Groupama Asset Managment lessened its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 56.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,351 shares of the company's stock after selling 3,023 shares during the quarter. Groupama Asset Managment's holdings in Cummins were worth $819,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Global Trust Asset Management LLC raised its holdings in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after acquiring an additional 28 shares in the last quarter. BankPlus Trust Department acquired a new stake in Cummins in the fourth quarter valued at $26,000. Compass Financial Services Inc purchased a new stake in shares of Cummins during the 4th quarter worth approximately $27,000. Meeder Asset Management Inc. boosted its holdings in shares of Cummins by 208.0% in the 4th 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 purchased a new position in shares of Cummins in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 83.46% of the company's stock.
Cummins Price Performance
NYSE CMI traded down $8.19 during mid-day trading on Monday, hitting $269.43. The stock had a trading volume of 730,069 shares, compared to its average volume of 804,967. The company has a market cap of $37.11 billion, a price-to-earnings ratio of 9.51, a P/E/G ratio of 2.19 and a beta of 1.07. Cummins Inc. has a 52-week low of $261.51 and a 52-week high of $387.90. The company has a 50 day simple moving average of $345.89 and a 200 day simple moving average of $348.94. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.
Cummins (NYSE:CMI - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating analysts' consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm had revenue of $8.45 billion for the quarter, compared to analysts' expectations of $8.06 billion. During the same quarter in the prior year, the firm earned $4.14 EPS. Cummins's quarterly revenue was down 1.1% on a year-over-year basis. Equities analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.
Cummins Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders 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 yield of 2.70%. Cummins's dividend payout ratio (DPR) is 25.84%.
Analysts Set New Price Targets
Several research firms have issued reports on CMI. JPMorgan Chase & Co. decreased their price objective on shares of Cummins from $420.00 to $375.00 and set a "neutral" rating for the company in a research note on Tuesday, March 18th. Evercore ISI upped their target price on Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. StockNews.com lowered Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Bank of America raised Cummins from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Citigroup cut their target price on shares of Cummins from $430.00 to $360.00 and set a "buy" rating on the stock in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $370.33.
Check Out Our Latest Stock Analysis on Cummins
Cummins Profile
(
Free Report)
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.
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