Corebridge Financial Inc. Lowers Holdings in Ford Motor (NYSE:F)

Corebridge Financial Inc. reduced its stake in Ford Motor (NYSE:F) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 897,132 shares of the auto manufacturer’s stock after selling 43,214 shares during the period. Corebridge Financial Inc.’s holdings in Ford Motor were worth $8,882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mountain Hill Investment Partners Corp. purchased a new stake in Ford Motor during the 4th quarter valued at about $6,872,000. Crowley Wealth Management Inc. bought a new position in shares of Ford Motor in the fourth quarter worth approximately $107,000. Vanguard Group Inc. grew its holdings in shares of Ford Motor by 16.6% during the fourth quarter. Vanguard Group Inc. now owns 402,083,883 shares of the auto manufacturer’s stock valued at $3,980,630,000 after buying an additional 57,182,803 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Ford Motor during the fourth quarter valued at approximately $361,000. Finally, Fox Run Management L.L.C. raised its holdings in Ford Motor by 177.4% in the 4th quarter. Fox Run Management L.L.C. now owns 35,313 shares of the auto manufacturer’s stock worth $350,000 after acquiring an additional 22,582 shares during the last quarter. 58.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on F shares. Barclays downgraded Ford Motor from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $13.00 to $11.00 in a research note on Wednesday, January 22nd. Wells Fargo & Company reduced their price objective on Ford Motor from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Wolfe Research restated an “underperform” rating on shares of Ford Motor in a research note on Thursday, December 5th. Royal Bank of Canada dropped their price target on shares of Ford Motor from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Finally, Piper Sandler decreased their price objective on shares of Ford Motor from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.37.

Ford Motor Price Performance

Shares of Ford Motor stock opened at $9.92 on Friday. The stock has a market cap of $39.30 billion, a P/E ratio of 6.79, a P/E/G ratio of 0.61 and a beta of 1.59. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.02 and a current ratio of 1.16. The stock’s fifty day moving average is $9.76 and its 200 day moving average is $10.28. Ford Motor has a one year low of $9.06 and a one year high of $14.85.

Ford Motor (NYSE:F) last posted its quarterly earnings data on Wednesday, February 5th. The auto manufacturer reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. Ford Motor had a return on equity of 16.88% and a net margin of 3.18%. Sell-side analysts anticipate that Ford Motor will post 1.47 earnings per share for the current year.

Ford Motor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 6.05%. The ex-dividend date was Tuesday, February 18th. Ford Motor’s dividend payout ratio is currently 41.10%.

Ford Motor 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.