Balyasny Asset Management L.P. Invests $13.10 Million in CNH GLOBAL N V Foreign (NYSE:CNH)

Balyasny Asset Management L.P. bought a new stake in shares of CNH GLOBAL N V Foreign (NYSE:CNH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,156,538 shares of the company’s stock, valued at approximately $13,104,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bank of America Corp DE bought a new stake in CNH GLOBAL N V Foreign in the 4th quarter valued at $46,967,000. American Trust Investment Advisors LLC acquired a new stake in CNH GLOBAL N V Foreign during the fourth quarter worth about $712,000. Ariel Investments LLC bought a new position in CNH GLOBAL N V Foreign during the fourth quarter valued at about $25,579,000. AYAL Capital Advisors Ltd acquired a new position in CNH GLOBAL N V Foreign in the 4th quarter valued at approximately $5,382,000. Finally, Albar Capital Partners LLP bought a new stake in shares of CNH GLOBAL N V Foreign in the 4th quarter worth approximately $6,444,000. Institutional investors own 59.88% of the company’s stock.

Insider Activity

In related news, insider Stefano Pampalone sold 12,935 shares of CNH GLOBAL N V Foreign stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.64, for a total value of $150,563.40. Following the completion of the sale, the insider now owns 417,384 shares of the company’s stock, valued at approximately $4,858,349.76. This trade represents a 3.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gerrit A. Marx sold 320,472 shares of CNH GLOBAL N V Foreign stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $11.64, for a total transaction of $3,730,294.08. Following the transaction, the chief executive officer now owns 375,136 shares of the company’s stock, valued at $4,366,583.04. This represents a 46.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 392,620 shares of company stock worth $4,570,097 in the last three months. Company insiders own 1.00% of the company’s stock.

CNH GLOBAL N V Foreign Stock Performance

NYSE CNH opened at $12.60 on Friday. The company has a market capitalization of $15.72 billion, a price-to-earnings ratio of 12.23 and a beta of 1.50. CNH GLOBAL N V Foreign has a twelve month low of $9.28 and a twelve month high of $13.87. The stock has a fifty day simple moving average of $12.02 and a 200 day simple moving average of $11.94. The company has a quick ratio of 10.83, a current ratio of 13.21 and a debt-to-equity ratio of 3.54.

CNH GLOBAL N V Foreign (NYSE:CNH) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $4.47 billion. CNH GLOBAL N V Foreign had a net margin of 6.62% and a return on equity of 18.00%. CNH GLOBAL N V Foreign’s revenue for the quarter was down 20.5% on a year-over-year basis. Sell-side analysts expect that CNH GLOBAL N V Foreign will post 0.7 EPS for the current year.

CNH GLOBAL N V Foreign Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, May 30th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a dividend yield of 3.8%. CNH GLOBAL N V Foreign’s dividend payout ratio (DPR) is presently 57.32%.

Wall Street Analysts Forecast Growth

CNH has been the subject of a number of recent research reports. Truist Financial dropped their target price on CNH GLOBAL N V Foreign from $17.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Northland Securities upgraded shares of CNH GLOBAL N V Foreign from a “market perform” rating to an “outperform” rating and set a $18.00 target price on the stock in a research report on Friday, April 11th. Evercore ISI raised their price target on shares of CNH GLOBAL N V Foreign from $11.00 to $13.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Robert W. Baird reiterated a “neutral” rating and issued a $15.00 price objective (down from $16.00) on shares of CNH GLOBAL N V Foreign in a research report on Monday, March 3rd. Finally, Citigroup upped their price target on CNH GLOBAL N V Foreign from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

About CNH GLOBAL N V Foreign

CNH Industrial NV is an equipment and services company, which develops, manufactures and sells specialized machines and services for the farming and construction industries, and supplies replacement parts and accessories. It operates through the following operating segments: Agriculture, Construction, and Financial Services.