Sawgrass Asset Management LLC Reduces Holdings in Ford Motor (NYSE:F)

Sawgrass Asset Management LLC reduced its stake in shares of Ford Motor (NYSE:F) by 67.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,278 shares of the auto manufacturer’s stock after selling 86,113 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Ford Motor were worth $503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mackenzie Financial Corp grew its position in Ford Motor by 110.5% during the 3rd quarter. Mackenzie Financial Corp now owns 700,928 shares of the auto manufacturer’s stock worth $8,460,000 after purchasing an additional 367,977 shares during the last quarter. IFM Investors Pty Ltd increased its position in Ford Motor by 3.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 801,514 shares of the auto manufacturer’s stock valued at $9,955,000 after acquiring an additional 26,212 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Ford Motor by 1.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,216,588 shares of the auto manufacturer’s stock worth $27,530,000 after acquiring an additional 35,580 shares during the period. Affinity Investment Advisors LLC purchased a new position in shares of Ford Motor in the 3rd quarter valued at approximately $318,000. Finally, Advisor Partners II LLC increased its holdings in shares of Ford Motor by 4.2% in the third quarter. Advisor Partners II LLC now owns 99,383 shares of the auto manufacturer’s stock valued at $1,234,000 after purchasing an additional 3,964 shares during the period. 58.74% of the stock is owned by hedge funds and other institutional investors.

Ford Motor Trading Down 2.7 %

F traded down $0.34 on Tuesday, reaching $12.17. 48,048,330 shares of the company’s stock were exchanged, compared to its average volume of 53,955,992. Ford Motor has a twelve month low of $9.63 and a twelve month high of $15.42. The company’s 50 day moving average is $12.65 and its 200-day moving average is $11.81. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.99 and a current ratio of 1.17. The company has a market cap of $48.57 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 0.84 and a beta of 1.61.

Ford Motor (NYSE:F) last announced its quarterly earnings results on Wednesday, April 24th. The auto manufacturer reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.07. The firm had revenue of $42.78 billion during the quarter, compared to the consensus estimate of $42.93 billion. Ford Motor had a return on equity of 17.63% and a net margin of 2.21%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. Equities analysts predict that Ford Motor will post 1.94 earnings per share for the current year.

Ford Motor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 8th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Tuesday, May 7th. Ford Motor’s payout ratio is 61.86%.

Insider Buying and Selling

In other news, CAO Mark Kosman sold 26,898 shares of Ford Motor stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $12.53, for a total transaction of $337,031.94. Following the sale, the chief accounting officer now directly owns 7,102 shares of the company’s stock, valued at $88,988.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group increased their target price on Ford Motor from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Morgan Stanley upped their price target on shares of Ford Motor from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Piper Sandler initiated 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 for the company. Redburn Atlantic assumed coverage on shares of Ford Motor in a research report on Wednesday, January 24th. They set a “sell” rating and a $10.00 target price on the stock. Finally, Barclays lifted their price target on shares of Ford Motor from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.74.

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.