Eastern Bank Lowers stake in Ford Motor Company (F)

Ford Motor Company (F) : Eastern Bank reduced its stake in Ford Motor Company by 17.79% during the most recent quarter end. The investment management company now holds a total of 1,063,242 shares of Ford Motor Company which is valued at $14,513,253 after selling 230,072 shares in Ford Motor Company , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Ford Motor Company makes up approximately 1.14% of Eastern Bank’s portfolio.

Other Hedge Funds, Including , Sonora Investment Management reduced its stake in F by selling 267 shares or 32.68% in the most recent quarter. The Hedge Fund company now holds 550 shares of F which is valued at $7,508.Barry Investment Advisors boosted its stake in F in the latest quarter, The investment management firm added 95 additional shares and now holds a total of 14,217 shares of Ford Motor Company which is valued at $194,062. Ford Motor Company makes up approx 0.07% of Barry Investment Advisors’s portfolio. First Western Capital Management Co sold out all of its stake in F during the most recent quarter. The investment firm sold 13,500 shares of F which is valued $181,980.

Ford Motor Company opened for trading at $13.56 and hit $13.68 on the upside on Monday, eventually ending the session at $13.65, with a gain of 0.59% or 0.08 points. The heightened volatility saw the trading volume jump to 2,25,45,937 shares. Company has a market cap of $54,229 M.

On the company’s financial health, Ford Motor Company reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.21 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.47. The company had revenue of $35257.00 million for the quarter, compared to analysts expectations of $35840.24 million. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Many Wall Street Analysts have commented on Ford Motor Company. Piper Jaffray Initiated Ford Motor Company on Jun 10, 2016 to “Overweight”, Price Target of the shares are set at $17.Ford Motor Company was Downgraded by BofA/Merrill to ” Neutral” on Apr 29, 2016. Shares were Reiterated by UBS on Apr 29, 2016 to “Buy” and Lowered the Price Target to $ 20 from a previous price target of $22 .

Ford Motor Company (Ford) manufactures or distributes automobiles across six continents. The Company operates in two sectors: Automotive and Financial Services. Automotive sector includes North America South America Europe Middle East & Africa and Asia Pacific segments. Financial Services sector includes Ford Motor Credit Company and Other Financial Services segments. Its automotive brands include Ford and Lincoln. Other Financial Services includes a range of businesses including holding companies and real estate-related activities. The Company has around 62 plants across the world. Through its wholly owned subsidiary Ford Motor Credit Company LLC it provides automotive financing products to and through automotive dealers throughout the world.

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