Franklin Resources Inc. boosted its holdings in CNH Industrial NV (NYSE:CNHI) by 93.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 35,031,154 shares of the company’s stock after buying an additional 16,900,395 shares during the period. Franklin Resources Inc.’s holdings in CNH Industrial were worth $469,479,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. CoreCommodity Management LLC bought a new position in CNH Industrial in the 4th quarter valued at approximately $139,000. FMR LLC raised its holdings in CNH Industrial by 14.4% in the 2nd quarter. FMR LLC now owns 11,900 shares of the company’s stock valued at $135,000 after buying an additional 1,500 shares during the last quarter. Virtu Financial LLC bought a new position in CNH Industrial in the 4th quarter valued at approximately $195,000. Wells Fargo & Company MN raised its holdings in CNH Industrial by 34.0% during the 4th quarter. Wells Fargo & Company MN now owns 15,150 shares of the company’s stock worth $203,000 after purchasing an additional 3,845 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new position in CNH Industrial during the 3rd quarter worth approximately $202,000. Institutional investors and hedge funds own 19.64% of the company’s stock.
CNHI has been the subject of several analyst reports. Zacks Investment Research lowered shares of CNH Industrial from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Morgan Stanley initiated coverage on shares of CNH Industrial in a report on Friday, March 2nd. They set an “equal weight” rating and a $15.00 price target for the company. Deutsche Bank upgraded shares of CNH Industrial from a “hold” rating to a “buy” rating and raised their price target for the stock from $12.81 to $16.00 in a report on Thursday, January 4th. Stifel Nicolaus restated a “hold” rating and set a $14.00 price target (up previously from $13.40) on shares of CNH Industrial in a report on Tuesday, February 20th. Finally, Seaport Global Securities restated a “buy” rating and set a $16.00 price target on shares of CNH Industrial in a report on Wednesday, January 3rd. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. CNH Industrial presently has an average rating of “Buy” and an average price target of $14.77.
CNH Industrial (NYSE:CNHI) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $8.10 billion during the quarter, compared to analyst estimates of $7.38 billion. CNH Industrial had a net margin of 1.08% and a return on equity of 14.58%. CNH Industrial’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 EPS. analysts expect that CNH Industrial NV will post 0.67 earnings per share for the current fiscal year.
CNH Industrial announced that its board has authorized a stock repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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CNH Industrial Profile
CNH Industrial N.V. is a capital goods company. The Company is engaged in the design, production, marketing, sale and financing of agricultural and construction equipment, trucks, commercial vehicles, buses and specialty vehicles for firefighting, defense and other uses, as well as engines, transmissions and axles for vehicles and engines under marine and power generation applications.
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