Morgan Stanley set a $12.00 price objective on Ford Motor (NYSE:F) in a research note issued to investors on Wednesday morning, TipRanks reports. The brokerage currently has a buy rating on the auto manufacturer’s stock.
Other research analysts also recently issued research reports about the stock. Bank of America downgraded shares of Ford Motor to a buy rating and set a $13.00 target price on the stock. in a research report on Tuesday, September 10th. TheStreet downgraded shares of Ford Motor from a b- rating to a c rating in a research report on Friday, July 26th. ValuEngine downgraded shares of Ford Motor from a sell rating to a strong sell rating in a research report on Wednesday, September 4th. Credit Suisse Group downgraded shares of Ford Motor to an outperform rating and set a $12.00 price objective on the stock. in a research report on Wednesday, September 11th. Finally, Goldman Sachs Group set a $13.00 price objective on shares of Ford Motor and gave the stock a buy rating in a research report on Thursday, June 13th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Ford Motor presently has a consensus rating of Hold and an average target price of $10.33.
NYSE F traded up $0.07 during trading on Wednesday, reaching $9.17. 37,164,092 shares of the company’s stock traded hands, compared to its average volume of 39,468,305. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.20 and a quick ratio of 1.08. The firm has a market cap of $37.03 billion, a price-to-earnings ratio of 7.05, a price-to-earnings-growth ratio of 0.99 and a beta of 1.14. The company’s 50 day simple moving average is $9.20 and its two-hundred day simple moving average is $9.55. Ford Motor has a 12-month low of $7.41 and a 12-month high of $10.56.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, July 23rd were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date was Monday, July 22nd. Ford Motor’s payout ratio is currently 46.15%.
In related news, CEO James P. Hackett sold 20,000 shares of Ford Motor stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $9.16, for a total value of $183,200.00. Following the completion of the sale, the chief executive officer now directly owns 174,575 shares in the company, valued at approximately $1,599,107. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman William Clay Ford, Jr. bought 840,962 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $9.51 per share, with a total value of $7,997,548.62. Following the completion of the purchase, the chairman now directly owns 1,100,617 shares in the company, valued at $10,466,867.67. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 115,000 shares of company stock worth $1,128,650. Insiders own 0.83% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC lifted its stake in Ford Motor by 6,936.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 25,628,550 shares of the auto manufacturer’s stock valued at $262,181,000 after acquiring an additional 25,264,307 shares during the period. Prudential Financial Inc. lifted its stake in Ford Motor by 234.5% during the 2nd quarter. Prudential Financial Inc. now owns 19,187,024 shares of the auto manufacturer’s stock valued at $196,283,000 after acquiring an additional 13,450,400 shares during the period. Point72 Asset Management L.P. acquired a new stake in Ford Motor during the 2nd quarter valued at approximately $99,934,000. Pictet Asset Management Ltd. lifted its stake in Ford Motor by 151.3% during the 2nd quarter. Pictet Asset Management Ltd. now owns 1,741,015 shares of the auto manufacturer’s stock valued at $17,811,000 after acquiring an additional 5,137,800 shares during the period. Finally, Invesco Ltd. lifted its stake in Ford Motor by 19.7% during the 2nd quarter. Invesco Ltd. now owns 30,504,964 shares of the auto manufacturer’s stock valued at $312,066,000 after acquiring an additional 5,021,901 shares during the period. Institutional investors own 53.79% of the company’s stock.
About Ford Motor
Ford Motor Company designs, manufactures, markets, and services a range of Ford cars, trucks, sport utility vehicles, and electrified vehicles worldwide. It operates through three segments: Automotive, Mobility, and Ford Credit. The Automotive segment 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.
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