CNH Industrial (NYSE:CNHI) Shares Acquired by AlphaCrest Capital Management LLC

Posted by Defense World Staff on Mar 8th, 2023

AlphaCrest Capital Management LLC raised its stake in shares of CNH Industrial (NYSE:CNHI – Get Rating) by 107.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,146 shares of the company’s stock after purchasing an additional 31,647 shares during the period. AlphaCrest Capital Management LLC’s holdings in CNH Industrial were worth $683,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CNHI. Cigna Investments Inc. New increased its holdings in shares of CNH Industrial by 5.5% during the 2nd quarter. Cigna Investments Inc. New now owns 19,638 shares of the company’s stock worth $226,000 after buying an additional 1,023 shares during the last quarter. Greenleaf Trust increased its stake in CNH Industrial by 6.6% during the third quarter. Greenleaf Trust now owns 17,153 shares of the company’s stock worth $192,000 after acquiring an additional 1,063 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of CNH Industrial by 8.6% in the 2nd quarter. Brown Advisory Inc. now owns 16,088 shares of the company’s stock worth $186,000 after purchasing an additional 1,277 shares during the period. Credit Agricole S A lifted its stake in shares of CNH Industrial by 1.0% in the 3rd quarter. Credit Agricole S A now owns 149,463 shares of the company’s stock valued at $1,670,000 after purchasing an additional 1,433 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of CNH Industrial by 3.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 72,275 shares of the company’s stock worth $838,000 after purchasing an additional 2,200 shares during the period. Hedge funds and other institutional investors own 38.37% of the company’s stock.

CNH Industrial Stock Down 1.7 %

CNHI stock opened at $16.44 on Wednesday. The company has a current ratio of 7.15, a quick ratio of 5.99 and a debt-to-equity ratio of 3.31. The firm has a 50 day simple moving average of $16.68 and a 200-day simple moving average of $14.69. The company has a market capitalization of $22.10 billion, a P/E ratio of 11.11 and a beta of 1.66. CNH Industrial has a twelve month low of $10.60 and a twelve month high of $17.98.

CNH Industrial (NYSE:CNHI – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. The company had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.10 billion. CNH Industrial had a net margin of 8.62% and a return on equity of 31.61%. The firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. On average, equities research analysts predict that CNH Industrial will post 1.7 earnings per share for the current fiscal year.

CNH Industrial Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, April 24th. Investors of record on Tuesday, April 25th will be issued a $0.3861 dividend. This is a positive change from CNH Industrial’s previous annual dividend of $0.31. This represents a yield of 1.8%. The ex-dividend date of this dividend is Monday, April 24th.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com upgraded shares of CNH Industrial from a “hold” rating to a “buy” rating in a report on Friday, November 18th. Barclays increased their price target on CNH Industrial from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, January 13th. Citigroup raised their price objective on CNH Industrial from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, December 1st. William Blair reaffirmed a “market perform” rating on shares of CNH Industrial in a research report on Tuesday, November 8th. Finally, Stifel Nicolaus raised their target price on CNH Industrial from $15.00 to $17.00 and gave the company a “hold” rating in a report on Monday, December 19th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.51.

CNH Industrial Company Profile

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CNH Industrial NV designs, produces and sells agricultural equipment and commercial vehicles. It operates through the following business segments: Heavy construction equipment and Light construction equipment. The Heavy construction equipment segment includes general construction equipment such as large wheel loaders and excavators, and road building and site preparation equipment such as graders, compactors and dozers.