Texas Permanent School Fund Corp Trims Stock Position in Ford Motor (NYSE:F)

Texas Permanent School Fund Corp cut its holdings in Ford Motor (NYSE:F) by 0.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 806,165 shares of the auto manufacturer’s stock after selling 5,117 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Ford Motor were worth $10,706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in Ford Motor in the 4th quarter worth about $475,899,000. Coatue Management LLC bought a new position in Ford Motor during the 4th quarter valued at about $149,152,000. Newport Trust Company LLC lifted its stake in Ford Motor by 4.5% during the 4th quarter. Newport Trust Company LLC now owns 155,177,214 shares of the auto manufacturer’s stock valued at $1,891,610,000 after acquiring an additional 6,667,808 shares during the period. Fisher Asset Management LLC lifted its stake in Ford Motor by 6.3% during the 4th quarter. Fisher Asset Management LLC now owns 59,152,154 shares of the auto manufacturer’s stock valued at $721,065,000 after acquiring an additional 3,522,965 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in Ford Motor by 1,084.8% during the 4th quarter. International Assets Investment Management LLC now owns 2,696,966 shares of the auto manufacturer’s stock valued at $32,876,000 after acquiring an additional 2,469,344 shares during the period. 58.74% of the stock is owned by hedge funds and other institutional investors.

Ford Motor Stock Up 2.5 %

Ford Motor stock traded up $0.34 during trading hours on Friday, reaching $13.81. The stock had a trading volume of 8,814,026 shares, compared to its average volume of 50,285,773. The company has a market cap of $55.13 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 0.85 and a beta of 1.62. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.17 and a quick ratio of 0.99. The business’s 50 day moving average price is $12.26 and its 200-day moving average price is $12.30. Ford Motor has a 52 week low of $9.63 and a 52 week high of $15.28.

Ford Motor (NYSE:F) last announced its earnings results on Wednesday, April 24th. The auto manufacturer reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. The business had revenue of $42.78 billion during the quarter, compared to the consensus estimate of $42.93 billion. Ford Motor had a net margin of 2.21% and a return on equity of 17.63%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. Sell-side analysts anticipate that Ford Motor will post 2.02 EPS for the current year.

Ford Motor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 8th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.60 annualized dividend and a dividend yield of 4.34%. Ford Motor’s dividend payout ratio (DPR) is currently 61.86%.

Insider Activity

In related news, Director Jon M. Huntsman, Jr. sold 81,234 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $12.09, for a total value of $982,119.06. Following the sale, the director now owns 168,601 shares in the company, valued at $2,038,386.09. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on F. Citigroup increased their price objective on shares of Ford Motor from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Sanford C. Bernstein began coverage on shares of Ford Motor in a research note on Thursday, May 23rd. They issued an “outperform” rating and a $16.00 price objective on the stock. UBS Group increased their price objective on shares of Ford Motor from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Piper Sandler began coverage on shares of Ford Motor in a research note on Friday, March 15th. They issued a “neutral” rating and a $13.00 price objective on the stock. Finally, Barclays increased their price objective on shares of Ford Motor from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Ford Motor has a consensus rating of “Hold” and a consensus price target of $14.09.

About Ford Motor

Ford Motor Company develops, delivers, and services a range of Ford trucks, commercial cars and vans, sport utility vehicles, and Lincoln luxury vehicles worldwide. It operates through Ford Blue, Ford Model e, and Ford Pro; Ford Next; and Ford Credit segments. The company sells Ford and Lincoln vehicles, service parts, and accessories through distributors and dealers, as well as through dealerships to commercial fleet customers, daily rental car companies, and governments.