Union Bancaire Privee UBP SA Makes New $6.28 Million Investment in Cummins Inc. (NYSE:CMI)

Union Bancaire Privee UBP SA bought a new position in Cummins Inc. (NYSE:CMI) during the 4th quarter, Holdings Channel.com reports. The fund bought 18,574 shares of the company’s stock, valued at approximately $6,284,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Trust Asset Management LLC increased its stake in 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 acquiring an additional 28 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Cummins during the fourth quarter valued at $27,000. Prospera Private Wealth LLC bought a new position in Cummins during the third quarter valued at $32,000. Kestra Investment Management LLC bought a new stake in shares of Cummins in the 4th quarter worth about $43,000. Finally, Friedenthal Financial purchased a new stake in shares of Cummins during the 4th quarter valued at about $55,000. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 4.6 %

Shares of NYSE CMI opened at $366.79 on Friday. Cummins Inc. has a twelve month low of $259.06 and a twelve month high of $387.90. The firm has a market cap 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. The business has a fifty day simple moving average of $361.51 and a two-hundred day simple moving average of $342.05. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

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. The company had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.14 earnings per share. Analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, February 21st. Cummins’s dividend payout ratio (DPR) is 25.84%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CMI. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Citigroup cut 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. Evercore ISI raised their price target on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays boosted their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group raised their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Cummins has an average rating of “Hold” and a consensus target price of $386.67.

Cummins Company 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.