Versor Investments LP Has $767,000 Stake in Cummins Inc. (NYSE:CMI)

Versor Investments LP trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 4.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,200 shares of the company’s stock after selling 100 shares during the period. Versor Investments LP’s holdings in Cummins were worth $767,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Global Trust Asset Management LLC grew its holdings in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares in the last quarter. BankPlus Trust Department bought a new stake in Cummins during the fourth quarter worth $26,000. Compass Financial Services Inc bought a new stake in Cummins during the fourth quarter worth $27,000. Prospera Private Wealth LLC bought a new stake in Cummins during the third quarter worth $32,000. Finally, Kestra Investment Management LLC bought a new stake in Cummins during the fourth quarter worth $43,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays upped their price target on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Bank of America upgraded 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 report on Tuesday, January 14th. Citigroup decreased their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Finally, Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Cummins currently has a consensus rating of “Hold” and an average price target of $386.67.

Cummins Stock Up 1.0 %

Shares of NYSE CMI opened at $367.90 on Friday. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The business’s fifty day moving average price is $362.32 and its 200-day moving average price is $344.17. The stock has a market capitalization of $50.58 billion, a PE ratio of 13.06, a P/E/G ratio of 2.19 and a beta of 1.00.

Cummins (NYSE:CMI) last issued 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 firm had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter in the prior year, the firm earned $4.14 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be given a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.98%. Cummins’s dividend payout ratio 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.