Summit Asset Management LLC Has $1.27 Million Stake in CNH Industrial N.V. $CNH

Summit Asset Management LLC grew its position in CNH Industrial N.V. (NYSE:CNH) by 8.9% during the second quarter, HoldingsChannel.com reports. The firm owned 98,000 shares of the company’s stock after buying 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 hedge funds have also modified their holdings of CNH. Callan Family Office LLC increased its position in shares of CNH Industrial by 324.7% in the second quarter. Callan Family Office LLC now owns 88,528 shares of the company’s stock valued at $1,147,000 after acquiring an additional 67,684 shares during the last quarter. Teacher Retirement System of Texas bought a new position in CNH Industrial in the first quarter valued at approximately $1,570,000. Polianta Ltd acquired a new position in shares of CNH Industrial during the 2nd quarter worth approximately $1,310,000. Y Intercept Hong Kong Ltd acquired a new position in shares of CNH Industrial during the 2nd quarter worth approximately $7,981,000. Finally, Strs Ohio raised its stake in shares of CNH Industrial by 41.8% during the 2nd quarter. Strs Ohio now owns 193,543 shares of the company’s stock worth $2,508,000 after purchasing an additional 57,080 shares in the last quarter. 59.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CNH shares. Barclays decreased their target price on shares of CNH Industrial from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Raymond James Financial lowered their price objective on shares of CNH Industrial from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Truist Financial cut their target price on shares of CNH Industrial from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. The Goldman Sachs Group downgraded CNH Industrial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $12.50 to $11.50 in a research report on Wednesday, July 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CNH Industrial in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.65.

CNH Industrial Trading Down 6.0%

NYSE:CNH opened at $9.65 on Friday. The business’s 50-day moving average is $10.77 and its two-hundred day moving average is $12.04. The firm has a market capitalization of $12.07 billion, a PE ratio of 14.84 and a beta of 1.52. CNH Industrial N.V. has a 12 month low of $9.00 and a 12 month 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.

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

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.