DDD Partners LLC Lowers Position in Cummins Inc. (NYSE:CMI)

DDD Partners LLC lessened its stake in Cummins Inc. (NYSE:CMI) by 14.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,860 shares of the company’s stock after selling 11,345 shares during the period. Cummins makes up approximately 2.8% of DDD Partners LLC’s holdings, making the stock its 9th largest position. DDD Partners LLC’s holdings in Cummins were worth $22,610,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Global Trust Asset Management LLC lifted its stake 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 purchasing an additional 28 shares during the period. Compass Financial Services Inc purchased a new stake in Cummins during the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC bought a new position in Cummins in the third quarter worth approximately $32,000. Ashton Thomas Securities LLC purchased a new position in shares of Cummins during the 3rd quarter worth $55,000. Finally, Friedenthal Financial bought a new stake in shares of Cummins during the 4th quarter valued at $55,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Up 1.2 %

CMI opened at $373.71 on Monday. The company has a market capitalization of $51.27 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The firm has a 50-day simple moving average of $361.09 and a two-hundred day simple moving average of $339.06. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 52 week low of $259.06 and a 52 week high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $8.06 billion. During the same period in the prior year, the company earned $4.14 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. Analysts forecast that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be given a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, February 21st. Cummins’s dividend payout ratio is presently 25.84%.

Insider Activity at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,678,803.36. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CMI shares. Citigroup lowered their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. The Goldman Sachs Group lifted their price objective on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a report on Wednesday, November 6th. Jefferies Financial Group lifted their price target on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Cummins has an average rating of “Hold” and an average price target of $383.08.

Cummins 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.