Cannon Global Investment Management LLC Buys New Holdings in CNH Industrial (NYSE:CNHI)

Cannon Global Investment Management LLC acquired a new position in shares of CNH Industrial (NYSE:CNHI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 35,000 shares of the company’s stock, valued at approximately $426,000. CNH Industrial makes up approximately 3.2% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 14th biggest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNHI. Raymond James & Associates raised its holdings in CNH Industrial by 156.2% during the first quarter. Raymond James & Associates now owns 161,166 shares of the company’s stock worth $2,556,000 after purchasing an additional 98,266 shares in the last quarter. BlackRock Inc. increased its holdings in shares of CNH Industrial by 113.2% in the 1st quarter. BlackRock Inc. now owns 4,073,190 shares of the company’s stock valued at $64,601,000 after acquiring an additional 2,162,593 shares during the period. Sei Investments Co. acquired a new position in shares of CNH Industrial in the 1st quarter valued at $7,668,000. Canada Pension Plan Investment Board increased its holdings in shares of CNH Industrial by 0.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 703,293 shares of the company’s stock valued at $11,264,000 after acquiring an additional 5,669 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of CNH Industrial by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 33,478,435 shares of the company’s stock valued at $530,969,000 after acquiring an additional 577,993 shares during the period. Institutional investors and hedge funds own 59.88% of the company’s stock.

CNH Industrial Price Performance

CNHI stock traded down $0.11 during trading on Friday, hitting $12.29. The stock had a trading volume of 1,060,293 shares, compared to its average volume of 11,624,316. CNH Industrial has a 1-year low of $9.77 and a 1-year high of $15.74. The company’s 50 day moving average price is $12.38 and its two-hundred day moving average price is $11.74. The company has a debt-to-equity ratio of 3.34, a quick ratio of 7.86 and a current ratio of 9.32. The stock has a market cap of $15.44 billion, a price-to-earnings ratio of 7.09 and a beta of 1.65.

CNH Industrial (NYSE:CNHI) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. CNH Industrial had a net margin of 9.60% and a return on equity of 29.59%. The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.50 billion. During the same quarter in the prior year, the company posted $0.36 EPS. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, sell-side analysts forecast that CNH Industrial will post 1.56 EPS for the current fiscal year.

CNH Industrial Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 13th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, May 10th. This represents a dividend yield of 3.71%. This is an increase from CNH Industrial’s previous annual dividend of $0.39.

Analyst Ratings Changes

A number of equities analysts have recently commented on CNHI shares. Oppenheimer reaffirmed a “market perform” rating on shares of CNH Industrial in a report on Tuesday. StockNews.com lowered shares of CNH Industrial from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Evercore ISI lifted their price objective on shares of CNH Industrial from $11.50 to $13.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. DA Davidson initiated coverage on shares of CNH Industrial in a research report on Tuesday, January 23rd. They issued a “neutral” rating and a $13.00 price objective on the stock. Finally, The Goldman Sachs Group upgraded shares of CNH Industrial from a “neutral” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.20.

About CNH Industrial

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.