Marshfield Associates trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 557,537 shares of the company’s stock after selling 8,198 shares during the period. Cummins comprises 6.4% of Marshfield Associates’ investment portfolio, making the stock its 5th largest position. Marshfield Associates owned 0.34% of Cummins worth $98,483,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. lifted its position in Cummins by 8.3% during the fourth quarter. BlackRock Inc. now owns 11,675,250 shares of the company’s stock valued at $2,062,319,000 after buying an additional 898,512 shares in the last quarter. Boston Partners lifted its position in Cummins by 33.1% during the fourth quarter. Boston Partners now owns 3,296,825 shares of the company’s stock valued at $582,351,000 after buying an additional 819,719 shares in the last quarter. Geode Capital Management LLC lifted its position in Cummins by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 2,122,029 shares of the company’s stock valued at $374,228,000 after buying an additional 59,257 shares in the last quarter. APG Asset Management N.V. lifted its position in Cummins by 5.4% during the fourth quarter. APG Asset Management N.V. now owns 2,065,872 shares of the company’s stock valued at $303,894,000 after buying an additional 105,100 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Cummins by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,991,974 shares of the company’s stock valued at $351,862,000 after buying an additional 17,704 shares in the last quarter. 84.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cummins stock opened at $162.22 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. The stock has a market cap of $26,935.13, a price-to-earnings ratio of 27.32, a P/E/G ratio of 1.14 and a beta of 1.19. Cummins Inc. has a 12 month low of $143.83 and a 12 month high of $194.18.
Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.38. The business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.23 billion. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The business’s revenue was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.25 earnings per share. analysts expect that Cummins Inc. will post 12.55 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Investors of record on Friday, February 23rd were paid a $1.08 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.66%. Cummins’s dividend payout ratio (DPR) is presently 72.61%.
A number of research firms have recently issued reports on CMI. ValuEngine upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Barclays reiterated an “equal weight” rating and set a $191.00 price objective (up previously from $180.00) on shares of Cummins in a research note on Wednesday, January 24th. Oppenheimer lifted their price objective on shares of Cummins to $207.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $182.00 price objective on shares of Cummins in a research note on Monday, February 5th. Finally, Citigroup lifted their price objective on shares of Cummins from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $186.39.
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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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