Thompson Siegel & Walmsley LLC Has $4.38 Million Stock Position in Cummins Inc. (NYSE:CMI)

Thompson Siegel & Walmsley LLC boosted its position in shares of Cummins Inc. (NYSE:CMI) by 18.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,570 shares of the company’s stock after purchasing an additional 1,931 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Cummins were worth $4,382,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CMI. Global Trust Asset Management LLC raised its holdings in Cummins by 59.6% during 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 in the last quarter. BankPlus Trust Department bought a new position in Cummins during the fourth quarter valued at about $26,000. Compass Financial Services Inc bought a new position in Cummins during the fourth quarter valued at about $27,000. SBI Securities Co. Ltd. bought a new position in Cummins during the fourth quarter valued at about $30,000. Finally, Prospera Private Wealth LLC bought a new position in Cummins during the third quarter valued at about $32,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Trading Down 5.5 %

Shares of CMI opened at $312.65 on Friday. Cummins Inc. has a 12-month low of $260.88 and a 12-month high of $387.90. 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 firm has a market capitalization of $42.98 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 2.19 and a beta of 1.01. The stock’s 50-day moving average price is $360.03 and its 200 day moving average price is $346.51.

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

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were paid a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.33%. Cummins’s dividend payout ratio is 25.84%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and raised their target price for the company from $355.00 to $420.00 in a report on Monday, December 9th. Jefferies Financial Group raised their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Evercore ISI lifted their price objective on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Barclays lifted their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $386.67.

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.