Cape ANN Savings Bank Lowers Stake in Cummins Inc. (NYSE:CMI)

Cape ANN Savings Bank decreased its position in Cummins Inc. (NYSE:CMI) by 4.2% during the fourth quarter, Holdings Channel reports. The firm owned 3,105 shares of the company’s stock after selling 135 shares during the quarter. Cape ANN Savings Bank’s holdings in Cummins were worth $1,082,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CMI. Global Trust Asset Management LLC grew its stake in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares in the last quarter. Compass Financial Services Inc purchased a new position in Cummins during the 4th quarter valued at about $27,000. Prospera Private Wealth LLC acquired a new position in Cummins in the 3rd quarter valued at about $32,000. Kestra Investment Management LLC purchased a new stake in Cummins during the fourth quarter worth about $43,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Cummins during the third quarter worth about $55,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Jefferies Financial Group boosted their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Barclays increased their price objective on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Finally, Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $386.67.

Cummins Price Performance

Shares of NYSE CMI opened at $366.79 on Monday. The stock’s 50-day simple moving average is $361.51 and its 200-day simple moving average is $342.40. The firm has a market capitalization of $50.43 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. Cummins Inc. has a fifty-two week low of $259.06 and a fifty-two week high of $387.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

Cummins (NYSE:CMI) last released its quarterly earnings data 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 company had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter last year, the company earned $4.14 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 1.98%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

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.