Harris Associates LP recently announced the acquisition of new stake in CNH Industrial NV (NYSE:CNHI). The institutional investor has increased its shareholding in the Industrials company by 21.53% to 149.58 million shares with purchase of 26.5 million shares. This fresh investment now brings its stake to 11.24% valued currently at $1.61 billion. In addition, The Vanguard Group, Inc. raised its holdings by 13.78 million to 39.79 million shares. And BlackRock Fund Advisors has lifted its position by 95.49% or 15.05 million shares – to 30.82 million shares.
With over 19.08 million CNH Industrial NV (CNHI) shares trading Friday and a closing price of $12.06 on the day, the dollar volume was approximately $230.06 million. The shares have shown a negative half year performance of -16.02% and its price on 01/05/24 gained nearly 1.34%. Currently, there are 1.34B common shares owned by the public and among those 895.41M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 20 analysts who have offered their price forecasts for CNHI have a consensus price objective of $14.97. The analysts have set the share’s price value over the next 12 months at a high of $25.00 and a low of $11.50. The average price target is 19.44% above its recent price level and a downside to the estimated low will see the stock lose -4.87% over that period. But an upside of 51.76% will see the stock hit the forecast high price target while median target price for the stock is $15.00.
Insiders at the company have transacted a total of 60 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 2,427,285 shares. Insider sales of the common stock occurred on 43 occasions, with total insider shares sold totaling 448,262 shares.
The top 3 mutual fund holders in CNH Industrial NV are Oakmark International Fund, Artisan International Value Fund, and Government Pension Fund – Global. Oakmark International Fund owns 44.3 million shares of the company’s stock, all valued at over $475.81 million. The company bought an additional 4.32 million shares recently to bring their total holdings to about 3.33% of the shares outstanding. Artisan International Value Fund bought 0.36 million shares to see its total holdings expand to 24.62 million shares valued at over $264.42 million and representing 1.85% of the shares outstanding. Government Pension Fund – Global sold -6.64 million shares to bring its total holdings to over 18.07 million shares at a value of $194.09 million. Government Pension Fund – Global now owns shares totaling to 1.36% of the shares outstanding.
Shares of CNH Industrial NV (NYSE: CNHI) opened at $11.79, down -$0.11 from a prior closing price of $11.90. However, the script later moved the day high at 12.30, up 1.34%. The company’s stock has a 5-day price change of -0.17% and 3.34% over the past three months. CNHI shares are trading -0.99% year to date (YTD), with the 12-month market performance down to -25.42% lower. It has a 12-month low price of $9.77 and touched a high of $17.98 over the same period. CNHI has an average intraday trading volume of 12.87 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.44%, 9.26%, and -7.80% respectively.
Institutional ownership of CNH Industrial NV (NYSE: CNHI) shares accounts for 47.89% of the company’s 1.34B shares outstanding. Mutual fund holders own 13.56%, while other institutional holders and individual stakeholders account for 36.18% and — respectively.
It has a market capitalization of $16.05B and a beta (3y monthly) value of 1.67. The stock’s trailing 12-month PE ratio is 6.97, while the earnings-per-share (ttm) stands at $1.73. The company has a PEG of 0.94 and a Quick Ratio of 4.55 with the debt-to-equity ratio at 3.16. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.55% over the week and 2.29% over the month.
Analysts forecast that CNH Industrial NV (CNHI) will achieve an EPS of $0.43 for the current quarter, $0.33 for the next quarter and $1.5 for 2024. The lowest estimate earnings-per-share for the quarter is $0.38 while analysts give the company a high EPS estimate of $0.48. Comparatively, EPS for the current quarter was $0.36 a year ago. Earnings per share for the fiscal year are expected to increase by 17.31%, and -9.25% over the next financial year. EPS should shrink at an annualized rate of 7.40% over the next five years, compared to 49.57% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 20 brokerage firm advisors rate CNH Industrial NV (CNHI) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 10 of the 20 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CNHI, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on December 15, 2023, with the firm’s price target at $13.
