Citigroup Inc. Cuts Position in CNH Industrial (NYSE:CNHI)

Citigroup Inc. decreased its position in CNH Industrial (NYSE:CNHI) by 16.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,009,848 shares of the company’s stock after selling 194,476 shares during the quarter. Citigroup Inc. owned 0.08% of CNH Industrial worth $14,542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNHI. Raymond James & Associates raised its position in CNH Industrial by 156.2% in the first quarter. Raymond James & Associates now owns 161,166 shares of the company’s stock valued at $2,556,000 after purchasing an additional 98,266 shares during the period. BlackRock Inc. increased its position in shares of CNH Industrial by 113.2% during the first quarter. BlackRock Inc. now owns 4,073,190 shares of the company’s stock worth $64,601,000 after acquiring an additional 2,162,593 shares during the period. Sei Investments Co. purchased a new stake in shares of CNH Industrial during the first quarter worth $7,668,000. Canada Pension Plan Investment Board increased its position in shares of CNH Industrial by 0.8% during the first quarter. Canada Pension Plan Investment Board now owns 703,293 shares of the company’s stock worth $11,264,000 after acquiring an additional 5,669 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of CNH Industrial by 1.8% during the first quarter. Vanguard Group Inc. now owns 33,478,435 shares of the company’s stock worth $530,969,000 after acquiring an additional 577,993 shares during the period. Hedge funds and other institutional investors own 39.93% of the company’s stock.

Analyst Upgrades and Downgrades

CNHI has been the topic of a number of recent research reports. StockNews.com initiated coverage on CNH Industrial in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Sanford C. Bernstein lowered CNH Industrial from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $17.31 to $15.11 in a research report on Monday, September 4th. Barclays cut their price objective on CNH Industrial from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 18th. Bank of America lowered their target price on shares of CNH Industrial from $17.00 to $14.00 in a research note on Wednesday, October 11th. Finally, Oppenheimer downgraded shares of CNH Industrial from an “outperform” rating to a “market perform” rating in a research note on Friday, October 20th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.37.

CNH Industrial Stock Performance

NYSE CNHI opened at $10.33 on Tuesday. The company has a debt-to-equity ratio of 3.10, a current ratio of 8.36 and a quick ratio of 6.72. CNH Industrial has a 1 year low of $9.77 and a 1 year high of $17.98. The company has a market capitalization of $13.74 billion, a PE ratio of 6.01 and a beta of 1.64. The company has a fifty day moving average of $11.63 and a two-hundred day moving average of $13.20.

CNH Industrial (NYSE:CNHI) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. CNH Industrial had a net margin of 9.45% and a return on equity of 29.90%. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.97 billion. During the same quarter in the prior year, the firm posted $0.41 earnings per share. CNH Industrial’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts expect that CNH Industrial will post 1.7 earnings per share for the current year.

CNH Industrial Profile

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.