Epoch Investment Partners Inc. Sells 8,221 Shares of Cummins Inc. (NYSE:CMI)

Epoch Investment Partners Inc. lowered its position in Cummins Inc. (NYSE:CMI) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 344,603 shares of the company’s stock after selling 8,221 shares during the period. Epoch Investment Partners Inc. owned about 0.25% of Cummins worth $120,129,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CMI. Vanguard Group Inc. lifted its position in shares of Cummins by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company’s stock worth $5,912,830,000 after buying an additional 250,650 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cummins by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 3,377,583 shares of the company’s stock valued at $1,174,504,000 after acquiring an additional 84,112 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Cummins by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 3,072,457 shares of the company’s stock worth $1,071,059,000 after acquiring an additional 66,887 shares during the period. Norges Bank purchased a new position in Cummins in the fourth quarter worth $499,490,000. Finally, FMR LLC grew its stake in Cummins by 5.7% in the 4th quarter. FMR LLC now owns 1,242,362 shares of the company’s stock valued at $433,087,000 after purchasing an additional 67,266 shares during the period. 83.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CMI shares. Evercore ISI increased their price target on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Robert W. Baird reduced their target price on shares of Cummins from $407.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday. Truist Financial lowered their price target on shares of Cummins from $420.00 to $338.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. Barclays increased their price objective on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Finally, Citigroup decreased their target price on Cummins from $360.00 to $320.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus price target of $346.00.

Cummins Trading Up 0.3 %

Shares of CMI opened at $281.37 on Friday. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90. The stock has a market cap of $38.76 billion, a PE ratio of 9.99, a P/E/G ratio of 2.19 and a beta of 1.07. 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 business’s 50-day moving average price is $326.83 and its 200-day moving average price is $345.26.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the prior year, the firm posted $4.14 EPS. Cummins’s revenue was down 1.1% on a year-over-year basis. On average, equities analysts forecast that Cummins Inc. will post 22.54 EPS 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 given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.59%. The ex-dividend date was Friday, February 21st. Cummins’s payout ratio is 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.