Sterling Capital Management LLC decreased its position in shares of Cummins Inc. (NYSE:CMI) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,005 shares of the company’s stock after selling 1,170 shares during the quarter. Sterling Capital Management LLC’s holdings in Cummins were worth $9,363,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Risk Paradigm Group LLC acquired a new position in shares of Cummins during the fourth quarter valued at $127,000. Bank of Nova Scotia Trust Co. acquired a new stake in Cummins in the third quarter worth about $168,000. Krilogy Financial LLC acquired a new stake in Cummins in the third quarter worth about $168,000. SeaCrest Wealth Management LLC acquired a new stake in Cummins in the fourth quarter worth about $205,000. Finally, Stock Yards Bank & Trust Co. acquired a new stake in Cummins in the fourth quarter worth about $206,000. 84.16% of the stock is owned by institutional investors.
Cummins stock opened at $161.48 on Thursday. Cummins Inc. has a 1-year low of $143.83 and a 1-year high of $194.18. The company has a market capitalization of $26,675.01, a P/E ratio of 27.14, a PEG ratio of 1.13 and a beta of 1.19. The company has a current ratio of 1.57, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19.
Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $3.03 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.38. Cummins had a return on equity of 22.18% and a net margin of 4.89%. The company had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same period in the previous year, the company earned $2.25 earnings per share. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. equities research analysts anticipate that Cummins Inc. will post 12.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Stockholders of record on Friday, February 23rd were issued a dividend of $1.08 per share. The ex-dividend date was Thursday, February 22nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.68%. Cummins’s dividend payout ratio (DPR) is presently 72.61%.
CMI has been the subject of several research analyst reports. Bank of America raised shares of Cummins from a “neutral” rating to a “buy” rating and set a $215.00 price objective for the company in a report on Friday, January 19th. Morgan Stanley initiated coverage on Cummins in a report on Friday, March 2nd. They set an “equal weight” rating and a $173.00 price objective on the stock. Seaport Global Securities reiterated a “neutral” rating on shares of Cummins in a report on Tuesday, January 16th. Zacks Investment Research downgraded Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Finally, ValuEngine cut Cummins from a “buy” rating to a “hold” rating in a research note on Saturday, November 25th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company. Cummins presently has an average rating of “Hold” and a consensus target price of $186.39.
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Cummins Company Profile
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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