Bank of New York Mellon Corp reduced its position in CNH Industrial (NYSE:CNHI – Free Report) by 35.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,856,934 shares of the company’s stock after selling 2,615,500 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.36% of CNH Industrial worth $74,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of CNH Industrial by 2.7% in the third quarter. Vanguard Group Inc. now owns 35,221,420 shares of the company’s stock worth $393,423,000 after purchasing an additional 918,910 shares during the period. Perpetual Ltd bought a new position in shares of CNH Industrial during the first quarter worth $395,701,000. Norges Bank bought a new position in shares of CNH Industrial during the fourth quarter worth $265,843,000. Parnassus Investments LLC boosted its position in shares of CNH Industrial by 5.7% during the first quarter. Parnassus Investments LLC now owns 15,410,297 shares of the company’s stock worth $235,315,000 after acquiring an additional 833,117 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of CNH Industrial by 64.9% during the fourth quarter. JPMorgan Chase & Co. now owns 9,661,732 shares of the company’s stock worth $155,168,000 after acquiring an additional 3,803,258 shares during the last quarter. 39.44% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
CNHI has been the subject of a number of research reports. Oppenheimer dropped their target price on shares of CNH Industrial from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, July 31st. StockNews.com initiated coverage on shares of CNH Industrial in a research report on Saturday. They set a “hold” rating for the company. Finally, Citigroup dropped their target price on shares of CNH Industrial from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, July 18th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.38.
CNH Industrial Trading Down 0.6 %
Shares of CNHI opened at $13.05 on Friday. CNH Industrial has a twelve month low of $10.89 and a twelve month high of $17.98. The company has a market cap of $17.41 billion, a P/E ratio of 7.63 and a beta of 1.62. The company has a current ratio of 7.47, a quick ratio of 5.99 and a debt-to-equity ratio of 3.28. The company’s fifty day simple moving average is $14.42 and its 200-day simple moving average is $14.70.
CNH Industrial (NYSE:CNHI – Get Free Report) last announced its earnings results on Friday, July 28th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. CNH Industrial had a net margin of 9.44% and a return on equity of 31.51%. The business had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, analysts expect that CNH Industrial will post 1.78 EPS for the current year.
CNH Industrial Profile
CNH Industrial N.V., an equipment and services company, engages in the design, production, marketing, sale, and financing of agricultural and construction equipment in North America, Europe, the Middle East, Africa, South America, and the Asia Pacific. The company operates through three segments: Agriculture, Construction, and Financial Services.
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