Wellington Management Group LLP increased its position in shares of CNH Industrial N.V. (NYSE:CNH – Free Report) by 13.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 6,596,942 shares of the company’s stock after acquiring an additional 759,512 shares during the period. Wellington Management Group LLP’s holdings in CNH Industrial were worth $74,084,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNH. Public Employees Retirement System of Ohio purchased a new stake in shares of CNH Industrial in the 2nd quarter valued at approximately $2,788,000. Parvin Asset Management LLC acquired a new stake in shares of CNH Industrial in the 2nd quarter valued at about $549,000. Manning & Napier Advisors LLC purchased a new position in shares of CNH Industrial during the second quarter worth approximately $556,000. Great Lakes Advisors LLC acquired a new position in CNH Industrial in the second quarter valued at $30,453,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in CNH Industrial during the 2nd quarter valued at approximately $3,361,000. Hedge funds and other institutional investors own 59.88% of the company’s stock.
CNH Industrial Trading Up 9.5%
NYSE CNH opened at $13.69 on Thursday. The company has a market capitalization of $16.94 billion, a price-to-earnings ratio of 54.74, a price-to-earnings-growth ratio of 2.20 and a beta of 1.17. CNH Industrial N.V. has a 12 month low of $9.00 and a 12 month high of $13.89. The company’s fifty day moving average price is $10.92 and its two-hundred day moving average price is $10.93. The company has a debt-to-equity ratio of 3.33, a current ratio of 12.23 and a quick ratio of 10.16.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of CNH Industrial from $9.50 to $10.00 and gave the stock an “underweight” rating in a research report on Monday, July 13th. Evercore upgraded CNH Industrial from an “in-line” rating to an “outperform” rating and set a $18.00 target price on the stock in a research report on Wednesday. Robert W. Baird raised shares of CNH Industrial from a “neutral” rating to an “outperform” rating and set a $15.00 price objective for the company in a research note on Monday. The Goldman Sachs Group cut CNH Industrial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $12.00 to $10.50 in a research report on Monday, May 11th. Finally, DA Davidson reiterated a “neutral” rating and issued a $12.00 price target on shares of CNH Industrial in a report on Wednesday, August 19th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.10.
Get Our Latest Analysis on CNH Industrial
CNH Industrial Profile
CNH Industrial N.V. is a global capital goods company specializing in the design, production and sale of agricultural and construction equipment, commercial vehicles and powertrain solutions. The firm operates through five core brands—Case IH and New Holland for agricultural machinery, Case and New Holland for construction equipment, Iveco for light, medium and heavy commercial vehicles, and FPT Industrial for engines and drivetrain components. Established in 2013 through the combination of Fiat Industrial and CNH Global, the company draws on a rich heritage of innovation dating back to pioneering landmarks in farm and construction machinery from the 19th century.
The company’s product portfolio encompasses tractors, combines, balers, excavators, backhoe loaders, trucks, vans and bespoke engines for marine, automotive and industrial markets.
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