Lucid files for 1-for-10 reverse stock split requiring shareholder approval
Jay Schroeder, Chief Technology Officer of CNH Industrial (BIT:CNHI) N.V. (NYSE:CNH), a $15.2 billion machinery company whose stock has declined 7.5% in the past week, recently executed a series of stock transactions, as disclosed in a recent SEC filing. According to InvestingPro analysis, the stock currently trades above its Fair Value. On March 4, Schroeder sold a total of 2,090 common shares at a price of $11.64 per share, amounting to $24,327. These transactions were conducted to cover tax withholding obligations linked to the vesting of performance share units (PSUs). The company maintains strong liquidity with a current ratio of 5.11, indicating robust financial health.
Earlier, on February 28, Schroeder acquired 5,490 common shares at no cost, following the vesting of PSUs under CNH Industrial’s Long-Term Incentive Plans for 2022-2024 and 2023-2025. These acquisitions were a result of achieving specific performance criteria.
Following these transactions, Schroeder holds 26,766.432 shares directly. The transactions reflect routine adjustments related to the company’s incentive and tax obligations.
In other recent news, CNH Industrial has reported significant financial developments impacting its performance outlook. The company experienced a 23% decline in revenue for 2024, with S&P Global Ratings revising its outlook to negative due to a sharper-than-expected downturn in the agricultural equipment sector. Despite this, CNH Industrial managed to achieve $600 million in run rate savings by the end of 2024, contributing to structural cost reductions. Analysts at CFRA have raised the stock target to $13, maintaining a Hold rating, while Citi increased its price target to $15, citing effective inventory management and positive segment margin guidance. DA Davidson also adjusted its price target to $14, reflecting cautious optimism about the company’s future prospects.
Baird analysts downgraded CNH Global from Outperform to Neutral, lowering the price target to $15, reflecting concerns about near-term growth prospects. The downgrade follows CNH Global’s fourth-quarter earnings call, where challenges in predicting a market recovery by 2026 were discussed. Meanwhile, Citi analyst Kyle Menges noted positive developments in inventory management and cost-reduction efforts, despite reducing EPS estimates for the coming years. These developments indicate a mixed outlook for CNH Industrial, with analysts and investors closely watching the company’s performance in the face of ongoing market challenges.
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