5 Best Auto Stocks To Buy Now

2. Ford Motor Company (NYSE:F)

Number of Hedge Fund Holders: 46

Ford Motor Company (NYSE:F) is an American multinational automobile company that commercializes Ford trucks, cars, sport utility vehicles, electrified vehicles, and Lincoln luxury vehicles worldwide. On October 26, Ford Motor Company (NYSE:F) declared a quarterly dividend of $0.15 per share, in line with previous. The dividend is payable on December 1, to shareholders of the company as of November 15. The forward yield was 4.68%. 

On October 27, after a “mostly in-line” quarter from Ford Motor Company (NYSE:F) and fiscal year guidance for adjusted EBIT that was around $1 billion over his estimate, Morgan Stanley analyst Adam Jonas said that he views Ford’s decision to conclude its Argo robotaxi business as “a positive that investors will appreciate over time.” He maintained an Overweight rating and a $14 price target on Ford Motor Company (NYSE:F) shares.

Among the hedge funds tracked by Insider Monkey, 46 funds were long Ford Motor Company (NYSE:F) at the end of Q2 2022, and D E Shaw held a prominent stake in the company, comprising more than 23 million shares worth $257.6 million. 

Here is what Leaven Partners has to say about Ford Motor Company (NYSE:F) in its Q3 2022 investor letter:

“In our last quarterly letter, I briefly mentioned that the consensus estimates for corporate profits appeared to be a bit too sanguine. I referenced a Reuters article that reported, as of June 17, Wall Street expected S&P 500 earnings to grow by 9.6% in 2022, which was up from 8.8% in April and from 8.4% in January. That tune began to change at the end of July and accelerated in August and September, as major players, such as Ford (NYSE:F), have recently issued profit warnings and/or have withdrawn guidance. In response, Wall Street has altered its outlook: lowering third-quarter profit growth to 4.6% from 7.2% in early August and slashing full-year profit growth to 4.5%.”