Billionaires Love These 5 EV Stocks

3. Ford Motor Company (NYSE:F)

Hedge Fund Holdings: 46

Notable Billionaires Having Stakes in F: Israel Englander, Ray Dalio, Steve Cohen

Based in Dearborn, Michigan, Ford Motor Co. (NYSE:F) is an American multinational automobile manufacturer which specializes in the manufacture of ICE and EV products. It is the second largest U.S-based automaker, and fifth largest in the world based on 2015 vehicle production. In October 2014, Ford Motor Co. (NYSE:F) launched its plug-in electric vehicle initiative and the company’s portfolio now includes PEVs like Ford Ranger EV, and the Ford Focus Electric. As of Q2 2022, the company posted an EPS of $0.68, beating estimates of $0.45 by $0.23.

Investor interest in Ford Motor Co. (NYSE:F) has not changed since Q1 2022, with 46 hedge funds long the stock in Q1 and Q2 2022. Of the 46 hedge funds having stakes in Ford Motor Co. (NYSE:F) in Q2 2022, more than 26 are managed and operated by billionaires. Some of the most prominent billionaires to have significant stakes in Ford Motor Co. (NYSE:F) are Israel Englander of Millennium Management, Ray Dalio of Bridgewater Associates, and Steve Cohen of Point72 Asset Management. Billionaire Ken Griffin’s Citadel Investment Group is the biggest shareholder in Ford Motor Co. (NYSE:F), owning more than 29 million shares valued at around $323.2 million.

On August 2, Citi analyst Itay Michaeli raised the price target on Ford Motor Co. (NYSE:F) from $15 to $16, maintaining a Neutral rating on the stock. The analyst updated the targets for most automakers post Q2 results, also closing his ’90-day Upside Catalyst Watch’ on Ford Motor Co. (NYSE:F), as he believes the near-term catalysts have been realized.

Baron Funds, an asset management firm, mentioned Ford Motor Co. (NYSE:F) in their Q1 2022 investor letter, a copy of which can be obtained here. This is what they had to say:

“Ford (NYSE:F) is another example of typical industrial manufacturing business executive mindsets. The April 18, 2022, Bloomberg Businessweek cover story features Ford CEO Jim Farley behind the wheel of an electrified Ford F-150 Lightning. The article is titled, “Hey Elon, THIS is a truck.” I thought the article was terrific. One idea especially stood out to me. Since the F-150 is such a popular vehicle, it “argued for a gradual approach to electrification. Essentially the company retrofitted an existing F-150 with an electric powertrain rather than develop an entirely new truck.” No all-in financial and operation bet by this company on electrification.”