Earnest Partners LLC Sells 14,484 Shares of Cummins Inc. (NYSE:CMI)

Earnest Partners LLC cut its holdings in Cummins Inc. (NYSE:CMI - Free Report) by 4.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 303,636 shares of the company's stock after selling 14,484 shares during the period. Earnest Partners LLC owned 0.22% of Cummins worth $105,848,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mariner Investment Group LLC acquired a new stake in shares of Cummins during the 4th quarter worth $1,046,000. FMR LLC increased its holdings in shares of Cummins by 5.7% during the 4th quarter. FMR LLC now owns 1,242,362 shares of the company's stock worth $433,087,000 after buying an additional 67,266 shares during the last quarter. Fayez Sarofim & Co boosted its position in Cummins by 72.3% during the 4th quarter. Fayez Sarofim & Co now owns 8,195 shares of the company's stock worth $2,857,000 after purchasing an additional 3,440 shares during the period. National Bank of Canada FI boosted its position in Cummins by 4.2% during the 4th quarter. National Bank of Canada FI now owns 81,344 shares of the company's stock worth $28,359,000 after purchasing an additional 3,298 shares during the period. Finally, Franklin Resources Inc. boosted its position in Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company's stock worth $79,017,000 after purchasing an additional 99,464 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CMI. StockNews.com cut Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. Morgan Stanley dropped their price target on shares of Cummins from $425.00 to $340.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price objective on shares of Cummins from $375.00 to $308.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Barclays upped their target price on shares of Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Finally, UBS Group lowered Cummins from a "buy" rating to a "sell" rating and lowered their price objective for the company from $400.00 to $240.00 in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Cummins presently has an average rating of "Hold" and a consensus target price of $346.00.

Cummins Stock Down 0.4 %

NYSE CMI traded down $1.15 during trading on Tuesday, reaching $293.07. The company's stock had a trading volume of 1,148,829 shares, compared to its average volume of 809,803. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $40.37 billion, a PE ratio of 10.40, a PEG ratio of 2.19 and a beta of 1.07. The business has a 50-day moving average price of $314.45 and a 200-day moving average price of $343.25. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $387.90.

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

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was 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.