Cummins Inc. (NYSE:CMI) Position Reduced by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. reduced its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 604,663 shares of the company's stock after selling 20,569 shares during the quarter. Beutel Goodman & Co Ltd. owned 0.44% of Cummins worth $210,785,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMI. Hobbs Group Advisors LLC raised its stake in shares of Cummins by 82.5% during the fourth quarter. Hobbs Group Advisors LLC now owns 3,795 shares of the company's stock valued at $1,323,000 after purchasing an additional 1,716 shares during the period. Allstate Corp acquired a new stake in Cummins during the 4th quarter valued at $1,435,000. Brown Brothers Harriman & Co. increased its stake in Cummins by 5.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 3,718 shares of the company's stock worth $1,296,000 after buying an additional 179 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in Cummins in the 4th quarter worth $28,690,000. Finally, Level Four Advisory Services LLC boosted its position in Cummins by 1.8% in the 4th quarter. Level Four Advisory Services LLC now owns 20,704 shares of the company's stock valued at $7,218,000 after buying an additional 364 shares during the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays increased their price target on Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. reduced their target price on Cummins from $420.00 to $375.00 and set a "neutral" rating for the company in a research note on Tuesday, March 18th. Robert W. Baird lifted their price target on shares of Cummins from $395.00 to $407.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. StockNews.com downgraded shares of Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. Finally, Bank of America raised shares of Cummins from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Cummins has an average rating of "Hold" and an average price target of $383.67.

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Cummins Price Performance

NYSE CMI traded up $4.50 on Wednesday, reaching $319.86. The company's stock had a trading volume of 225,362 shares, compared to its average volume of 803,466. Cummins Inc. has a twelve month low of $261.51 and a twelve month high of $387.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The firm's 50 day moving average is $350.07 and its two-hundred day moving average is $349.00. The stock has a market cap of $43.97 billion, a PE ratio of 11.35, a PEG ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business's quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $4.14 earnings per share. As a group, sell-side analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Friday, February 21st. Cummins's payout ratio is 25.84%.

About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.