Summit Asset Management LLC Purchases 8,000 Shares of CNH Industrial N.V. $CNH

Summit Asset Management LLC increased its position in CNH Industrial N.V. (NYSE:CNH) by 8.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,000 shares of the company’s stock after purchasing an additional 8,000 shares during the quarter. Summit Asset Management LLC’s holdings in CNH Industrial were worth $1,270,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of CNH Industrial by 186.0% in the 1st quarter. Vanguard Group Inc. now owns 90,704,159 shares of the company’s stock valued at $1,113,847,000 after purchasing an additional 58,991,632 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in CNH Industrial by 125.8% in the first quarter. Alliancebernstein L.P. now owns 18,220,662 shares of the company’s stock valued at $223,750,000 after buying an additional 10,149,760 shares during the period. Nuveen LLC bought a new position in CNH Industrial in the first quarter valued at approximately $29,143,000. Invesco Ltd. grew its holdings in CNH Industrial by 89.1% during the 1st quarter. Invesco Ltd. now owns 4,907,506 shares of the company’s stock worth $60,264,000 after acquiring an additional 2,311,887 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of CNH Industrial by 443.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,663,248 shares of the company’s stock valued at $21,556,000 after acquiring an additional 1,357,271 shares during the last quarter. 59.88% of the stock is currently owned by institutional investors and hedge funds.

CNH Industrial Trading Down 6.0%

NYSE CNH opened at $9.65 on Friday. CNH Industrial N.V. has a one year low of $9.00 and a one year high of $14.27. The company has a debt-to-equity ratio of 3.52, a current ratio of 12.33 and a quick ratio of 10.34. The firm has a market cap of $12.07 billion, a P/E ratio of 14.84 and a beta of 1.52. The stock’s 50-day moving average is $10.77 and its 200-day moving average is $12.04.

CNH Industrial (NYSE:CNH) last issued its quarterly earnings data on Friday, November 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.05). CNH Industrial had a net margin of 4.55% and a return on equity of 10.79%. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the firm posted $0.24 earnings per share. CNH Industrial’s revenue for the quarter was down 5.5% compared to the same quarter last year. CNH Industrial has set its FY 2025 guidance at 0.440-0.50 EPS. Sell-side analysts anticipate that CNH Industrial N.V. will post 0.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CNH. Weiss Ratings reissued a “hold (c)” rating on shares of CNH Industrial in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their target price on CNH Industrial from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, September 2nd. The Goldman Sachs Group cut CNH Industrial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $12.50 to $11.50 in a research note on Wednesday, July 16th. Barclays cut their price target on shares of CNH Industrial from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Finally, Oppenheimer decreased their price objective on shares of CNH Industrial from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.65.

CNH Industrial Company Profile

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.