Compagnie Lombard Odier SCmA decreased its position in shares of Cummins Inc. (NYSE:CMI) by 27.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 914 shares of the company’s stock after selling 354 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Cummins were worth $162,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in shares of Cummins by 55.3% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 10,389 shares of the company’s stock valued at $1,835,000 after buying an additional 3,700 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in shares of Cummins by 89.0% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 162,200 shares of the company’s stock valued at $28,651,000 after buying an additional 76,400 shares in the last quarter. HighPoint Advisor Group LLC lifted its stake in shares of Cummins by 98.2% during the 4th quarter. HighPoint Advisor Group LLC now owns 3,494 shares of the company’s stock valued at $579,000 after buying an additional 1,731 shares in the last quarter. Csenge Advisory Group lifted its stake in shares of Cummins by 20.9% during the 4th quarter. Csenge Advisory Group now owns 7,758 shares of the company’s stock valued at $1,370,000 after buying an additional 1,343 shares in the last quarter. Finally, Lake Street Advisors Group LLC purchased a new position in shares of Cummins during the 4th quarter valued at $398,000. Institutional investors own 84.16% of the company’s stock.
Several analysts have commented on CMI shares. Goldman Sachs cut shares of Cummins from a “buy” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research note on Thursday, November 30th. Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Barclays started coverage on shares of Cummins in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $180.00 price target on the stock. Oppenheimer started coverage on shares of Cummins in a research note on Thursday, December 7th. They issued an “outperform” rating and a $192.00 price target on the stock. Finally, Bank of America upgraded shares of Cummins from a “neutral” rating to a “buy” rating and set a $215.00 price target on the stock in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $186.39.
Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.38. The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.23 billion. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.25 EPS. research analysts anticipate that Cummins Inc. will post 12.55 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Investors of record on Friday, February 23rd were issued a dividend of $1.08 per share. The ex-dividend date was Thursday, February 22nd. This represents a $4.32 annualized dividend and a yield of 2.78%. Cummins’s payout ratio is 72.61%.
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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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