Cummins Inc. (NYSE:CMI) Holdings Raised by Mariner LLC

Mariner LLC increased its position in shares of Cummins Inc. (NYSE:CMI) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 168,603 shares of the company’s stock after purchasing an additional 9,838 shares during the period. Mariner LLC’s holdings in Cummins were worth $58,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC lifted its position in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares during the last quarter. KG&L Capital Management LLC lifted its holdings in Cummins by 0.8% in the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock worth $1,296,000 after acquiring an additional 28 shares during the last quarter. Signaturefd LLC boosted its stake in 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 acquiring an additional 28 shares during the period. Massachusetts Wealth Management grew its holdings in shares of Cummins by 0.6% during the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after purchasing an additional 30 shares during the last quarter. Finally, Avestar Capital LLC raised its position in shares of Cummins by 3.2% during the 4th quarter. Avestar Capital LLC now owns 987 shares of the company’s stock worth $344,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup lowered their price objective on Cummins from $360.00 to $320.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Robert W. Baird lifted their price objective on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. StockNews.com cut shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Finally, UBS Group lowered shares of Cummins from a “buy” rating to a “sell” rating and dropped their price target for the company from $400.00 to $240.00 in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $354.17.

Cummins Price Performance

Shares of NYSE:CMI opened at $288.10 on Tuesday. The stock has a market cap of $39.68 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 2.19 and a beta of 1.07. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $387.90. The stock’s 50 day moving average price is $333.97 and its 200 day moving average price is $346.72.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping 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 the consensus estimate of $8.06 billion. During the same quarter in the previous year, the business earned $4.14 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors 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 2.53%. Cummins’s payout ratio is currently 25.84%.

About Cummins

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.