Bank of America Corp DE Invests $46.97 Million in CNH GLOBAL N V Foreign (NYSE:CNH)

Bank of America Corp DE acquired a new position in shares of CNH GLOBAL N V Foreign (NYSE:CNH) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,145,344 shares of the company’s stock, valued at approximately $46,967,000.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of CNH GLOBAL N V Foreign in the fourth quarter worth $30,000. International Assets Investment Management LLC acquired a new stake in shares of CNH GLOBAL N V Foreign in the fourth quarter worth $160,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of CNH GLOBAL N V Foreign in the fourth quarter worth $1,143,000. Pallas Capital Advisors LLC acquired a new stake in shares of CNH GLOBAL N V Foreign in the fourth quarter worth $380,000. Finally, 180 Wealth Advisors LLC acquired a new stake in shares of CNH GLOBAL N V Foreign in the fourth quarter worth $219,000. 59.88% of the stock is owned by institutional investors.

CNH GLOBAL N V Foreign Price Performance

NYSE CNH opened at $13.31 on Thursday. CNH GLOBAL N V Foreign has a fifty-two week low of $9.28 and a fifty-two week high of $13.87. The stock’s 50-day moving average is $12.09 and its two-hundred day moving average is $12.01. The company has a debt-to-equity ratio of 3.54, a current ratio of 13.21 and a quick ratio of 10.83. The firm has a market cap of $16.63 billion, a P/E ratio of 12.92 and a beta of 1.50.

CNH GLOBAL N V Foreign (NYSE:CNH) last posted its earnings results on Thursday, May 1st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. CNH GLOBAL N V Foreign had a return on equity of 18.00% and a net margin of 6.62%. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $4.47 billion. CNH GLOBAL N V Foreign’s revenue for the quarter was down 20.5% on a year-over-year basis. On average, analysts anticipate that CNH GLOBAL N V Foreign will post 0.7 earnings per share for the current fiscal year.

CNH GLOBAL N V Foreign Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Friday, May 30th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a yield of 3.8%. CNH GLOBAL N V Foreign’s dividend payout ratio (DPR) is currently 57.32%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CNH shares. Robert W. Baird reaffirmed a “neutral” rating and issued a $15.00 target price (down previously from $16.00) on shares of CNH GLOBAL N V Foreign in a research report on Monday, March 3rd. Evercore ISI raised their target price on CNH GLOBAL N V Foreign from $11.00 to $13.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Northland Capmk raised CNH GLOBAL N V Foreign from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. Truist Financial decreased their target price on CNH GLOBAL N V Foreign from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Northland Securities upgraded CNH GLOBAL N V Foreign from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.75.

Insider Buying and Selling at CNH GLOBAL N V Foreign

In other news, insider Kelly Manley sold 3,575 shares of CNH GLOBAL N V Foreign stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $12.70, for a total value of $45,402.50. Following the transaction, the insider now directly owns 161,473 shares in the company, valued at approximately $2,050,707.10. The trade was a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gerrit A. Marx sold 320,472 shares of CNH GLOBAL N V Foreign stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $11.64, for a total value of $3,730,294.08. Following the completion of the transaction, the chief executive officer now owns 375,136 shares in the company, valued at $4,366,583.04. The trade was a 46.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 432,098 shares of company stock worth $5,071,583 over the last three months. Corporate insiders own 1.00% of the company’s stock.

About CNH GLOBAL N V Foreign

CNH Industrial NV is an equipment and services company, which develops, manufactures and sells specialized machines and services for the farming and construction industries, and supplies replacement parts and accessories. It operates through the following operating segments: Agriculture, Construction, and Financial Services.