Sumitomo Mitsui Trust Group Inc. Sells 1,658,956 Shares of CNH Industrial N.V. $CNH

Key Points

• Sumitomo Mitsui Trust Group cut its CNH Industrial stake by 95.9% in the third quarter, selling 1,658,956 shares and retaining 70,376 shares worth about $904,000.
• Institutional investors and hedge funds own 59.88% of CNH Industrial. Other firms made smaller additions or opened new positions during the periods reported.
• Analyst views are mixed, with seven Buy, six Hold, and one Sell rating; MarketBeat reports a consensus Hold rating and a $13.39 price target.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of CNH Industrial N.V. (NYSE:CNH - Free Report) by 95.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,376 shares of the company's stock after selling 1,658,956 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in CNH Industrial were worth $904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CNH. Bessemer Group Inc. increased its position in CNH Industrial by 4.0% during the 1st quarter. Bessemer Group Inc. now owns 29,415 shares of the company's stock worth $323,000 after buying an additional 1,121 shares during the period. Sax Wealth Advisors LLC lifted its holdings in shares of CNH Industrial by 8.4% during the third quarter. Sax Wealth Advisors LLC now owns 16,066 shares of the company's stock worth $206,000 after buying an additional 1,247 shares in the last quarter. Cloverfields Capital Group LP boosted its position in shares of CNH Industrial by 1.0% in the first quarter. Cloverfields Capital Group LP now owns 136,220 shares of the company's stock valued at $1,498,000 after acquiring an additional 1,304 shares during the period. Parallel Advisors LLC boosted its position in shares of CNH Industrial by 33.4% in the first quarter. Parallel Advisors LLC now owns 6,325 shares of the company's stock valued at $70,000 after acquiring an additional 1,585 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of CNH Industrial in the third quarter valued at about $26,000. 59.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CNH has been the topic of several research reports. Weiss Ratings upgraded shares of CNH Industrial from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, October 2nd. DA Davidson reiterated a "neutral" rating and issued a $12.00 price objective on shares of CNH Industrial in a research note on Wednesday, August 19th. Robert W. Baird raised shares of CNH Industrial from a "neutral" rating to an "outperform" rating and set a $15.00 price objective for the company in a report on Monday, August 31st. Citigroup increased their target price on shares of CNH Industrial from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of CNH Industrial from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Thursday, October 8th. Seven 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $13.39.

CNH Industrial Stock Performance

NYSE:CNH opened at $11.56 on Monday. The stock has a fifty day moving average price of $12.55 and a 200-day moving average price of $11.35. The company has a market cap of $14.31 billion, a price-to-earnings ratio of 46.26 and a beta of 1.23. The company has a debt-to-equity ratio of 3.33, a quick ratio of 10.16 and a current ratio of 12.23. CNH Industrial N.V. has a fifty-two week low of $9.00 and a fifty-two week high of $14.46.

CNH Industrial Profile

CNH Industrial is a global manufacturer of agricultural and construction equipment. Its agricultural brands include Case IH, New Holland Agriculture and STEYR, which offer products such as tractors, combines, harvesters, sprayers and hay tools. Its construction equipment brands include CASE Construction Equipment and New Holland Construction, with machinery such as excavators, loaders and graders.

The company also provides parts, equipment support and precision technology designed to help customers manage machinery and improve productivity.

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