Value Star Asset Management Hong Kong Ltd Buys Shares of 4,000 Cummins Inc. (NYSE:CMI)

Value Star Asset Management Hong Kong Ltd purchased a new position in shares of Cummins Inc. (NYSE:CMI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,000 shares of the company's stock, valued at approximately $1,394,000. Cummins comprises 4.8% of Value Star Asset Management Hong Kong Ltd's investment portfolio, making the stock its 7th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMI. Raymond James Financial Inc. acquired a new stake in shares of Cummins in the fourth quarter worth $187,082,000. Proficio Capital Partners LLC acquired a new stake in shares of Cummins in the fourth quarter worth $71,279,000. Fisher Asset Management LLC increased its position in shares of Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company's stock worth $973,174,000 after acquiring an additional 165,398 shares in the last quarter. State Street Corp increased its position in shares of Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company's stock worth $2,039,894,000 after acquiring an additional 126,703 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Cummins by 14.0% in the fourth quarter. Bank of New York Mellon Corp now owns 981,766 shares of the company's stock worth $342,244,000 after acquiring an additional 120,579 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Stock Down 0.8 %

NYSE CMI traded down $2.89 during trading hours on Friday, reaching $341.97. 1,399,031 shares of the company traded hands, compared to its average volume of 857,471. Cummins Inc. has a 12 month low of $260.88 and a 12 month high of $387.90. 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 $47.01 billion, a PE ratio of 12.14, a PEG ratio of 2.19 and a beta of 1.01. The company has a 50 day moving average of $361.77 and a two-hundred day moving average of $346.22.

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Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data 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 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 EPS. The firm's revenue was down 1.1% compared to the same quarter last year. As a group, equities analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The firm 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. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.13%. Cummins's payout ratio is currently 25.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CMI shares. StockNews.com lowered shares of Cummins from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Robert W. Baird raised their price target on shares of Cummins from $395.00 to $407.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Jefferies Financial Group raised their price target on shares of Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a report on Friday, December 6th. Bank of America raised shares of Cummins from an "underperform" rating to a "neutral" rating and raised their price target for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Evercore ISI raised their price target on shares of Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $386.67.

Cummins 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.