Bank of New York Mellon Corp Purchases 7,238,424 Shares of Ford Motor Company $F

Bank of New York Mellon Corp grew its position in Ford Motor Company (NYSE:F) by 32.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,342,420 shares of the auto manufacturer’s stock after acquiring an additional 7,238,424 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ford Motor were worth $318,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Ford Motor by 13.8% in the first quarter. Vanguard Group Inc. now owns 457,660,361 shares of the auto manufacturer’s stock valued at $4,590,333,000 after purchasing an additional 55,576,478 shares in the last quarter. Pacer Advisors Inc. raised its stake in Ford Motor by 6,915.1% during the first quarter. Pacer Advisors Inc. now owns 49,078,048 shares of the auto manufacturer’s stock valued at $492,253,000 after purchasing an additional 48,378,444 shares in the last quarter. Nuveen LLC bought a new position in Ford Motor during the first quarter valued at $123,147,000. Charles Schwab Investment Management Inc. lifted its position in Ford Motor by 8.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 140,053,906 shares of the auto manufacturer’s stock valued at $1,404,741,000 after purchasing an additional 10,947,527 shares during the last quarter. Finally, Aberdeen Group plc grew its stake in shares of Ford Motor by 150.6% in the 1st quarter. Aberdeen Group plc now owns 7,264,106 shares of the auto manufacturer’s stock worth $72,169,000 after buying an additional 4,365,125 shares in the last quarter. 58.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on F shares. JPMorgan Chase & Co. upped their target price on shares of Ford Motor from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Ford Motor in a research note on Tuesday, October 14th. Piper Sandler raised their price objective on Ford Motor from $9.50 to $11.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Citigroup lifted their target price on Ford Motor from $11.00 to $13.50 and gave the stock a “neutral” rating in a report on Monday, October 27th. Finally, Wall Street Zen upgraded Ford Motor from a “sell” rating to a “hold” rating in a report on Sunday, July 20th. Two research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Ford Motor presently has a consensus rating of “Hold” and an average price target of $11.73.

Ford Motor Trading Down 1.7%

Shares of F opened at $12.79 on Wednesday. The firm has a market capitalization of $50.94 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 4.03 and a beta of 1.53. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 0.98. Ford Motor Company has a 1-year low of $8.44 and a 1-year high of $13.97. The company has a 50-day moving average of $12.06 and a 200 day moving average of $11.27.

Ford Motor (NYSE:F) last issued its earnings results on Thursday, October 23rd. The auto manufacturer reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Ford Motor had a net margin of 2.48% and a return on equity of 11.94%. The business had revenue of $50.53 billion for the quarter, compared to the consensus estimate of $43.08 billion. During the same period in the prior year, the firm earned $0.49 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts expect that Ford Motor Company will post 1.47 EPS for the current year.

Ford Motor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, November 7th. Ford Motor’s dividend payout ratio is currently 51.72%.

Ford Motor Company Profile

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.