of $9.06 and a high of $14.85.
Ford recently reported its quarterly earnings, revealing an earnings per share (EPS) of $0.39, exceeding analysts’ expectations of $0.35 by $0.04. The company boasts a return on equity of 16.88% and a net margin of 3.18%. Analysts predict that Ford will post an EPS of 1.47 for the current year, indicating a positive outlook for the automotive giant.
In addition to its financial performance, Ford has also declared a quarterly dividend of $0.15 per share, which was paid on March 3rd. This translates to an annualized dividend of $0.60, yielding 6.27%. The ex-dividend date was February 18th, and Ford’s current dividend payout ratio stands at 41.10%.
Analyst sentiment surrounding Ford has been mixed, with several recent upgrades and downgrades. BNP Paribas upgraded Ford to a “hold” rating, while Royal Bank of Canada lowered its target price from $10.00 to $9.00, maintaining a “sector perform” rating. TD Cowen initiated coverage with a “hold” rating and a $10.00 target price. Meanwhile, JPMorgan Chase & Co. reduced its price target from $13.00 to $11.00, maintaining an “overweight” rating. Overall, Ford currently holds a consensus rating of “Hold” with an average price target of $11.37, according to MarketBeat.com.
As institutional investors continue to show confidence in Ford Motor, the company appears poised for potential growth in the competitive automotive landscape. With a solid financial foundation and a commitment to innovation, Ford remains a key player to watch in the coming months.
