California Public Employees Retirement System Buys Shares of 1,726,665 CNH Industrial (NYSE:CNHI)

California Public Employees Retirement System purchased a new position in CNH Industrial (NYSE:CNHI) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,726,665 shares of the company’s stock, valued at approximately $21,031,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alta Advisers Ltd acquired a new stake in shares of CNH Industrial in the third quarter worth about $40,000. BKM Wealth Management LLC acquired a new stake in shares of CNH Industrial in the fourth quarter worth about $49,000. Desjardins Global Asset Management Inc. acquired a new stake in shares of CNH Industrial in the fourth quarter worth about $55,000. CWM LLC lifted its position in shares of CNH Industrial by 29.3% in the third quarter. CWM LLC now owns 5,383 shares of the company’s stock worth $65,000 after buying an additional 1,220 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of CNH Industrial by 27.5% in the fourth quarter. Lindbrook Capital LLC now owns 6,188 shares of the company’s stock worth $75,000 after buying an additional 1,334 shares during the last quarter. Institutional investors and hedge funds own 59.88% of the company’s stock.

CNH Industrial Stock Performance

CNHI stock opened at $11.41 on Monday. The business’s fifty day moving average is $12.31 and its 200-day moving average is $11.73. The company has a quick ratio of 7.86, a current ratio of 9.32 and a debt-to-equity ratio of 3.34. The company has a market cap of $14.33 billion, a P/E ratio of 6.52 and a beta of 1.65. CNH Industrial has a twelve month low of $9.77 and a twelve month high of $15.74.

CNH Industrial (NYSE:CNHI) last released its earnings results on Wednesday, February 14th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. CNH Industrial had a return on equity of 29.59% and a net margin of 9.60%. The firm had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.50 billion. During the same quarter in the prior year, the company earned $0.36 EPS. The company’s revenue was down 2.6% on a year-over-year basis. Equities research analysts forecast that CNH Industrial will post 1.56 EPS for the current year.

CNH Industrial Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 13th will be given a dividend of $0.47 per share. 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 yield of 3.71%.

Wall Street Analyst Weigh In

CNHI has been the subject of a number of analyst reports. Bank of America reaffirmed a “neutral” rating on shares of CNH Industrial in a research report on Monday, April 22nd. Robert W. Baird boosted their price objective on CNH Industrial from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Oppenheimer reissued a “market perform” rating on shares of CNH Industrial in a research report on Tuesday, April 16th. The Goldman Sachs Group raised CNH Industrial from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Wednesday, January 17th. Finally, DA Davidson assumed coverage on CNH Industrial in a research report on Tuesday, January 23rd. They set a “neutral” rating and a $13.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.20.

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.