Quantitative Systematic Strategies LLC Purchases New Stake in CNH Industrial NV (CNHI)
Quantitative Systematic Strategies LLC purchased a new position in shares of CNH Industrial NV (NYSE:CNHI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,868 shares of the company’s stock, valued at approximately $253,000.
A number of other large investors also recently modified their holdings of the stock. Parametrica Management Ltd grew its position in CNH Industrial by 357.6% during the fourth quarter. Parametrica Management Ltd now owns 48,045 shares of the company’s stock worth $644,000 after buying an additional 37,545 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in CNH Industrial by 3.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 310,164 shares of the company’s stock worth $4,125,000 after buying an additional 11,637 shares in the last quarter. James Investment Research Inc. acquired a new stake in CNH Industrial during the fourth quarter worth approximately $1,751,000. Fox Run Management L.L.C. acquired a new stake in CNH Industrial during the fourth quarter worth approximately $320,000. Finally, AXA grew its position in CNH Industrial by 0.5% during the third quarter. AXA now owns 15,801,602 shares of the company’s stock worth $189,777,000 after buying an additional 83,060 shares in the last quarter. 18.09% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on CNHI shares. Bank of America increased their price target on CNH Industrial from $15.00 to $17.00 in a research report on Monday, January 15th. UBS Group began coverage on CNH Industrial in a research note on Monday, January 8th. They set a “buy” rating and a $17.00 target price for the company. Deutsche Bank upgraded CNH Industrial from a “hold” rating to a “buy” rating and upped their target price for the stock from $12.81 to $16.00 in a research note on Thursday, January 4th. Seaport Global Securities restated a “buy” rating and set a $16.00 target price on shares of CNH Industrial in a research note on Wednesday, January 3rd. Finally, Citigroup upgraded CNH Industrial from a “neutral” rating to a “buy” rating and upped their target price for the stock from $13.75 to $15.00 in a research note on Wednesday, November 29th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $14.69.
CNH Industrial (NYSE:CNHI) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.14 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.14. CNH Industrial had a return on equity of 14.58% and a net margin of 1.08%. The company had revenue of $8.10 billion during the quarter, compared to analysts’ expectations of $7.38 billion. During the same period in the prior year, the company earned $0.14 EPS. CNH Industrial’s revenue was up 15.8% compared to the same quarter last year. sell-side analysts predict that CNH Industrial NV will post 0.68 earnings per share for the current fiscal year.
CNH Industrial declared that its Board of Directors has approved a share buyback plan on Tuesday, January 30th that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
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CNH Industrial 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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