Assenagon Asset Management S.A. Lowers Position in CNH Industrial N.V. $CNH

Assenagon Asset Management S.A. lessened its holdings in shares of CNH Industrial N.V. (NYSE:CNH) by 80.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,506 shares of the company’s stock after selling 395,345 shares during the quarter. Assenagon Asset Management S.A.’s holdings in CNH Industrial were worth $862,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quent Capital LLC purchased a new stake in shares of CNH Industrial during the 3rd quarter valued at $27,000. Measured Wealth Private Client Group LLC bought a new stake in shares of CNH Industrial during the 3rd quarter worth $29,000. Elevation Wealth Partners LLC purchased a new position in CNH Industrial in the fourth quarter worth $31,000. Clearstead Advisors LLC grew its position in CNH Industrial by 132.7% in the third quarter. Clearstead Advisors LLC now owns 3,374 shares of the company’s stock worth $37,000 after acquiring an additional 1,924 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in CNH Industrial in the third quarter valued at $37,000. Hedge funds and other institutional investors own 59.88% of the company’s stock.

CNH Industrial Stock Up 5.7%

Shares of CNH Industrial stock opened at $11.00 on Wednesday. The company has a debt-to-equity ratio of 3.44, a quick ratio of 11.36 and a current ratio of 13.34. CNH Industrial N.V. has a 52-week low of $9.00 and a 52-week high of $14.27. The stock has a market capitalization of $13.64 billion, a price-to-earnings ratio of 27.49, a P/E/G ratio of 1.56 and a beta of 1.24. The company’s 50 day moving average price is $11.51 and its 200-day moving average price is $10.62.

CNH Industrial (NYSE:CNH) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. The company had revenue of $5.16 billion during the quarter, compared to analyst estimates of $4.91 billion. CNH Industrial had a net margin of 2.82% and a return on equity of 8.90%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 EPS. Equities research analysts forecast that CNH Industrial N.V. will post 0.7 EPS for the current year.

CNH Industrial Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be issued a dividend of $0.10 per share. This represents a yield of 89.0%. The ex-dividend date is Thursday, May 21st. CNH Industrial’s payout ratio is currently 25.00%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CNH. Wall Street Zen upgraded CNH Industrial from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Truist Financial set a $12.00 price objective on CNH Industrial in a research report on Wednesday, January 14th. Robert W. Baird raised their price objective on CNH Industrial from $10.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Barclays dropped their target price on CNH Industrial from $14.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, December 22nd. Finally, Oppenheimer upped their target price on CNH Industrial from $13.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Eight research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.23.

CNH Industrial Profile

CNH Industrial N.V. is a global capital goods company specializing in the design, production and sale of agricultural and construction equipment, commercial vehicles and powertrain solutions. The firm operates through five core brands—Case IH and New Holland for agricultural machinery, Case and New Holland for construction equipment, Iveco for light, medium and heavy commercial vehicles, and FPT Industrial for engines and drivetrain components. Established in 2013 through the combination of Fiat Industrial and CNH Global, the company draws on a rich heritage of innovation dating back to pioneering landmarks in farm and construction machinery from the 19th century.

The company’s product portfolio encompasses tractors, combines, balers, excavators, backhoe loaders, trucks, vans and bespoke engines for marine, automotive and industrial markets.