Summit Asset Management LLC Purchases 5,000 Shares of CNH Industrial (NYSE:CNHI)

Summit Asset Management LLC lifted its position in shares of CNH Industrial (NYSE:CNHI) by 20.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,000 shares of the company’s stock after buying an additional 5,000 shares during the period. Summit Asset Management LLC’s holdings in CNH Industrial were worth $353,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arizona State Retirement System purchased a new position in shares of CNH Industrial in the fourth quarter worth $3,429,000. Daiwa Securities Group Inc. bought a new position in CNH Industrial in the 4th quarter valued at approximately $822,000. Jump Financial LLC lifted its position in CNH Industrial by 40.3% during the third quarter. Jump Financial LLC now owns 210,402 shares of the company’s stock valued at $2,546,000 after purchasing an additional 60,398 shares during the period. Vanguard Group Inc. grew its position in CNH Industrial by 38.9% during the third quarter. Vanguard Group Inc. now owns 51,276,895 shares of the company’s stock valued at $620,450,000 after buying an additional 14,348,475 shares during the period. Finally, Raymond James & Associates grew its stake in shares of CNH Industrial by 62.4% during the 4th quarter. Raymond James & Associates now owns 343,495 shares of the company’s stock valued at $4,184,000 after acquiring an additional 131,965 shares during the period. 59.88% of the stock is currently owned by institutional investors.

CNH Industrial Stock Performance

NYSE:CNHI traded up $0.30 during trading hours on Thursday, hitting $11.63. 8,633,933 shares of the company traded hands, compared to its average volume of 12,013,513. The company has a current ratio of 9.32, a quick ratio of 7.86 and a debt-to-equity ratio of 3.34. CNH Industrial has a twelve month low of $9.77 and a twelve month high of $15.74. The firm has a 50-day moving average of $12.28 and a 200 day moving average of $11.72. The stock has a market capitalization of $14.61 billion, a price-to-earnings ratio of 6.46 and a beta of 1.66.

CNH Industrial (NYSE:CNHI) last issued its earnings results on Wednesday, February 14th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. CNH Industrial had a return on equity of 29.59% and a net margin of 9.60%. The firm had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.50 billion. During the same period last year, the business earned $0.36 earnings per share. CNH Industrial’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, analysts forecast that CNH Industrial will post 1.56 EPS for the current year.

CNH Industrial Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.47 per share. This represents a yield of 3.71%. This is a boost from CNH Industrial’s previous annual dividend of $0.39. The ex-dividend date of this dividend is Friday, May 10th.

Wall Street Analyst Weigh In

CNHI has been the subject of several research reports. Morgan Stanley began coverage on shares of CNH Industrial in a research report on Monday, January 8th. They set an “equal weight” rating and a $12.70 price objective for the company. Evercore ISI upped their price objective on shares of CNH Industrial from $11.50 to $13.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Truist Financial started coverage on shares of CNH Industrial in a report on Thursday, March 14th. They issued a “buy” rating and a $18.00 price objective on the stock. Bank of America reaffirmed a “neutral” rating on shares of CNH Industrial in a report on Monday, April 22nd. Finally, The Goldman Sachs Group raised shares of CNH Industrial from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.20.

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.