DAVENPORT & Co LLC Sells 1,198 Shares of CNH Industrial (NYSE:CNHI)

DAVENPORT & Co LLC trimmed its stake in CNH Industrial (NYSE:CNHI – Free Report) by 5.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,578 shares of the company’s stock after selling 1,198 shares during the period. DAVENPORT & Co LLC’s holdings in CNH Industrial were worth $296,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Benson Investment Management Company Inc. bought a new stake in shares of CNH Industrial in the 2nd quarter valued at approximately $4,092,000. Trellus Management Company LLC bought a new stake in shares of CNH Industrial during the 2nd quarter worth approximately $163,000. Astoria Portfolio Advisors LLC. lifted its stake in shares of CNH Industrial by 5.8% during the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 18,575 shares of the company’s stock worth $278,000 after acquiring an additional 1,014 shares during the last quarter. Xponance Inc. bought a new stake in shares of CNH Industrial during the 2nd quarter worth approximately $486,000. Finally, First Trust Direct Indexing L.P. lifted its stake in shares of CNH Industrial by 7.2% during the 2nd quarter. First Trust Direct Indexing L.P. now owns 35,699 shares of the company’s stock worth $514,000 after acquiring an additional 2,405 shares during the last quarter. 39.93% of the stock is owned by institutional investors.

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CNH Industrial Trading Up 0.6 %

Shares of NYSE:CNHI opened at $11.74 on Friday. CNH Industrial has a 12-month low of $11.43 and a 12-month high of $17.98. The business’s fifty day simple moving average is $13.20 and its 200-day simple moving average is $13.92. The company has a market capitalization of $15.67 billion, a PE ratio of 6.87 and a beta of 1.64. The company has a current ratio of 7.47, a quick ratio of 5.99 and a debt-to-equity ratio of 3.28.

CNH Industrial (NYSE:CNHI – Get Free Report) last announced its quarterly earnings results on Friday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. CNH Industrial had a return on equity of 31.51% and a net margin of 9.44%. The business had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period last year, the business posted $0.43 EPS. The business’s revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts predict that CNH Industrial will post 1.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CNHI shares. Sanford C. Bernstein lowered CNH Industrial from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $17.31 to $15.11 in a research note on Monday, September 4th. Citigroup decreased their price target on CNH Industrial from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, July 18th. Oppenheimer decreased their price target on CNH Industrial from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, July 31st. Finally, StockNews.com assumed coverage on CNH Industrial in a report on Thursday. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CNH Industrial currently has an average rating of “Moderate Buy” and a consensus target price of $19.02.

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About CNH Industrial

(Free Report)

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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