CNHI News and Headlines - CNH Industrial NV

GuruFocus Articles Total 80
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Guru stock highlight

CNH Industrial (CNHI) (23%, 1.19%), one of the world's largest agriculture machinery manufacturers, was another top contributor. CNH reported strong fourth quarter results, beating the consensus on every metric. The Agricultural Equipment (Ag) business, which represents the majority of our value, posted strong top-line growth of 19% YoY thanks to rising commodity prices, growing trade with China and the replacement of aging machinery fleets. Visibility for the first half of 2021 is strong, given solid Ag order growth across most key end markets, and we expect to see operational turnarounds in CNH's other businesses. The company is also guiding

5 Views    Sydnee Gatewood    2021-04-15 19:58

The stock of CNH Industrial NV (NYSE:CNHI, 30-year Financials) gives every indication of being significantly overvalued, according to GuruFocus Value calculation. GuruFocus Value is GuruFocus' estimate of the fair value at which the stock should be traded. It is calculated based on the historical multiples that the stock has traded at, the past business growth and analyst estimates of future business performance. If the price of a stock is significantly above the GF Value Line, it is overvalued and its future return is likely to be poor. On the other hand, if it is significantly below the GF

0 Views    GF Value    2021-04-08 09:12
Oakmark International Fund boosts 2 health care positions

David Herro (Trades, Portfolio), a portfolio manager of the Oakmark International Fund, disclosed this week that the fund's top five trades during the fourth quarter included purchases in the shares of Bayer AG (XTER:BAYN) and Roche Holding AG (XSWX:RO) and the reduction of its positions in BNP Paribas (XPAR:BNP), Baidu Inc. (BIDU) and CNH Industrial NV (MIL:CNHI).

Part of Chicago-based Oakmark Funds, the Oakmark International Fund seeks long-term capital appreciation by buying shares in businesses that are trading at discounts to intrinsic value yet have potential for shareholder value growth over time. Key criteria include good business

597 Views    James Li    2021-03-03 20:59
Guru stock highlight

CNH Industrial NV (1.0% of net assets as of December 31, 2020) (CNHI) (CNHI – $12.84 – NYSE), with headquarters in London, England, and Burr Ridge, Illinois, is a global capital equipment manufacturer that was demerged from parent Fiat in 2013. CNHI is unique in that it has leading positions in a variety of global machinery markets. It is best known for its agricultural equipment business, consisting of Case IH, New Holland Agriculture, and Steyr brands. The company's other businesses include IVECO, a leading global truck and bus manufacturer, as well as Case and New Holland construction machinery. Finally,

50 Views    Sydnee Gatewood    2021-03-02 22:08
Discussion of markets and holdings

INVESTMENT SCORECARD

Sony Corp. (3.0% of net assets as of December 31, 2020, +33%), was the largest contributor to fourth quarter and annual returns as its latest generation PlayStation 5 game console launched with great fanfare, and the company's sensor business stands to benefit from a new smartphone cycle and increased automotive production. Industrial firms such as AMETEK (3%, +22%), Deere & Co. (2%, +22%), CNH Industrial (1%, +64%), and Crane Corp. (1%, +56%) rose in anticipation of renewed economic growth, stemming particularly from rising crop prices and a resumption in aerospace spending. Media companies Walt Disney Company (1%, +46%),

85 Views    Sydnee Gatewood    2021-03-02 22:00
Discussion of markets and holdings

4th Quarter 2020

The cork came off of the champagne bottle in public equity markets during the fourth quarter as vaccine approvals propelled many market indices to new all-time highs, a remarkable achievement in light of the challenges of the last nine months. Proponents of value investing were particularly encouraged as the vaccine news ignited a powerful rally in so called "value stocks," which in the past have often performed relatively better than their growth counterparts during a robust economic recovery. Many market observers are expecting just such a recovery on the heels of the vaccine roll-out in the coming

243 Views    Sydnee Gatewood    2021-02-04 22:50
Guru stock highlight

CNH Industrial (CNHI) (15%, 0.76%; 63%, 3.24%), one of the world's largest agriculture machinery manufacturers, was another top contributor for the quarter, taking it into positive territory for the year. CNH started off the year with the worse-than-expected first quarter results caused by COVID-related demand disruption and production shutdowns starting in March. Margins across all segments were down primarily due to operating deleverage and cash flows deteriorating as sales and EBITDA collapsed, exacerbating the working capital drain. However, CNH showed strong sequential improvements, posting strong 2Q and 3Q results which far exceeded market consensus and management's initial conservative outlook.

