Fmr LLC Has $433.09 Million Position in Cummins Inc. (NYSE:CMI)

FMR LLC boosted its stake in Cummins Inc. (NYSE:CMI - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,242,362 shares of the company's stock after acquiring an additional 67,266 shares during the quarter. FMR LLC owned about 0.91% of Cummins worth $433,087,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Global Trust Asset Management LLC increased its stake in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after buying an additional 28 shares during the period. BankPlus Trust Department purchased a new stake in shares of Cummins during the fourth quarter worth about $26,000. Compass Financial Services Inc purchased a new position in Cummins in the fourth quarter valued at about $27,000. Meeder Asset Management Inc. grew its stake in Cummins by 208.0% during the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after purchasing an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC purchased a new stake in Cummins during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Price Performance

Shares of NYSE CMI traded down $0.28 during mid-day trading on Tuesday, reaching $288.30. The company had a trading volume of 113,602 shares, compared to its average volume of 810,364. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $387.90. The stock has a market cap of $39.71 billion, a PE ratio of 10.24, a P/E/G ratio of 2.19 and a beta of 1.07. The company has a 50-day moving average price of $333.97 and a two-hundred day moving average price of $346.72.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly 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. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the prior year, the firm earned $4.14 EPS. The firm's quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.53%. Cummins's dividend payout ratio is 25.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Citigroup decreased their target price on Cummins from $360.00 to $320.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. StockNews.com cut Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Barclays upped their price objective on Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Cummins from $375.00 to $308.00 and set a "neutral" rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Cummins has a consensus rating of "Hold" and an average price target of $346.50.

Cummins Company Profile

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.