Gabelli Funds LLC Acquires 212,750 Shares of CNH Industrial (NYSE:CNHI)

Gabelli Funds LLC lifted its holdings in CNH Industrial (NYSE:CNHI) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,380,704 shares of the company’s stock after acquiring an additional 212,750 shares during the period. CNH Industrial accounts for approximately 0.7% of Gabelli Funds LLC’s holdings, making the stock its 19th biggest holding. Gabelli Funds LLC owned 0.47% of CNH Industrial worth $97,433,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNHI. Vanguard Group Inc. increased its position in CNH Industrial by 2.7% during the third quarter. Vanguard Group Inc. now owns 35,221,420 shares of the company’s stock valued at $393,423,000 after acquiring an additional 918,910 shares during the last quarter. Perpetual Ltd bought a new stake in CNH Industrial in the first quarter worth about $395,701,000. Norges Bank purchased a new position in shares of CNH Industrial during the fourth quarter valued at approximately $265,843,000. Parnassus Investments LLC grew its stake in shares of CNH Industrial by 5.7% during the first quarter. Parnassus Investments LLC now owns 15,410,297 shares of the company’s stock valued at $235,315,000 after buying an additional 833,117 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in CNH Industrial by 64.9% during the 4th quarter. JPMorgan Chase & Co. now owns 9,661,732 shares of the company’s stock valued at $155,168,000 after acquiring an additional 3,803,258 shares during the period. Hedge funds and other institutional investors own 39.93% of the company’s stock.

CNH Industrial Stock Down 1.6 %

Shares of CNHI stock traded down $0.22 during mid-day trading on Friday, hitting $13.46. 668,016 shares of the stock traded hands, compared to its average volume of 5,456,350. CNH Industrial has a 52-week low of $10.89 and a 52-week high of $17.98. The stock has a market cap of $17.96 billion, a P/E ratio of 8.01 and a beta of 1.63. The company has a debt-to-equity ratio of 3.28, a current ratio of 7.47 and a quick ratio of 5.99. The stock’s fifty day moving average is $14.20 and its two-hundred day moving average is $14.41.

CNH Industrial (NYSE:CNHI) last posted its earnings results on Friday, July 28th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. CNH Industrial had a net margin of 9.44% and a return on equity of 31.51%. The company had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. CNH Industrial’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts predict that CNH Industrial will post 1.78 EPS for the current year.

Wall Street Analysts Forecast Growth

CNHI has been the subject of a number of recent analyst reports. Oppenheimer lowered their target price on shares of CNH Industrial from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, July 31st. Sanford C. Bernstein downgraded shares of CNH Industrial from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $17.31 to $15.11 in a research note on Monday. StockNews.com started coverage on CNH Industrial in a report on Saturday, August 19th. They issued a “hold” rating for the company. Finally, Citigroup lowered their target price on CNH Industrial from $19.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, July 18th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.02.

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.