34 Views    Sydnee Gatewood    2021-01-19 16:40
Discussion of markets and holdings

Remarkable Quarter Ends a Remarkable Year

As 2020 ended, many saluted the turn of the calendar with relief and gratitude. Speaking only as managers of the Global Fund, however, we were sorry to see the December quarter come to a close given the Fund's strong three-month return. Many factors combined to create a positive market environment in the period, especially the approval of several vaccines to prevent the spread of Covid-19. Also, after months of arduous negotiations, the U.K. and European Union finally reached an agreement that eliminated the possibility of a "hard Brexit" outcome. In the U.S., the four-year

88 Views    Sydnee Gatewood    2021-01-11 21:29
Guru stock highlight

CNH Industrial (CNHI) is a company we know well, in which we already invested almost 10 years ago, and whose stock has plummeted by nearly 50% since the beginning of the Covid-19 pandemic outbreak. Its main business is the manufacture of agricultural machinery, a global oligopoly with significant entry barriers and where CNH ranks second after the world leader, John Deere.

From azValor Asset Management's second-quarter 2020 letter.

32 Views    Sydnee Gatewood    2020-08-07 20:58
Discussion of markets and holdings

Seldom have we seen the rise of a phoenix the likes of which we witnessed in the second quarter in global equity markets, particularly in capitalization-weighted indices. For the average stock, it has been somewhat of a different story. While many, if not most, sectors, industry groups, and stocks participated in the recovery in stock prices, the strongest returns were concentrated in technology stocks, particularly those dominant U.S. companies we know so well. Economically sensitive stocks, in general, once again took a backseat to their higher growth brethren. It has led to a bifurcated market where the spread between growth

97 Views    Sydnee Gatewood    2020-07-31 20:18
Guru stock highlight

CNH Industrial (CNHI) (-48%, -3.21%), one of the world’s largest agriculture machinery manufacturers, was another top detractor for the quarter. CNH reported a weak fourth quarter, which was in line with our expectations given challenging end markets due to US-China trade war, weather and soft commodity prices. However, the company disappointed by revising down the 2020 earnings per share (EPS) guidance by 16% versus what was communicated to the markets in late 2019. CNH has not executed well in recent months, leading to inventory build-up and delay in delivery of cost efficiency targets. The stock came under added selling

59 Views    Sydnee Gatewood    2020-04-14 21:51
Discussion of markets and holdings

Longleaf Partners Fund declined -28.87% in the first quarter, while the S&P 500 Index fell -19.60%. As the largest shareholder group in the Fund, we are disappointed in both our absolute and relative results. While looking to the future does not lessen or excuse the near-term performance pain, we are more excited for the long-term prospects of our portfolio than we have been in over a decade. As global markets have been rocked by extreme uncertainty and fear in the last two months, we have seen a rapid rise in stock price volatility and a steep decline in investor sentiment.

145 Views    Sydnee Gatewood    2020-04-14 21:09
Discussion of markets and holdings

As [url=https://www.gurufocus.com/StockBuy.php?GuruName=David+Herro]David Herro[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=David+Herro]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=David+Herro]Portfolio[/url]) wrote in his lead letter, it was a difficult quarter for global markets and the Oakmark Global Select Fund was not exempt. The Fund declined 30.7% for the quarter ended March 31, compared to the MSCI World ex U.S. Index, which lost 21.1%. Since the Fund’s inception in October 2006, it has returned an average of 4.8% per year. The top contributor for both the quarter and the past six months was Regeneron Pharmaceuticals (REGN) (U.S.), while the largest detractor for the same time periods was CNH Industrial (CNHI) (U.K.).

While we are disappointed

97 Views    Sydnee Gatewood    2020-04-08 16:33
The Peter Lynch charts show these stocks as being undervalued

Screening for stocks that more than double the earnings return that 20-year high-quality corporate bonds grant to their holders (an average monthly spot rate of 3.48%) increases the likelihood of finding value opportunities.

