Bbva Compass Bancshares Inc. decreased its position in Cummins Inc. (NYSE:CMI) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,095 shares of the company’s stock after selling 414 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Cummins were worth $1,607,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Advisor Partners LLC raised its position in Cummins by 8.1% in the fourth quarter. Advisor Partners LLC now owns 3,596 shares of the company’s stock valued at $680,000 after purchasing an additional 269 shares during the period. Baird Financial Group Inc. raised its position in Cummins by 1.1% in the fourth quarter. Baird Financial Group Inc. now owns 28,069 shares of the company’s stock valued at $4,958,000 after purchasing an additional 310 shares during the period. Kessler Investment Group LLC raised its position in Cummins by 1.8% in the fourth quarter. Kessler Investment Group LLC now owns 18,785 shares of the company’s stock valued at $3,318,000 after purchasing an additional 329 shares during the period. Jacobs & Co. CA raised its position in Cummins by 1.3% in the fourth quarter. Jacobs & Co. CA now owns 25,673 shares of the company’s stock valued at $4,483,000 after purchasing an additional 330 shares during the period. Finally, Hartford Investment Management Co. raised its position in Cummins by 1.0% in the third quarter. Hartford Investment Management Co. now owns 34,314 shares of the company’s stock valued at $5,766,000 after purchasing an additional 349 shares during the period. 82.69% of the stock is currently owned by institutional investors.
Shares of Cummins Inc. (CMI) opened at $170.06 on Wednesday. Cummins Inc. has a 12-month low of $143.83 and a 12-month high of $194.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.01 and a current ratio of 1.57. The firm has a market capitalization of $28,180.00, a price-to-earnings ratio of 28.63, a PEG ratio of 1.19 and a beta of 1.14.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Friday, February 23rd will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.54%. Cummins’s payout ratio is currently 72.73%.
A number of analysts have issued reports on CMI shares. Seaport Global Securities reissued a “neutral” rating on shares of Cummins in a research report on Tuesday, January 16th. Stifel Nicolaus reissued a “hold” rating and issued a $190.00 target price (up previously from $186.00) on shares of Cummins in a research report on Wednesday, November 1st. Zacks Investment Research lowered Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Citigroup boosted their target price on Cummins from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Finally, BMO Capital Markets boosted their target price on Cummins from $185.00 to $190.00 and gave the company a “market perform” rating in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. Cummins currently has a consensus rating of “Hold” and an average price target of $188.47.
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Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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