Bank of America Corp DE Acquires Shares of 4,145,344 CNH GLOBAL N V Foreign (NYSE:CNH)

Bank of America Corp DE acquired a new stake in shares of CNH GLOBAL N V Foreign (NYSE:CNH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,145,344 shares of the company’s stock, valued at approximately $46,967,000. Bank of America Corp DE owned approximately 0.33% of CNH GLOBAL N V Foreign as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new stake in CNH GLOBAL N V Foreign during the fourth quarter valued at approximately $25,000. Quent Capital LLC acquired a new stake in shares of CNH GLOBAL N V Foreign during the 4th quarter worth approximately $26,000. Anchor Investment Management LLC acquired a new stake in shares of CNH GLOBAL N V Foreign during the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC acquired a new stake in shares of CNH GLOBAL N V Foreign during the 4th quarter worth approximately $27,000. Finally, Principal Securities Inc. acquired a new stake in shares of CNH GLOBAL N V Foreign during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 59.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CNH. Morgan Stanley dropped their price target on CNH GLOBAL N V Foreign from $16.50 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Northland Securities upgraded CNH GLOBAL N V Foreign from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a research report on Friday, April 11th. Robert W. Baird reiterated a “neutral” rating and set a $15.00 price target (down from $16.00) on shares of CNH GLOBAL N V Foreign in a research report on Monday, March 3rd. Northland Capmk upgraded CNH GLOBAL N V Foreign from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Finally, Evercore ISI raised their target price on CNH GLOBAL N V Foreign from $11.00 to $13.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.75.

CNH GLOBAL N V Foreign Stock Performance

Shares of NYSE CNH opened at $13.31 on Thursday. The stock has a fifty day moving average price of $12.09 and a two-hundred day moving average price of $12.01. The company has a debt-to-equity ratio of 3.54, a quick ratio of 10.83 and a current ratio of 13.21. The firm has a market cap of $16.63 billion, a P/E ratio of 12.92 and a beta of 1.50. CNH GLOBAL N V Foreign has a 1 year low of $9.28 and a 1 year high of $13.87.

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

CNH GLOBAL N V Foreign Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Friday, May 30th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.25 per share. This represents a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, May 21st. CNH GLOBAL N V Foreign’s payout ratio is currently 57.32%.

Insider Buying and Selling at CNH GLOBAL N V Foreign

In other news, insider Kelly Manley sold 3,575 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $12.70, for a total transaction of $45,402.50. Following the completion of the sale, the insider now directly owns 161,473 shares of the company’s stock, valued at $2,050,707.10. This trade represents a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gerrit A. Marx sold 320,472 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.64, for a total value of $3,730,294.08. Following the sale, the chief executive officer now directly owns 375,136 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders sold 432,098 shares of company stock valued at $5,071,583. 1.00% of the stock is owned by corporate insiders.

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.