CNH Industrial N.V. $CNH Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank cut its CNH stake by 66.4% in Q4, selling 850,953 shares and leaving 430,167 shares worth about $3.996 million.
• Several large institutions—State Street, Hotchkis & Wiley, AllianceBernstein, Dimensional and JPMorgan—reported sizable increases in CNH holdings, leaving institutional ownership at roughly 59.9%.
• Analysts hold a consensus Hold rating with an average price target of $12.88 (Barclays and Oppenheimer recently raised targets to $12 and $16), and CNH beat the quarter with $0.19 EPS versus $0.11 expected and revenue of $5.16B.

Zurcher Kantonalbank Zurich Cantonalbank cut its position in CNH Industrial N.V. (NYSE:CNH - Free Report) by 66.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 430,167 shares of the company's stock after selling 850,953 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in CNH Industrial were worth $3,996,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. State Street Corp increased its holdings in shares of CNH Industrial by 5.1% in the third quarter. State Street Corp now owns 37,764,717 shares of the company's stock valued at $409,747,000 after purchasing an additional 1,834,076 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of CNH Industrial by 17.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 26,070,783 shares of the company's stock valued at $282,868,000 after purchasing an additional 3,841,999 shares during the period. Alliancebernstein L.P. increased its holdings in shares of CNH Industrial by 6.3% in the third quarter. Alliancebernstein L.P. now owns 20,843,475 shares of the company's stock valued at $226,152,000 after purchasing an additional 1,239,952 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of CNH Industrial by 14.5% in the third quarter. Dimensional Fund Advisors LP now owns 18,492,138 shares of the company's stock valued at $200,646,000 after purchasing an additional 2,338,847 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of CNH Industrial by 14.8% in the third quarter. JPMorgan Chase & Co. now owns 8,328,262 shares of the company's stock valued at $90,364,000 after purchasing an additional 1,072,138 shares during the period. 59.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CNH shares. Weiss Ratings raised CNH Industrial from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, March 2nd. Barclays upped their target price on CNH Industrial from $11.00 to $12.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 1st. Wall Street Zen upgraded CNH Industrial from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. Oppenheimer upped their target price on CNH Industrial from $13.00 to $16.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 18th. Finally, iA Financial set a $13.00 target price on CNH Industrial in a research note on Wednesday, January 14th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, CNH Industrial currently has a consensus rating of "Hold" and an average price target of $12.88.

CNH Industrial Stock Down 2.5%

Shares of CNH opened at $10.24 on Friday. CNH Industrial N.V. has a 52 week low of $9.00 and a 52 week high of $14.27. The company has a quick ratio of 11.36, a current ratio of 13.34 and a debt-to-equity ratio of 3.44. The company has a market capitalization of $12.70 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.50 and a beta of 1.26. The stock's 50-day moving average price is $11.26 and its 200-day moving average price is $10.62.

CNH Industrial (NYSE:CNH - Get Free Report) last issued its earnings results on Saturday, February 14th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.08. CNH Industrial had a return on equity of 8.90% and a net margin of 2.82%.The firm had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $4.91 billion. During the same quarter in the prior year, the business earned $0.15 earnings per share. The company's revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts predict that CNH Industrial N.V. will post 0.41 EPS for the current year.

CNH Industrial Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, May 21st. This represents a yield of 89.0%. CNH Industrial's dividend payout ratio is currently 25.00%.

About CNH Industrial

CNH Industrial N.V. is a global capital goods company specializing in the design, production and sale of agricultural and construction equipment, commercial vehicles and powertrain solutions. The firm operates through five core brands—Case IH and New Holland for agricultural machinery, Case and New Holland for construction equipment, Iveco for light, medium and heavy commercial vehicles, and FPT Industrial for engines and drivetrain components. Established in 2013 through the combination of Fiat Industrial and CNH Global, the company draws on a rich heritage of innovation dating back to pioneering landmarks in farm and construction machinery from the 19th century.

The company's product portfolio encompasses tractors, combines, balers, excavators, backhoe loaders, trucks, vans and bespoke engines for marine, automotive and industrial markets.

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