Invesco Ltd. Has $72.45 Million Stock Position in Ferrari (NYSE:RACE)

Invesco Ltd. decreased its position in Ferrari (NYSE:RACE - Free Report) by 45.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,535 shares of the company's stock after selling 144,888 shares during the quarter. Invesco Ltd. owned 0.07% of Ferrari worth $72,450,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Hanson & Doremus Investment Management acquired a new stake in shares of Ferrari in the fourth quarter valued at about $26,000. Armstrong Advisory Group Inc. grew its position in shares of Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock valued at $42,000 after acquiring an additional 50 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Ferrari during the 4th quarter worth about $45,000. Plato Investment Management Ltd bought a new stake in shares of Ferrari in the 4th quarter valued at about $53,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in Ferrari by 705.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock valued at $58,000 after purchasing an additional 120 shares during the last quarter.

Analyst Upgrades and Downgrades

RACE has been the topic of several research analyst reports. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Kepler Capital Markets upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research report on Thursday, February 6th. They issued a "hold" rating on the stock. Finally, UBS Group reduced their target price on Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $481.60.

Ferrari Trading Up 1.6 %

RACE traded up $7.01 during trading on Friday, hitting $439.76. The company's stock had a trading volume of 239,651 shares, compared to its average volume of 327,939. The firm has a market capitalization of $106.59 billion, a P/E ratio of 48.06, a PEG ratio of 4.43 and a beta of 1.03. Ferrari has a twelve month low of $391.54 and a twelve month high of $509.13. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The stock's fifty day moving average price is $450.23 and its 200-day moving average price is $447.40.

Ferrari Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be issued a $3.1265 dividend. This represents a yield of 0.5%. This is a boost from Ferrari's previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari's dividend payout ratio (DPR) is presently 5.63%.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.