Franklin Resources Inc. decreased its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,170,885 shares of the company’s stock after selling 1,454 shares during the quarter. Franklin Resources Inc.’s holdings in Cummins were worth $383,464,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Risk Paradigm Group LLC bought a new stake in Cummins in the 4th quarter worth approximately $127,000. Bank of Nova Scotia Trust Co. bought a new stake in Cummins in the 3rd quarter worth approximately $168,000. Krilogy Financial LLC bought a new stake in Cummins in the 3rd quarter worth approximately $168,000. SeaCrest Wealth Management LLC bought a new stake in Cummins in the 4th quarter worth approximately $205,000. Finally, Stock Yards Bank & Trust Co. bought a new stake in Cummins in the 4th quarter worth approximately $206,000. Institutional investors own 82.82% of the company’s stock.
Shares of Cummins Inc. (NYSE CMI) opened at $162.37 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.01. Cummins Inc. has a 12-month low of $143.83 and a 12-month high of $194.18. The firm has a market capitalization of $26,901.95, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 1.13 and a beta of 1.19.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 8th. Stockholders of record on Friday, February 23rd were paid a dividend of $1.08 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $4.32 annualized dividend and a dividend yield of 2.66%. Cummins’s dividend payout ratio (DPR) is presently 72.61%.
A number of analysts recently weighed in on CMI shares. ValuEngine downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Saturday, November 25th. Goldman Sachs Group downgraded Cummins from a “buy” rating to a “neutral” rating and set a $180.00 target price for the company. in a research report on Thursday, November 30th. Oppenheimer started coverage on Cummins in a research report on Thursday, December 7th. They issued an “outperform” rating and a $192.00 target price for the company. Piper Jaffray Companies set a $175.00 target price on Cummins and gave the stock a “hold” rating in a research report on Sunday, December 10th. Finally, Barclays started coverage on Cummins in a research report on Tuesday, December 12th. They issued an “equal weight” rating and a $180.00 target price for the company. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $187.61.
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Cummins Company Profile
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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