Lord Abbett & CO. LLC purchased a new stake in shares of Ford Motor (NYSE:F) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,695,295 shares of the auto manufacturer’s stock, valued at approximately $25,192,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Core Wealth Advisors Inc. increased its position in Ford Motor by 123.7% during the 2nd quarter. Core Wealth Advisors Inc. now owns 1,787 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 988 shares during the period. Capital Analysts LLC raised its holdings in Ford Motor by 1,198.1% in the first quarter. Capital Analysts LLC now owns 2,700 shares of the auto manufacturer’s stock worth $33,000 after purchasing an additional 2,492 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Ford Motor in the second quarter worth about $34,000. Cypress Capital LLC grew its position in Ford Motor by 148.2% during the 1st quarter. Cypress Capital LLC now owns 2,968 shares of the auto manufacturer’s stock valued at $36,000 after purchasing an additional 1,772 shares during the last quarter. Finally, WD Rutherford LLC bought a new stake in shares of Ford Motor during the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 50.86% of the company’s stock.
NYSE:F opened at $12.77 on Wednesday. The firm has a market cap of $51.01 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 0.35 and a beta of 1.14. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.21 and a quick ratio of 1.05. The company has a 50 day moving average price of $13.39 and a 200-day moving average price of $13.32. Ford Motor has a 1-year low of $6.41 and a 1-year high of $16.45.
Several research analysts have weighed in on the stock. Bank of America increased their price target on shares of Ford Motor from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 16th. Barclays upped their price objective on Ford Motor from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 22nd. UBS Group lifted their price target on shares of Ford Motor from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Tuesday, June 29th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Ford Motor from $14.00 to $16.00 and gave the stock a “hold” rating in a research report on Thursday, May 27th. Finally, Wells Fargo & Company decreased their price objective on Ford Motor from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, September 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $14.94.
Ford Motor Company Profile
Ford Motor Co engages in the manufacture, distribution, and sale of automobiles. It operates through the following three segments: Automotive, Mobility, and Ford Credit. The Automotive segment engages in developing, manufacturing, marketing and servicing of Ford cars, Lincoln vehicles. The Mobility segment includes Ford Smart Mobility LLC and autonomous vehicles business.
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