Allspring Global Investments Holdings LLC Cuts Position in CNH Industrial (NYSE:CNHI)

Allspring Global Investments Holdings LLC lowered its stake in shares of CNH Industrial (NYSE:CNHI) by 73.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,096 shares of the company’s stock after selling 32,816 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CNH Industrial were worth $147,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harris Associates L P raised its stake in shares of CNH Industrial by 9.2% during the 3rd quarter. Harris Associates L P now owns 123,079,130 shares of the company’s stock worth $1,501,638,000 after buying an additional 10,322,578 shares during the last quarter. Vanguard Group Inc. raised its position in CNH Industrial by 38.9% during the third quarter. Vanguard Group Inc. now owns 51,276,895 shares of the company’s stock worth $620,450,000 after acquiring an additional 14,348,475 shares during the last quarter. LSV Asset Management lifted its holdings in shares of CNH Industrial by 4,988.3% in the third quarter. LSV Asset Management now owns 10,090,140 shares of the company’s stock valued at $122,091,000 after purchasing an additional 9,891,840 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of CNH Industrial by 2.7% in the third quarter. Bank of New York Mellon Corp now owns 6,188,035 shares of the company’s stock valued at $74,875,000 after purchasing an additional 164,166 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in CNH Industrial during the third quarter worth $45,390,000. 59.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on CNHI. Evercore ISI lifted their price target on shares of CNH Industrial from $11.50 to $13.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Robert W. Baird upped their price objective on shares of CNH Industrial from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. DA Davidson began coverage on shares of CNH Industrial in a research report on Tuesday, January 23rd. They issued a “neutral” rating and a $13.00 target price on the stock. Truist Financial started coverage on shares of CNH Industrial in a report on Thursday, March 14th. They issued a “buy” rating and a $18.00 target price for the company. Finally, Bank of America reaffirmed a “neutral” rating on shares of CNH Industrial in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.20.

CNH Industrial Trading Up 0.3 %

Shares of CNHI opened at $11.41 on Monday. CNH Industrial has a 12 month low of $9.77 and a 12 month high of $15.74. The stock’s 50-day moving average is $12.31 and its two-hundred day moving average is $11.73. The company has a debt-to-equity ratio of 3.34, a current ratio of 9.32 and a quick ratio of 7.86. The stock has a market cap of $14.33 billion, a PE ratio of 6.52 and a beta of 1.65.

CNH Industrial (NYSE:CNHI) last announced its earnings results on Wednesday, February 14th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.50 billion. CNH Industrial had a return on equity of 29.59% and a net margin of 9.60%. The company’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. Equities analysts forecast that CNH Industrial will post 1.56 earnings per share for the current fiscal year.

CNH Industrial Increases Dividend

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

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.