Goldman Sachs EV and Battery Stocks: Top 5 Stock Picks

2. Ford Motor Company (NYSE:F)

Goldman Sachs’ Stake Value: $1,820,097,272

Number of Hedge Fund Holders: 40

Ford Motor Company (NYSE:F) specializes in the design, production, distribution, and maintenance of various vehicles, including Ford trucks, commercial cars, vans, SUVs, and luxury Lincoln vehicles worldwide. Additionally, Ford Motor Company (NYSE:F) is involved in the production of electric vehicles, hybrids, and plug-in hybrids. Goldman Sachs held a $1.82 billion stake in Ford Motor Company (NYSE:F) during the second quarter of 2023. 

On July 27, Ford Motor Company (NYSE:F) reported a Q2 non-GAAP EPS of $0.72 and a revenue of $42.43 billion, outperforming Wall Street estimates by $0.18 and $1.11 billion, respectively. The company is also set to pay a $0.15 per share quarterly dividend on September 1. 

According to Insider Monkey’s second quarter database, 40 hedge funds held stakes in Ford Motor Company (NYSE:F), compared to 38 funds in the prior quarter. John Overdeck and David Siegel’s Two Sigma Advisors is the largest stakeholder of the company, with 28.90 million shares worth $437.3 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in August and September, as major players, such as Ford (NYSE:F), have recently issued profit warnings and/or have withdrawn guidance.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%[2] from 7.2% in early August and slashing full-year profit growth to 4.5%.”