The 20-year high-quality corporate bonds represent corporate loans issued by triple-A, double-A and single-A companies. The following stocks are trading their earnings for less than 14.37 times their price, according to the earnings yield (which is the inverse of the price-earnings ratio).

CNH Industrial

Shares of CNH Industrial N.V. (CNHI) closed at $11.01 on Tuesday for a market capitalization of $14.87

103 Views    Alberto Abaterusso    2019-10-30 15:13
Company cuts earnings forecast

Farm and construction machinery and equipment manufacturer Caterpillar Inc. (CAT) reported disappointing second-quarter results before the opening bell on Wednesday, sending shares 6.7% lower in premarket trading.

The Deerfield, Illinois-based company posted earnings of $2.83 per share, falling short of Refinitiv’s estimates of $3.12. Revenue grew 3% from the prior-year quarter to $14.43 billion, just shy of expectations of $14.44 billion.

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Affected by the ongoing trade conflict between the U.S. and China, Caterpillar said its results were hurt by higher manufacturing and material costs as well as tariffs, variable labor and burden and warranty

154 Views    Sydnee Gatewood    2019-07-24 18:10
Fund's top buys include two U.K.-based companies and one Chinese online media platform

The Tweedy Browne (Trades, Portfolio) Global Value Fund disclosed this week its top three buys for the second quarter included a new position in Euromoney Institutional Investor PLC (LSE:ERM) and position boosts in the following two companies: CNH Industrial NV (CNHI) and Baidu Inc. (BIDU).

The fund’s managing directors seek long-term capital appreciation through a Benjamin Graham, value-oriented approach, investing primarily in non-U.S. securities that are undervalued, with some exposure to U.S. securities. As of quarter-end, the $7.64 billion equity portfolio contains 88 stocks, with approximately 24.85% exposure in the financial services sector and 20.03% exposure in

367 Views    James Li    2019-07-10 21:08
Guru stock highlight

CNH Industrial (NYSE:CNHI) was created in the Fiat Industrial and CNH merger conducted by John Elkann, who is Chairman of controlling owner EXOR. The opportunity remains to further simplify the company by separating its valuable Agriculture business from the non-core Commercial Vehicles and Construction segments.

From Longleaf Partners' second-quarter 2019 shareholder commentary.

19 Views    Holly LaFon    2019-07-10 19:48
Guru stock highlight

CNH Industrial NV (CNHI) (0.7%) (CNHI – $10.20/€9.06 – NYSE/Borsa Italiana Milan) with headquarters in London, England, and Burr Ridge, Illinois, is a global capital equipment manufacturer that was demerged from parent Fiat in 2013. CNHI is unique in that it has leading positions in a variety of global machinery markets. It is best known for its agricultural equipment business, consisting of Case IH, New Holland Agriculture, and Steyr brands. The company’s other businesses include Iveco, a leading global truck and bus manufacturer, as well as Case and New Holland construction machinery. Finally, FPT Industrial provides engines and transmissions

71 Views    Holly LaFon    2019-06-19 19:30
Guru stock highlight

CNH (Global Value Fund, Global Value Fund II, and Value Fund). CNH Industrial (NYSE:CNHI) consists of Fiat’s former industrial assets: Case New Holland (global agricultural and construction equipment), Iveco (European commercial trucking) and Fiat Powertrain (industrial engines). The business has a captive finance company as well. CNH was created in 2013 when Fiat’s controlling shareholder, the Agnelli family, separated Fiat’s auto and industrial assets in order to better enable a broader restructuring of the various businesses. The industrial assets were combined into a single entity because they could leverage a common engine platform (the powertrain business). Following

45 Views    Holly LaFon    2019-06-05 19:56
Discussion of investing and holdings

Investment Adviser’s Letter to Shareholders

Basically, price fluctuations have only one significant meaning for the true investor. They provide him with an opportunity to buy wisely when prices fall sharply, and to sell wisely when they advance a great deal. At other times, he will do better if he forgets about the stock market and pays attention to his dividend returns and to the operating results of his companies.

– Benjamin Graham,

The Intelligent Investor – Revised Third Edition (1965)

To Our Shareholders:

It was quite a roller coaster ride for global equity markets in 2018. After gaining increasing momentum

141 Views    Holly LaFon    2019-06-04 20:12

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