Envestnet Asset Management Inc. Sells 394,267 Shares of CNH Industrial (NYSE:CNHI)

Envestnet Asset Management Inc. decreased its position in CNH Industrial (NYSE:CNHIGet Rating) by 81.7% during the 2nd quarter, Holdings Channel reports. The firm owned 88,197 shares of the company’s stock after selling 394,267 shares during the quarter. Envestnet Asset Management Inc.’s holdings in CNH Industrial were worth $1,022,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CNHI. Curi Wealth Management LLC bought a new stake in shares of CNH Industrial in the 1st quarter worth about $40,000. Spire Wealth Management bought a new stake in CNH Industrial during the 2nd quarter worth about $80,000. CI Investments Inc. bought a new stake in CNH Industrial during the 1st quarter worth about $116,000. Resonant Capital Advisors LLC bought a new stake in CNH Industrial during the 2nd quarter worth about $122,000. Finally, Vise Technologies Inc. bought a new stake in CNH Industrial during the 1st quarter worth about $170,000. Institutional investors own 37.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. William Blair reissued a “market perform” rating on shares of CNH Industrial in a report on Tuesday, November 8th. Robert W. Baird assumed coverage on shares of CNH Industrial in a report on Tuesday, September 27th. They set an “outperform” rating and a $17.00 price objective on the stock. Oppenheimer raised shares of CNH Industrial from a “market perform” rating to an “outperform” rating and set a $18.00 price objective on the stock in a report on Wednesday, November 9th. The Goldman Sachs Group downgraded shares of CNH Industrial from a “buy” rating to a “neutral” rating and cut their target price for the company from $14.42 to $12.14 in a research report on Sunday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of CNH Industrial from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 13th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.39.

CNH Industrial Stock Performance

Shares of NYSE:CNHI opened at $16.14 on Thursday. The company has a market capitalization of $21.70 billion, a price-to-earnings ratio of 12.71 and a beta of 1.65. The firm’s 50 day simple moving average is $12.87 and its 200 day simple moving average is $12.83. The company has a debt-to-equity ratio of 3.29, a current ratio of 6.70 and a quick ratio of 5.35. CNH Industrial has a fifty-two week low of $10.60 and a fifty-two week high of $19.69.

CNH Industrial (NYSE:CNHIGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The business had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.33 billion. CNH Industrial had a net margin of 6.77% and a return on equity of 29.47%. As a group, sell-side analysts forecast that CNH Industrial will post 1.47 earnings per share for the current year.

CNH Industrial Profile

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CNH Industrial N.V. designs, produces, markets, sells, and finances agricultural and construction equipment, trucks, commercial vehicles, buses, and specialty vehicles in North America, Europe, South America, and internationally. It operates through five segments: Agriculture, Construction, Commercial and Specialty Vehicles, Powertrain, and Financial.

Further Reading

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Institutional Ownership by Quarter for CNH Industrial (NYSE:CNHI)

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