Cummins Inc. (NYSE:CMI) Shares Sold by Fiduciary Group LLC

Fiduciary Group LLC cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,071 shares of the company’s stock after selling 358 shares during the period. Fiduciary Group LLC’s holdings in Cummins were worth $1,768,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Teacher Retirement System of Texas lifted its stake in Cummins by 870.9% during the fourth quarter. Teacher Retirement System of Texas now owns 85,102 shares of the company’s stock valued at $29,667,000 after purchasing an additional 76,337 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Cummins during the fourth quarter valued at approximately $413,000. Vinva Investment Management Ltd raised its holdings in shares of Cummins by 3.0% during the fourth quarter. Vinva Investment Management Ltd now owns 5,850 shares of the company’s stock valued at $2,038,000 after acquiring an additional 169 shares during the period. North Forty Two & Co. acquired a new stake in shares of Cummins during the fourth quarter valued at approximately $503,000. Finally, Enhancing Capital LLC acquired a new stake in shares of Cummins during the fourth quarter valued at approximately $2,451,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Performance

CMI stock opened at $327.24 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $44.99 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 12 month low of $261.51 and a 12 month high of $387.90. The firm has a 50 day moving average of $357.35 and a two-hundred day moving average of $347.20.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.14 earnings per share. As a group, equities analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were given a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.22%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio is 25.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CMI shares. Evercore ISI boosted 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. Citigroup cut their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Barclays boosted their price target on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. cut their price target on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Robert W. Baird boosted 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. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $389.50.

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.