Teachers Advisors LLC lifted its stake in CNH Industrial NV (NYSE:CNHI) by 41.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,057,544 shares of the company’s stock after purchasing an additional 606,357 shares during the period. Teachers Advisors LLC owned about 0.15% of CNH Industrial worth $27,571,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. CoreCommodity Management LLC purchased a new stake in CNH Industrial during the 4th quarter worth about $139,000. Virtu Financial LLC purchased a new stake in CNH Industrial during the 4th quarter worth about $195,000. Victory Capital Management Inc. purchased a new stake in CNH Industrial during the 3rd quarter worth about $202,000. Wells Fargo & Company MN lifted 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 buying an additional 3,845 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in CNH Industrial during the 4th quarter worth about $229,000. Hedge funds and other institutional investors own 21.24% of the company’s stock.
Shares of CNHI stock opened at $12.18 on Friday. The company has a current ratio of 5.42, a quick ratio of 4.38 and a debt-to-equity ratio of 5.89. CNH Industrial NV has a 52-week low of $9.36 and a 52-week high of $15.65. The company has a market capitalization of $16,791.05, a PE ratio of 55.36 and a beta of 0.98.
CNH Industrial announced that its board has approved a share buyback program on Tuesday, January 30th that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
CNHI has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on CNH Industrial in a report on Friday, March 2nd. They set an “equal weight” rating and a $15.00 price target for the company. Zacks Investment Research downgraded CNH Industrial from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Deutsche Bank raised CNH Industrial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $12.81 to $16.00 in a report on Thursday, January 4th. Stifel Nicolaus reaffirmed a “hold” rating and set a $14.00 price target (up from $13.40) on shares of CNH Industrial in a report on Tuesday, February 20th. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $16.00 price target on shares of CNH Industrial in a report on Wednesday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $14.77.
About CNH Industrial
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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