Mackenzie Financial Corp Invests $2.84 Million in CNH Industrial N.V. (NYSE:CNH)

Mackenzie Financial Corp bought a new position in shares of CNH Industrial N.V. (NYSE:CNH) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 231,270 shares of the company’s stock, valued at approximately $2,840,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ridgewood Investments LLC lifted its stake in CNH Industrial by 3.8% in the 1st quarter. Ridgewood Investments LLC now owns 148,163 shares of the company’s stock worth $1,819,000 after purchasing an additional 5,492 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of CNH Industrial by 156.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,004,731 shares of the company’s stock worth $12,080,000 after purchasing an additional 613,176 shares during the last quarter. TD Asset Management Inc lifted its position in shares of CNH Industrial by 8.6% in the first quarter. TD Asset Management Inc now owns 294,222 shares of the company’s stock worth $3,613,000 after buying an additional 23,319 shares in the last quarter. Assetmark Inc. lifted its position in shares of CNH Industrial by 106.0% in the first quarter. Assetmark Inc. now owns 152,085 shares of the company’s stock worth $1,868,000 after buying an additional 78,242 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in CNH Industrial by 27.4% during the first quarter. Cetera Investment Advisers now owns 75,199 shares of the company’s stock valued at $923,000 after buying an additional 16,194 shares during the last quarter. Institutional investors own 59.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley reduced their price objective on CNH Industrial from $16.50 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Evercore ISI raised their target price on shares of CNH Industrial from $13.00 to $15.00 and gave the company an “in-line” rating in a report on Monday, May 19th. Northland Securities raised shares of CNH Industrial from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a research note on Friday, April 11th. Wall Street Zen started coverage on shares of CNH Industrial in a research report on Wednesday, April 30th. They set a “sell” rating for the company. Finally, Oppenheimer boosted their target price on shares of CNH Industrial from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CNH Industrial presently has an average rating of “Moderate Buy” and a consensus target price of $14.88.

Insiders Place Their Bets

In other news, insider Kelly Manley sold 3,575 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $12.70, for a total value of $45,402.50. Following the transaction, the insider directly owned 161,473 shares in the company, valued at approximately $2,050,707.10. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Oddone Incisa sold 22,515 shares of CNH Industrial stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $12.70, for a total transaction of $285,940.50. Following the sale, the chief financial officer owned 856,574 shares of the company’s stock, valued at $10,878,489.80. The trade was a 2.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,246 shares of company stock valued at $511,732 in the last three months. 1.00% of the stock is owned by company insiders.

CNH Industrial Stock Down 3.9%

Shares of NYSE CNH opened at $12.46 on Friday. CNH Industrial N.V. has a 1 year low of $9.28 and a 1 year high of $14.27. The firm has a 50-day simple moving average of $12.97 and a two-hundred day simple moving average of $12.60. The company has a market cap of $15.57 billion, a P/E ratio of 19.17 and a beta of 1.54. The company has a debt-to-equity ratio of 3.29, a current ratio of 13.41 and a quick ratio of 11.18.

CNH Industrial (NYSE:CNH) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. CNH Industrial had a return on equity of 14.32% and a net margin of 5.53%. The firm had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same period last year, the company earned $0.38 EPS. CNH Industrial’s quarterly revenue was down 14.2% compared to the same quarter last year. Research analysts anticipate that CNH Industrial N.V. will post 0.7 earnings per share for the current year.

CNH Industrial Company Profile

CNH Industrial NV is an equipment and services company, which develops, manufactures and sells specialized machines and services for the farming and construction industries, and supplies replacement parts and accessories. It operates through the following operating segments: Agriculture, Construction, and Financial Services.