Epoch Investment Partners Inc. Reduces Holdings in Cummins Inc. (NYSE:CMI)

Epoch Investment Partners Inc. reduced its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 344,603 shares of the company's stock after selling 8,221 shares during the period. Epoch Investment Partners Inc. owned approximately 0.25% of Cummins worth $120,129,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Global Trust Asset Management LLC lifted its position in Cummins by 59.6% in the fourth 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 last quarter. BankPlus Trust Department acquired a new position in Cummins in the fourth quarter valued at approximately $26,000. Compass Financial Services Inc purchased a new stake in Cummins in the 4th quarter valued at about $27,000. Meeder Asset Management Inc. grew its stake in shares of Cummins by 208.0% in the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after buying an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC acquired a new stake in shares of Cummins in the fourth quarter valued at $28,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Price Performance

CMI traded up $10.33 on Thursday, hitting $294.00. 299,784 shares of the stock were exchanged, compared to its average volume of 804,788. The business has a 50-day moving average of $321.43 and a two-hundred day moving average of $344.24. The firm has a market capitalization of $40.50 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 2.19 and a beta of 1.07. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion for 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 company's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.14 earnings per share. Sell-side analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were paid 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 2.48%. Cummins's payout ratio is 25.84%.

Analyst Ratings Changes

CMI has been the subject of several analyst reports. Morgan Stanley cut their target price 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. cut their price objective on Cummins from $375.00 to $308.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Barclays increased their target price on shares of Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Citigroup dropped their target price on shares of Cummins from $360.00 to $320.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, UBS Group downgraded shares of 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 research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $346.00.

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.