Picton Mahoney Asset Management Invests $429,000 in CNH Industrial (NYSE:CNHI)

Picton Mahoney Asset Management acquired a new stake in CNH Industrial (NYSE:CNHI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 35,180 shares of the company’s stock, valued at approximately $429,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Harris Associates L P increased its stake in CNH Industrial by 9.2% during the third quarter. Harris Associates L P now owns 123,079,130 shares of the company’s stock worth $1,501,638,000 after purchasing an additional 10,322,578 shares during the period. Vanguard Group Inc. increased its stake in CNH Industrial by 38.9% during the 3rd quarter. Vanguard Group Inc. now owns 51,276,895 shares of the company’s stock worth $620,450,000 after buying an additional 14,348,475 shares during the period. LSV Asset Management lifted its holdings in CNH Industrial by 23.0% during the 4th quarter. LSV Asset Management now owns 12,409,740 shares of the company’s stock worth $151,151,000 after buying an additional 2,319,600 shares in the last quarter. Bank of New York Mellon Corp boosted its position in CNH Industrial by 2.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,188,035 shares of the company’s stock valued at $74,875,000 after buying an additional 164,166 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of CNH Industrial in the third quarter worth $45,390,000. Hedge funds and other institutional investors own 59.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Evercore ISI lifted their target price on CNH Industrial from $11.50 to $13.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Bank of America reissued a “neutral” rating on shares of CNH Industrial in a research report on Monday, April 22nd. JPMorgan Chase & Co. reduced their target price on shares of CNH Industrial from $14.50 to $14.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. StockNews.com cut shares of CNH Industrial from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.20.

CNH Industrial Stock Performance

Shares of CNHI stock opened at $11.65 on Thursday. The stock’s 50-day moving average is $12.24 and its two-hundred day moving average is $11.72. The company has a debt-to-equity ratio of 3.34, a quick ratio of 7.86 and a current ratio of 9.32. CNH Industrial has a 1 year low of $9.77 and a 1 year high of $15.74. The firm has a market cap of $14.64 billion, a price-to-earnings ratio of 6.81 and a beta of 1.66.

CNH Industrial (NYSE:CNHI) last announced its earnings results on Thursday, May 2nd. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.46 billion. CNH Industrial had a return on equity of 28.40% and a net margin of 9.48%. The business’s revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS. Analysts predict that CNH Industrial will post 1.53 earnings per share for the current year.

CNH Industrial Increases Dividend

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

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.