Engineers Gate Manager LP purchased a new position in shares of CNH Industrial NV (NASDAQ:CNHI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 187,527 shares of the company’s stock, valued at approximately $2,134,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Credit Suisse AG grew its position in shares of CNH Industrial NV by 1.4% during the 1st quarter. Credit Suisse AG now owns 3,829,285 shares of the company’s stock worth $36,914,000 after buying an additional 52,086 shares in the last quarter. Vanguard Group Inc. grew its position in shares of CNH Industrial NV by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 22,012,748 shares of the company’s stock worth $212,204,000 after buying an additional 848,678 shares in the last quarter. Credit Agricole S A grew its position in shares of CNH Industrial NV by 10.3% during the 1st quarter. Credit Agricole S A now owns 6,617,807 shares of the company’s stock worth $63,796,000 after buying an additional 616,168 shares in the last quarter. Comerica Bank grew its position in shares of CNH Industrial NV by 1.3% during the 1st quarter. Comerica Bank now owns 76,225 shares of the company’s stock worth $820,000 after buying an additional 986 shares in the last quarter. Finally, Trexquant Investment LP grew its position in shares of CNH Industrial NV by 44.6% during the 2nd quarter. Trexquant Investment LP now owns 41,700 shares of the company’s stock worth $475,000 after buying an additional 12,866 shares in the last quarter.
A number of research firms have recently issued reports on CNHI. Seaport Global Securities raised CNH Industrial NV from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.00 to $14.00 in a research report on Thursday, July 13th. Stifel Nicolaus reissued a “hold” rating and set a $11.50 price target on shares of CNH Industrial NV in a research report on Friday, July 14th. BidaskClub downgraded CNH Industrial NV from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Bank of America Corporation raised CNH Industrial NV from a “neutral” rating to a “buy” rating in a research report on Monday, June 19th. Finally, Zacks Investment Research downgraded CNH Industrial NV from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. CNH Industrial NV currently has a consensus rating of “Hold” and a consensus price target of $11.26.
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Shares of CNH Industrial NV (NASDAQ:CNHI) opened at 11.38 on Monday. CNH Industrial NV has a 12 month low of $6.93 and a 12 month high of $12.13. The company’s 50-day moving average price is $11.39 and its 200-day moving average price is $10.80. The company has a market cap of $15.52 billion and a P/E ratio of 36.71.
CNH Industrial NV (NASDAQ:CNHI) last released its earnings results on Wednesday, July 26th. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.03. CNH Industrial NV had a return on equity of 21.59% and a net margin of 3.17%. The firm had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same period in the previous year, the firm posted $0.10 EPS. CNH Industrial NV’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts forecast that CNH Industrial NV will post $0.45 EPS for the current fiscal year.
CNH Industrial NV declared that its board has approved a stock buyback program on Monday, June 5th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
CNH Industrial NV Profile
CNH Industrial N.V. is a capital goods company. The Company is engaged in the design, production, marketing, sale and financing of agricultural and construction equipment, trucks, commercial vehicles, buses and specialty vehicles for firefighting, defense and other uses, as well as engines, transmissions and axles for vehicles and engines under marine and power generation applications.
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