Hi, the part you are asking about is a bolt which is used to secure the rear bumper face bar (basically, the bumper itself) to the body of the car. Regarding a trailer hitch, the answer depends on whether your Ranger is equipped with a factory hitch or an aftermarket hitch. Most aftermarket hitches mount below the license plate/ rear bumper as you can see in this link: https://www.carid.com/2002-ford-ranger-trailer-hitches/