Benin Management CORP has reduced its stake in Ford Motor Company (NYSE: F) by 5.9% during the second quarter of 2023, as reported by Holdings Channel.com. The institutional investor now holds 32,007 shares of the automobile manufacturer after selling 2,000 shares in the period. At the end of the most recent reporting period, Benin Management CORP’s investment in Ford was valued at approximately $347,000.
Several other institutional investors have also adjusted their positions in Ford. Exencial Wealth Advisors LLC increased its stake by 13.4% in the same quarter, bringing its total to 22,411 shares, worth around $243,000 after acquiring an additional 2,646 shares. Similarly, Brookstone Capital Management raised its holding by 1.0%, now owning 1,232,780 shares valued at approximately $13.4 million.
BTS Asset Management Inc. entered the market with a new stake worth $151,000, while D.A. Davidson & CO. also grew its position by 1.0%, owning 222,338 shares valued at $2.4 million. Additionally, Advantage Trust Co. purchased a new stake worth $41,000. Collectively, institutional investors own 58.74% of Ford’s stock.
Ford’s Financial Metrics and Recent Performance
On the trading front, Ford’s shares opened at $12.57 on Wednesday. Over the past year, the stock has seen a low of $8.44 and a high of $12.80. The company has a market capitalization of $50.03 billion, a debt-to-equity ratio of 2.24, and a current ratio of 1.10. Ford’s price-to-earnings ratio stands at 16.12, with a price-to-earnings-growth ratio of 3.49 and a beta of 1.53. The stock has a 50-day moving average of $11.77 and a 200-day moving average of $10.98.
In addition to its stock performance, Ford has announced a quarterly dividend of $0.15 per share, which was paid on September 2, 2023. Shareholders of record on August 11 received a total annualized dividend of $0.60, translating to a dividend yield of 4.8%. The dividend payout ratio is currently 76.92%.
Analyst Ratings and Market Sentiment
Recent evaluations from various brokerages reflect a range of opinions on Ford’s future. Dbs Bank has downgraded Ford from a “hold” to a “moderate sell” rating. Meanwhile, Jefferies Financial Group upgraded Ford from “underperform” to “hold,” increasing its price target from $9.00 to $12.00. Barclays also raised its target price from $9.00 to $11.00 while maintaining an “equal weight” rating.
JPMorgan Chase & Co. shifted its target price from $13.00 to $14.00, assigning an “overweight” rating. In contrast, Piper Sandler increased its target from $9.00 to $9.50 with a “neutral” rating. Overall, analysts have rated Ford with two “Buy” ratings, thirteen “Hold” ratings, and two “Sell” ratings, yielding a consensus rating of “Hold” with a target price of $11.11 based on data from MarketBeat.
Ford Motor Company, known for developing and servicing a diverse range of vehicles, operates through segments including Ford Blue, Ford Model e, and Ford Pro; Ford Next; and Ford Credit. The company markets both Ford and Lincoln vehicles, along with service parts and accessories, to a wide array of customers, including commercial fleet operators and government agencies.
