Franklin Resources Inc. lessened its stake in shares of Cummins (NYSE:CMI) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,170,885 shares of the company’s stock after selling 1,454 shares during the period. Franklin Resources Inc. owned approximately 1.31% of Cummins worth $383,464,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Hall Laurie J Trustee increased its holdings in shares of Cummins by 841.7% in the 4th quarter. Hall Laurie J Trustee now owns 2,260 shares of the company’s stock worth $101,000 after purchasing an additional 2,020 shares in the last quarter. Risk Paradigm Group LLC bought a new stake in shares of Cummins in the 4th quarter worth $127,000. Bank of Nova Scotia Trust Co. bought a new stake in shares of Cummins in the 3rd quarter worth $168,000. Krilogy Financial LLC bought a new stake in shares of Cummins in the 3rd quarter worth $168,000. Finally, EagleClaw Capital Managment LLC bought a new stake in shares of Cummins in the 3rd quarter worth $201,000. 84.17% of the stock is owned by institutional investors.
A number of research firms have commented on CMI. ValuEngine raised Cummins from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Barclays reissued an “equal weight” rating and issued a $191.00 target price (up previously from $180.00) on shares of Cummins in a report on Wednesday, January 24th. Oppenheimer lifted their target price on Cummins to $207.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $182.00 price objective on shares of Cummins in a report on Monday, February 5th. Finally, Citigroup lifted their price objective on Cummins from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company’s stock. Cummins has an average rating of “Hold” and a consensus price target of $186.39.
NYSE CMI traded down $3.36 on Monday, hitting $158.73. 1,290,419 shares of the company traded hands, compared to its average volume of 1,669,668. The company has a market capitalization of $26,855.60, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.13 and a beta of 1.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.01 and a current ratio of 1.57. Cummins has a 52-week low of $143.83 and a 52-week high of $194.18.
Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.65 by $0.38. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.23 billion. Cummins had a return on equity of 22.18% and a net margin of 4.89%. Cummins’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.25 earnings per share. sell-side analysts forecast that Cummins will post 12.55 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 8th. Investors of record on Friday, February 23rd were given 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 yield of 2.72%. Cummins’s dividend payout ratio (DPR) is presently 40.68%.
Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.
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