Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $10.17 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its stake in Cummins Inc. (NYSE:CMI) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,169 shares of the company’s stock after selling 665 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Cummins were worth $10,168,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Global Trust Asset Management LLC increased its stake in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares during the period. KG&L Capital Management LLC increased its stake in shares of Cummins by 0.8% in the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after buying an additional 28 shares during the period. Signaturefd LLC increased its stake in shares of Cummins by 0.9% in the fourth quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock valued at $1,155,000 after buying an additional 28 shares during the period. Massachusetts Wealth Management increased its stake in shares of Cummins by 0.6% in the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after buying an additional 30 shares during the period. Finally, Avestar Capital LLC increased its stake in shares of Cummins by 3.2% in the fourth quarter. Avestar Capital LLC now owns 987 shares of the company’s stock valued at $344,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Down 1.1 %

Shares of NYSE:CMI opened at $321.78 on Friday. The business’s 50 day simple moving average is $355.99 and its two-hundred day simple moving average is $347.12. The firm has a market cap of $44.24 billion, a P/E ratio of 11.42, a PEG ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. Cummins Inc. has a 52-week low of $261.51 and a 52-week high of $387.90.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same quarter last year, the company earned $4.14 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, research analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.26%. Cummins’s dividend payout ratio is presently 25.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CMI shares. JPMorgan Chase & Co. decreased their target price on Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research note on Tuesday. UBS Group decreased their target price on Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday. Jefferies Financial Group raised their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Robert W. Baird raised their target price on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Citigroup decreased their target price on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $389.50.

Cummins Company 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.