US Bancorp DE Sells 681 Shares of Cummins Inc. (NYSE:CMI)

US Bancorp DE cut its stake in Cummins Inc. (NYSE:CMI - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,238 shares of the company's stock after selling 681 shares during the quarter. US Bancorp DE owned 0.05% of Cummins worth $26,228,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in Cummins during the 4th quarter worth $71,279,000. Fisher Asset Management LLC boosted its holdings in Cummins by 5.8% during the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company's stock worth $973,174,000 after purchasing an additional 165,398 shares during the last quarter. State Street Corp boosted its holdings in Cummins by 2.1% during the third quarter. State Street Corp now owns 6,300,051 shares of the company's stock worth $2,039,894,000 after purchasing an additional 126,703 shares during the last quarter. Bank of New York Mellon Corp grew its position in Cummins by 14.0% in the 4th quarter. Bank of New York Mellon Corp now owns 981,766 shares of the company's stock worth $342,244,000 after purchasing an additional 120,579 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Cummins by 74.2% in the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company's stock valued at $79,017,000 after buying an additional 99,464 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Barclays upped their target price on Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Vertical Research lowered Cummins from a "buy" rating to a "hold" rating and set a $350.00 target price for the company. in a research report on Wednesday, November 6th. Citigroup lowered their target price on Cummins from $435.00 to $430.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group increased their price target on shares of Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, StockNews.com cut shares of Cummins from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $386.67.

Cummins Price Performance

CMI traded down $12.37 during trading on Monday, reaching $355.81. 625,843 shares of the company were exchanged, compared to its average volume of 832,796. Cummins Inc. has a 12-month low of $260.88 and a 12-month high of $387.90. The company's 50-day moving average is $362.32 and its two-hundred day moving average is $344.91. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The company has a market cap of $48.92 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 2.19 and a beta of 1.00.

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

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, February 21st. Cummins's dividend 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.